Chengdu Investment News: May 5, 2009

Tuesday, May 5, 2009 7:51
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1. Ge Honglin met IBM’s Great China President Zhou Weikun and his party
IBM reintegrated the 9 provinces and 1 city in Southwest and Northwest regions, and put forward the “Grand West Zone” strategic layout, making Chengdu its west zone headquarters. On April 15th, while meeting with Ge Honglin, vice secretary of CPC Chengdu Municipal Committee and mayor, Zhou Weikun, President of IBM Great China, expressed that IBM will invest more resources into Chengdu, continue deepening cooperation, and strengthen the regional radiation force of its western headquarters.

2. Canadian Trade Office in Chengdu to be opened before July 1st
Having just finished his visit to Chengdu, Mr. Stockwell Day, Canadian Minister of International Trade, formally announced the start-up of two newly-established trade offices in Chengdu and Shenzhen, in order to help Canadian companies to enter into China, the fastest growing economic body of the world, learnt the journalist on April 15th from the Canadian Embassy in China. The two offices will be opened before July 1st.

3. Macao to donate 179.6 million yuan to rebuild Taoist temple of Qingcheng Mount
In order to restore as quickly as possible the previous simple and beautiful scenery of the ancient architectural complex at the Mount Qingcheng scenic spot which was damaged during the great earthquake of “May 12th”, Macao Foundation recently decided to donate 179.6 million yuan to support the rehabilitation and reconstruction of the ancient buildings on the Mount Qingcheng, revealed the Ethnic and Religious Affaires Bureau of Chengdu on April 15th.

4. 2009 Seventh China International Software Cooperation Symposium held in Chengdu
At the 2009 Seventh China International Software Cooperation Symposium held on April 16th, a number of “heavyweight” sub-conferences appeared one after another, including the Sino-European Information Society Summit Forum, the 3G Communications International Summit, the China Software and Information Service Investment Summit Forum and the Symposium on Changing Innovation Industries and Legal Copy Impetus, having attracted the gathering of toppers from such industrial leaders as Fujitsu, EMC, McKinsey and GDS as well as inside experts, who gave suggestions and counsels for the development of Chengdu’s software and information industry.

5.Second China Chengdu “intangible cultural festival” to be held in June
Authorized by the State Council, the Second International Festival of the Intangible Cultural Heritage of Chengdu, China, will be held in the city from June 1st to 13th, and its first press conference was held in Beijing on April 16th.
The 2nd “intangible festival” is sponsored by the Ministry of Culture, the Sichuan Provincial People’s Government and the UNESCO, and organized by the Chengdu Municipal People’s Government, the Sichuan Provincial Department of Culture and the Protection Center of the Intangible Cultural Heritage of China. Rotating the theme of “colorful ethnic cultures, and human spiritual home”, upholding the earthquake relief spirit, the festival organizes a series of activities such as street itineracy, international seminars, theatre shows, which is a fair combined with exhibition, performance and sales.

6. Chengdu to complete building of international communications exit at year end, to upgrade internet surfing speed
The State has approved Chengdu to construct the international communications exit, and it is predicted that the international communications exit and entry engineering be finished at the end of the year, which means that Chengdu will become the fourth international communications exit in China after Beijing, Shanghai and Guangzhou, and the first in western region, revealed a person in charge from the Chengdu Office of Information.

7. Investing 70 million yuan in Chongzhou to build a digital commerce mall
The Hong Kong Haoshizai Group had settled in Chongzhou and will invest 70 million yuan to build a digital commerce mall in the city, and plan to open it in early June of this year, learnt the journalist on April 22nd.

8. Throwing 100 million yuan, IFC helping “Chengdu small guarantee” to share risks
On April 22nd, the International Finance Corporation (IFC) formally signed an agreement with the Chengdu Small Enterprise Credit Guarantee Co., Ltd, providing the latter with 15 million US dollars (approximately equal to 100 million yuan) of credit risk share, and assisting the latter in supporting the development of the small and medium-sized enterprises so as to participate in the post-disaster reconstruction and livelihood recovery work. It is reported that this is the first risk sharing agreement IFC has signed with a guarantee company, and the 15 million US dollars will also add to the Chengdu Small Guarantee an amount of bond of roughly 1 billion yuan.

9. Wuhou district added with two more Fortune Global 500 companies
On April 23rd, the journalist learnt from Wuhou district that during this month the district’s Tiaoshanta street block had successfully introduced two Fortune Global 500 companies: Astellas Pharma of Japan and Texas Instruments of the U.S. Both companies established their branches in Chengdu, whose businesses cover the southwest region.

10.China’s first government-led multi-language information conversion center set up
In developing software and service outsourcing industry, Chengdu has a multi-language “translator”. On April 24th, the country’s first government-leading multi-language information conversion center – “China•Global Multilingual Information Conversion Center” was set up with the nameplate unveiled, which signified that Chengdu had taken a crucial step in its internationalized road to the constructing of a non language-barrier city. It is reported that the center currently has already attracted the settlement of a batch of organizations from home and abroad for the R&D, translation and training of the translation business.

11. France to provide a load of 200 million US dollars to help Sichuan post-disaster reconstruction
An announcement published on the official website of the Ministry of Finance on April 25th says that the Chinese Ministry of Finance and the French Agency of Development (AFD) signed a loan agreement. AFD will provide a loan of 200 million US dollars for the recovery and reconstruction of Sichuan seismic disastrous area of China. According to the General Planning of Post-disaster Restoration and Reconstruction of Wenchuan Earthquake of the State, the 200-million-US-dollars loan provided by AFD will be used mainly in the rehabilitation and reconstruction of the urban infrastructure of 6 heavily-hit counties and districts and that of the rural biogas of 12 counties and districts in Sichuan province.

12.Chengdu project of TCL liquid crystal flat television signed in Chengdu
The signing ceremony of the Chengdu project of TCL liquid crystal flat television was held on April 28th. After the completion of the project, TCL will become the first producer of liquid crystal flat television in Chengdu area. According to the agreement, TCL will set up two production lines of liquid crystal television before October, and make 300,000 such television sets within the year, and the production capacity surpasses 1 million sets next year.

13. Level-upgrading, Sichuan and Zhejiang signed 22 army-civilian scientific cooperation projects
One side being Sichuan’s military scientific research units of outstanding advantages, and the other side the capital-abundant Zhejiang corporations, on April 28th, both sides successfully connected at the Zhejiang-Sichuan Army-civilian Scientific Cooperation Connection Conference, with 22 army-civilian scientific cooperation projects fruitfully signed which involve 300 million yuan for the scientific development cooperation.

14.Fifth Session of Sino-Spanish Forum held in Chengdu
The two-day long Fifth Session of the Sino-Spanish Forum was inaugurated in Chengdu on April 28th. Starting from 2003, the Sino-Spanish Forum is an agreed project by the heads of the two governments, aiming at promoting the Sino-Spanish cooperation and deepening the comprehensive strategic partnership of the two countries, and has been held successfully four times in Beijing, Barcelona, Shanghai and Madrid. This session was co-sponsored by the Chinese Committee of the Sino-Spanish Forum, the Chinese People’s Association for Friendship with Foreign Countries, the Sichuan Provincial People’s Government and the Chengdu Municipal People’s Government, whose theme is the “Sino-Spanish Cooperation, Acting against Challenges”.
It is reported that the projects such as Sichuan post-disaster reconstruction and western comprehensive transportation hub and logistic center have attracted Spanish investors, and both sides have signed the Framework Agreement on Silicon Industrial Project of Ganzi Prefecture of Sichuan Province of China with an investment of 820 million euros as well as the Investment Suggestive Agreement Concerning Sichuan Expressway Project of an investment as high as 10.4 billion yuan.

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