Chengdu Investment News: July 2, 2009

Thursday, July 2, 2009 9:00
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1. Investment of 100 million US dollars, Alibaba to build western base in Chengdu
On June 29th, the signing ceremony of the western base project of Alibaba Group was held in Chengdu High-tech Zone. It is learnt that Alibaba Group is to invest 100 million US dollars in Chengdu to build the “Alibaba Western Base”, whose business range will cover all related businesses conducted by the Group’s subsidiaries, with such functions as research, calling, background operation and maintenance, management and settlement, disaster recovery and training, etc. The settlement of the Chengdu Operation Service Center subordinated to the Alibaba Group was also signed at the occasion.

2. Total investment of 800 million yuan, China Plastic City Chengdu project settled in Xindu
The management committee of China Plastic City based in Yuyao city of Zhejiang province recently signed an agreement with Xindu district, to formally settle the China Plastic City Chengdu project in the district. According to the introduction, the project has a total investment of 800 million yuan, and after the first-phase put in operation, the annual tax revenue can reach 100 million yuan averagely, capable of providing over 3,000 job positions.

3. Important projects of 10.1 billion of Jinniu district signed collectively
Recently, Jinniu district held an signing ceremony for important projects, during which 4 companies including RedStar Furniture and Zhongtie Wuju signed with Jnniu district a “big bill” worth 10.1 billion yuan, in which the RedStar-Shanghai Mall project of investment of 3 billion yuan will start construction on August 8th, which also contains the first five-star hotel in the northern part of Chengdu.

4. China Electronics Fair (CEF) to be held at end August
As a most important electronic information industry fair in China, China Electronics Fair will be held in Chengdu from August 27th to 29th, which is also the time for the so-called “first fair of China electronics” to be held in the city, and by then about 400 exhibitors in electronics business from home and broad will take part in, learnt the journalist on June 16th.

5. Pratt & Whitney to increase capital of over 15 million US dollars to expand its base
On June 17th, Chengdu High-tech Zone and the U.S.-based company Pratt & Whitney signed the Expansion Investment Agreement of “Excellent Production Center” of Chengdu Aerotech. According to the agreement, Pratt & Whitney will move its controlled joint venture Chengdu Aerotech Manufacturing Co., Ltd to the High-tech zone, and add in capital over 15 million US dollars to expand the joint venture into a new production base in accordance to the standard of “Excellent Production Center” of Pratt & Whitney. The production base mainly engages in aviation precision machining and sheet metal parts manufacturing, which will double the productivity of Chengdu Aerotech Manufacturing Co., Ltd. The signing of the contract will vigorously push the development of Chengdu’s aerospace industry.

6. China’s biggest Airbus maintenance base to be constructed in Chengdu
Chengdu’s building of the aviation hub of central and western China has been boosted once again. On June 18th, the project of Taikoo Sichuan Aircraft Engineering Services Company was officially started up. Since so far there is no specialized maintenance base for airbus in China, the project will target both domestic and foreign markets of maintenance and related activities for airbus, and is expected to become the biggest specialized maintenance base for airbus aircrafts in China even in Asian region after its full completion, which will consequently largely upgrade the level of maintenance and manufacturing of the locality, and push the rapid formation of the aviation hub of Chengdu.

7. Intel Campus Advanced Electronic Manufacturing Engineering Center settled in Chengdu
On June 18th, Intel’s globally first Campus Advanced Electronic Manufacturing Engineering Center settled in Chengdu, which is the first time Intel orients towards educational partnership systems worldwide, to comprehensively develop the in-house training programs and jointly set up the training center. The center aiming to provide for students majoring electronic manufacturing engineering a one-stop training scheme comprising comprehensive theoretical knowledge as well as equipment operation, maintenance and repair skills, will convey professional talents to the advanced electronic manufacturing industries in Sichuan even of the whole country.

8. Building Auto Industrial Park, heavy truck to realize “made-in-Chengdu”
On June 18th, Shanxi Tongda Group known nationwide for motorcycles of “Dayun” and “Dayang” signed formally with the Chengdu Economic and Technological Development Zone (CETDZ) and will invest 2.1 billion yuan to build the Dayun Automobile Industrial Park, which will make up the lack of heavy duty truck manufacturing in the automobile industry in the CETDZ, adding a highly embellishing stroke for the development of the automobile industry in Chengdu.

9. Global vice president of Carrefour: to open 5 stores in Chengdu proper
On June 21st, Luo Guowei, Global Vice President and China Zone President of Carrefour, expressed in Chengdu that this year, Carrefour will enlarge its direct purchasing in Sichuan region, and besides the earlier purchases of Bunge prickly ash and Chinese goosebeery, it also plans to sell Sichuan’s pears and oranges to the whole country. Carrefour will open another 5 stores in Chengdu proper within three years, and by then the number of Carrefour stores in Chengdu will reach 10.

10. Chengdu topped chart of “China’s cities with most soft power”
Recently, in the large-scale survey on cities of China with most soft power collaboratively conducted by the Oriental Outlook of Xinhua News Agency, the Association of Mayors of China, and the International Public Relations Research Center of Fudan University, Chengdu won out among 50 candidate cities and topped the chart of “Cities of China with most soft power” with the comprehensive evaluation’s performance ranking first.

11.Chengdu to Seoul air route, newly added with two flights per week
Starting from July 1st, the scheduled direct flight from Chengdu to Seoul, capital of South Korea, will be increased from the current two flights per week to four, learnt the journalist on June 23rd from the Asiana Airlines.

12. Within two years Chengdu to be built into a national entrepreneurial city
Starting from this year, Chengdu will use 2 years to establish a national entrepreneurial city, meeting the five main criteria of “the ratio of venture creation driving employment of 1:6, the index of entrepreneurial activity of 20%, annually 25,000 ventures newly created, 100,000 fresh individual businesses and 10,000 companies transformed from individual businesses”, learnt the journalist from the mobilization conference on establishing national entrepreneurial city and working meeting on promoting urban and rural full employment which was held on June 26th.

13. CET unveiled in Chengdu, boosting take-off of China’s large airplanes
China’s first professional manufacturing company of civil aviation electronic system and equipment development and research – the CET Aviation Electronics Co., Ltd was established in Chengdu with its nameplate unveiled on June 28th. In complying with the urgent need of the state of developing large-scale airplanes, the company being built with a heavy investment of 1 billion yuan by the China Electronics Technology Group Cooperation, will, through its participation in the R&D, production, maintenance and services of avionics systems, provide an important guarantee for the safe, economical, convenient and environment-friendly operation of aircrafts.

14. Wenjiang district inked 6 projects at Beijing Promotion Conference, of total investment of 1.06 billion yuan
Wenjiang recently held in Beijing the “2009 Beijing Promotion Conference for Modern Services Industries”, and signed altogether 6 projects of modern services industries, with agreed investment of totally 1.06 billion yuan, which include the Chengdu Branch of Beijing Haidian Capital Center, the Beijing ODK Medical Technology R&D and Marketing Center, the Goodrex Image Display System Software R&D Consulting Service Center and the FINDIA E-commerce Operation Center.

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