Chengdu Investment News: February 16, 2009

Monday, February 16, 2009 6:52
Posted in category China's Other Cities

1.Total revenue of Chengdu’s information industry estimated to break through 100 billion yuan
According to the introduction of Chengdu Information Office, despite the influence of the earthquake last year, Chengdu’s information industry remained relatively rapid development, and the total annual revenue is estimated to break through 100 billion yuan, in which the software outsourcing export exceeding 300 million US dollars.

2. Chengdu economic zone accelerates expansion, “Leshan port” to be upgraded to “Chengdu port”
Equipped only with highroads, railways and air transport, the Chengdu Economic Zone is expected to resolve its defect in the water transport in the next few years. On January 18th, Chengdu and Leshan governments signed in Chengdu the Cooperation Framework Agreement on Economic and Social Development, and the two parties will join hands to push the Avionics Comprehensive Development of the Ming River and the Comprehensive Transportation Hub Construction of Chengdu Port. At that time, the current “Leshan Port” will be upgraded into “Chengdu Port”, becoming the most convenient and cost-effective water gateway of the Chengdu Economic Zone to the rivers and sea.

3. Provincial gymnasium and Chengdu Performance Group to jointly build West China sports•cultural industrial highland
On January 18th, the signing ceremony of the joint construction of western China sports•cultural industrial highland of Sichuan Gymnasium and Chengdu Performance Group was held grandly in Chengdu. This cultural and sporting collaboration will follow the “Hongkan Pattern” of Hong Kong known for performances of low ticket price, large quantity and high quality, and build the provincial gymnasium into a modernized multifunctional hall with synthesized cultural and sporting function.

4. Municipal bureau of commerce published summarized report of Chengdu commercial performance of 2008
The 2008 Summarized Report on Chengdu Commercial Performance released on January 19th by Chengdu Bureau of Commerce shows that up to December of last year, there were 132 Global Fortune 500 companies settled in Chengdu; the city’s total retail sales of consumer goods achieved 162.19 billion yuan, up 19.5% year-on-year; in foreign trade, Chengdu realized imports and exports of 15.411 billion US dollars, up 62.0%, ranking first in central and western China in terms of the scale of imports and exports; Chengdu’s service industry absorbing foreign investment remarkably advanced, with 196 service projects newly approved.

5. Agilent Technologies to further invest 10 million US dollars in Chengdu
Agilent Technologies, world’s biggest testing and measuring company, announced on January 19th that it will further invest 10 millions dollars to continue expanding the business of its Chengdu base, showing “its confidence in the human sources and investment environment of Chengdu, as well as in the local economy development under the circumstances of the financial crisis”.

6. Chengdu honored title of national civilized city with a first-place result
On January 20th, the Central Committee of Civilization recommended ceremoniously in Beijing the advanced models of work establishment including the national civilized city; Chengdu together with other 13 cities was granted the title of national civilized city of the second batch.

It is introduced that Chengdu obtained the national civilized city title with the first place result this time, with many indicators ranking first, for example, the civilized city’s public support rate and satisfaction degree over 99%, and the rate of satisfaction on urban environment and security factor reaching 95%, etc.

7. Chenghua’s “engineering of double hundreds” signed its first ten-billion-yuan contacts
On January 20th, the city’s first largest concentrated project signing ceremony at the start of 2009 was held in Chenghua district. A number of powerful investors from abroad such as Canada and Korea, from domestic regions like Hong Kong and Wenzhou gathered in Chenghua and signed 11 important investment agreements of a total of 10.5 billion yuan, which include Yuhao Chengdu International Automobile Brand Exhibition Center of Canada, Hong Kong Mingren Steel & Steel Products Exchange Center and Sichuan Headquarters of Wenzhou Chamber of Commerce, which marked the comprehensive start-up of the “Engineering of double hundreds” of Chenghua actively against the international financial crisis and its premier successful introduction of projects at the beginning of the year.

It is learnt that the 11 important projects signed this time cover the fields like modern trade, logistics, education, headquarter base and old city reconstruction, of which 7 projects have investment of over ten billion yuan and 4 over 10 million yuan.

8. With 250 million yuan to build a modern farm of kiwi
On January 21st, Xiang’e village of Dujiangyan city signed a contract with Shanghai Ju Ai Co. Ltd, who will invest 250 million yuan to build a modern farm of kiwi of 5,000 mou in Xiang’e village.

9.Jinjiang district awarded title of “China financial ecological zone”
The selection office of China Financial Ecological City recently released the list of the fifth batch of China financial ecological cities, in which Jinjiang district in building the financial center of West China was awarded the honor, learnt the journalist on January 22nd.

10.No essential impact on Chengdu’s property market was made by Earthquake
A survey report on Chengdu’s property market of the year 2008 released on January 22nd by Savills, a globalized real estates service provider, shows that the earthquake of last May did not make essential impacts on the market, which basically recovered to its pre-earthquake level in roughly one month after the breakout of the Earthquake, and at the same time the opportunities of the Grand Development of Western China and Post-disaster Reconstruction have largely contributed to the relief of shocks inflicted by the economic crisis on the property market of Chengdu. Therefore, neither the earthquake nor the economic crisis caused any major damages to Chengdu’s real estate market.

11. Backing on Chengdu, “Perfect”’ world strategy propped
On January 23rd, the project of the Chengdu Network Game Development and Operation Center of Perfect World was signed in Chengdu-high Zone: Perfect World has decided to set up a network game development and operation center in the zone with an investment of over a hundred million yuan, which after completion will become a network game development platform of a world class.

12. Congratulations to Chengdu Export Processing Zone for its third place achievement of imports and exports in China
A congratulation letter recently sent by the China Freetrade Export Association to the organizing committee of Chengdu Export Processing Zone reads that fervent congratulations are due to the “Chengdu Export Processing Zone whose imports and exports of the processing trade reached 4.750 billion US dollars, up 100.9% year-on-year, which achieved itself remarkable results of the third place in terms of value of imports and exports among the first batch of export processing zones of the country, while ranking first in the central and western China (including the northeastern region), and of the fifth place in terms of performance evaluation among the export processing zones nationwide”.

13.Designated as service outsourcing demonstration city, Chengdu to apply favorable measures
The 20 cities such as Beijing, Tianjin, Shanghai and Chengdu designated as China service outsourcing demonstration cities will further develop the reception of international outsourcing services and promote the development pilots for service outsourcing industries. In order to cope with the impact of the global financial crisis, the state will apply in the 20 pilot cities a series of encouraging and supporting measures, including tax incentives, financial support, etc., learnt the journalist on the working session on service outsourcing held in Nanjing on February 2nd.

14.Affiliated hospital of CUTCM became national TCM clinical research base
The affiliated hospital of Chengdu University of Traditional Chinese Medicine was approved by the State Development and Reform Commission and the State Administration of Chinese Medicine as the construction unit of the National TCM Clinical Research Base, becoming one of the 16 bases of such kind in the country, learnt the journalist on February 7th. With its settlement in Sichuan, the base will play a huge pushing role in the development of the traditional Chinese medicine in Sichuan and even West China.

15.Chongzhou attracted 300 million yuan to build a 2,100-mou rose garden on Flower & Fruit Mountain
Recently, Chongzhou signed a contract with a company from Lijiang and attracted 300 million yuan to cultivate a rose garden of 2,100 mou on the Huaguo Mountain (Flower & Fruit Mt.), as well as to build an industrial strip of rural tourism.

16.280 expositions and festival celebrations to gather in Chengdu this year
On February 12th, the information office of Chengdu municipal government held a special press conference, reporting the latest development of the city’s exhibition industry. In 2008, Chengdu held altogether over 260 conferences and exhibitions, exceeding the annual objective of 13%. The direct revenue (output value) of the industry surpassed 1,350 million yuan, with added value of 870 million yuan, up 20.1% year-on-year. Throughout the year, over 1.1 million traders have come to participate or to exhibit in these events, and the number of visitors from outside of Chengdu reached over 6 million. According to the calculation accepted internationally, the indirect production value of the exhibition industry, namely the stimulated consumption, has achieved more than 18 billion yuan.
This year, the city will carry on approximately 280 important expositions and festival celebrations, to promote the consumption to 20 billion yuan, welcoming a height of the exhibition industry development of Chengdu.

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3 Responses to “Chengdu Investment News: February 16, 2009”

  1. Chicago Resident says:

    February 17th, 2009 at 10:31 am

    Rich, you watch the Congress hearing today on China relations?

    The 2nd panel was awesome. One reporter believes no unrest. She says everyone in China knows what’s coming and see it as an opportunity. Gives one example of a migrant worker losing his job as a shoemaker and now wants to start his own business. Then Dr. Woo from Columbia Univ. was impressive.

    Hopefully it will be archived on CSPAN.

  2. Rich says:

    February 17th, 2009 at 11:27 am

    Awesome in the level of ignorance of American Congress?

    I am actually in the midst of a minor rant about the general level of ignorance that still exists on China, and the impact it could have on the world. so, if you find the archive, please send it to me, because I would love to use some of the data.

    you have the #1 and #2 economies of the world experiencing the hardest economies since WW2, yet China is somehow already rebounding… and of course, everyone in China is happy about that!


  3. Chicago Resident says:

    February 17th, 2009 at 1:53 pm


    My mistake. It’s a commission hearing, but here you go. Requires Flash and only works in IE.

    Give us your opinion on these guys’ analysis.