Hefei offers projects to investors
By Winny Wang |
December 24, 2009, Thursday
|
Print Edition
Print Edition
HEFEI dangled 238 projects worth 233.7 billion yuan (US$34.22 billion) to investors in the Yangtze River Delta yesterday as the city tries to spur its development.
Among the projects, 36 state-owned enterprises in the city, including public utility, retail, agriculture, real estate and hotel management, will transfer their equities worth 31.2 billion yuan. The other 202 projects, valued at 202.5 billion yuan, will cover 11 industries including automobile, home appliance, chemical, new energy and infrastructure.
"Investors will have small risks and high returns from these projects as many companies already have land, factories, mature markets and even famous brands," said Sun Jinlong, party secretary of Hefei, capital of Anhui Province, at a conference yesterday in Shanghai.
The conference hopes to lure investors from the Yangtze River Delta to set up in Hefei to spur its development and enhance its cooperation with nearby cities.
Fifteen Hefei companies signed contracts worth 32.6 billion yuan with investors at the conference, including a 15 billion yuan resort to be developed by Glorious Property and an 8 billion yuan complex to be built by Shimao Group.
Hefei's fast growing economy and preferential policies accelerated investments in the last four years. Investments in Hefei are seen at 100 billion yuan this year, after 78.2 billion yuan last year, 57.15 billion yuan in 2007 and 33.28 billion yuan in 2006.
"Investors can complete all procedures and start their business in three months in our city, compared with the average six months in other cities," Jin said.
Among the projects, 36 state-owned enterprises in the city, including public utility, retail, agriculture, real estate and hotel management, will transfer their equities worth 31.2 billion yuan. The other 202 projects, valued at 202.5 billion yuan, will cover 11 industries including automobile, home appliance, chemical, new energy and infrastructure.
"Investors will have small risks and high returns from these projects as many companies already have land, factories, mature markets and even famous brands," said Sun Jinlong, party secretary of Hefei, capital of Anhui Province, at a conference yesterday in Shanghai.
The conference hopes to lure investors from the Yangtze River Delta to set up in Hefei to spur its development and enhance its cooperation with nearby cities.
Fifteen Hefei companies signed contracts worth 32.6 billion yuan with investors at the conference, including a 15 billion yuan resort to be developed by Glorious Property and an 8 billion yuan complex to be built by Shimao Group.
Hefei's fast growing economy and preferential policies accelerated investments in the last four years. Investments in Hefei are seen at 100 billion yuan this year, after 78.2 billion yuan last year, 57.15 billion yuan in 2007 and 33.28 billion yuan in 2006.
"Investors can complete all procedures and start their business in three months in our city, compared with the average six months in other cities," Jin said.
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