AS Hangzhou attracts more and more investment, business leaders from around the world will converge on the city for its annual investment cooperation week. Dong Yiying reports.

The 2010 West Lake International Expo Investment Cooperation Week will open on October 11 and run through October 20.

Aiming at attracting more investments, the annual event has invited Fortune?500?companies, industry leaders and foreign companies who are interested in investing in Hangzhou.

Around 1,500 representatives from overseas companies seeking investment opportunities will take part, and more than 100 investment projects will be promoted.

There will be three kinds of activities: comprehensive events (projects promotion included); industrial cooperation and exchange forums. A range of conferences and exhibitions will also be held.

The investment cooperation week is an important part of the West Lake International Expo. It was first held in 1929 and resumed in 2000.

The Expo - themed "Harmonious West Lake, Charming Hangzhou" - aims to build Hangzhou's reputation as a city with a high quality of life. It also promotes the scenic city as a brand in the convention and exhibition industry as "West Lake Expo, City with Quality Life."

Hangzhou has made significant progress in attracting foreign investments in the past eight months.

From January to August, Hangzhou authorized 331 foreign-invested enterprises, with a total contracted foreign capital of US$4.31 billion, up 42.93 percent year-on-year. Actual utilized foreign capital amounted to US$2.56 billion, up 13.17 percent year-on-year.

By the end of August, 122 projects had been set up in Hangzhou by a range of Fortune 500 companies, five of them new projects in 2010. They include debut projects by US Liberty Insurance, Eli Lilly and Mitsui Sumitomo Insurance Co Ltd.

Investments by Fortune 500 companies cover varied industries, including petrochemical, pharmaceutical, electronics, electronic information, household appliance, textile, food and commerce.

Some of the multinational companies have set up regional headquarters and R&D centers in Hangzhou. Bosch and Federal Express set up their global procurement and business centers; Matsushita and Toshiba established manufacturing centers in Hangzhou National-level Economic & Technological Development Area. Financial giants such as Citigroup and HSBC and retail giants?like Wal-Mart and Auchan also settled in Hangzhou.

Besides investment from Fortune 500 companies, private enterprises in Hangzhou also attracted foreign investment this year.

During the first eight months of the year, the city launched 149 private projects to attract foreign capital, with a total input of US$1.96 billion.

In recent years, private enterprises have developed rapidly and become a major economic force. There are 81 private companies among China's top 500, representing 16.2 percent of the total and 43.78 percent in Zhejiang Province. Hangzhou has ranked first on both lists for several years.

Wanxiang Group is going to cooperate with Ener1 Co from the United States, establishing a production center for fully automated batteries and systems. The initial investment is over US$300 million.

Xizi UHC jointly manufactures elevators with a unit of UTC Co, one of the Fortune 500. It also established cooperation with other Fortune 500 companies, including Japan IHI, Mitsubishi Heavy Industries, Kawasaki Heavy Industries, GE and Alstom.

Among the newly authorized private projects, Eli Lilly Pharmaceutical Co subscribed the project of Zhejiang Beda Pharmaceutical Co Ltd; the share project of Shun Thai Life Insurance was merged with Mitsui Sumitomo Insurance Co Ltd.

Event schedule (projects promotion included)

1. West Lake Expo Investment Cooperation Week opening

Date: October 11, 10-11:40am

Venue: Zhejiang Narada Grand Hotel, Grand Ball Room

2. Forum on Hangzhou's Xiacheng District investment environment and financial services

Date: October 11, 3:30-5pm

Venue: Wyndham Grand Plaza, West Lake Hotel

3. Promotion for Hangzhou Canal Business Circle Project

Date: October 12, 9:30-11:30am

Venue: Braim Canal Hotel

4. 2010 Qiandao Lake Taiwan investment project promotion

Date: October 12, 3:30-5:30pm

Venue: New Century Resort Qiandao Lake Hangzhou

5. Jianggan District investment seminar & land-remising promotion?

Date: October 15, 2:30-4:30pm

Venue: Tianyuan Tower

6. Hangzhou Overseas Chinese Investment Conference - Overseas talents cooperation fair

Date: October 21, 9:30-11:30am

Venue: Jiangnan Hi-Tech Industrial Park, Xiaoshan District

Industrial cooperation

1. China International New Energy Industry Cooperation Summit

Date: October 11, 2:30-4:30pm

Venue: Zhejiang Narada Grand Hotel, Grand Ball Room

2. West Lake Expo Investment Cooperation Week: Industrial Trade Fair

Date: October 11, 2-5pm

Venue: HNA Resort Yunqi Hangzhou

3. Hangzhou and Taiwan mechanical and electrical industry cooperation fair

Date: October 12, 9am-12pm

Venue: international conference hall at Global Friend Precision Michinery Co Ltd, Xiaoshan Economic & Technological Development Zone

4. Hangzhou and Taiwan cultural and creative industries cooperation fair

Date: October 15

Venue: ZN Animation

5. Global 500 Company and multinational company investment fair

Date: October 19, 9:30-11:30am

Venue: Zhejiang Narada Grand Hotel

Exchange forums

1. Hangzhou national low-carbon industries demonstration spot and green CBD construction consulting seminar

Date: October 11, 2:30-4:30pm

Venue: Zhejiang Narada Grand Hotel, Grand Ball Room

2. Automobile green energy development and technology development seminar

Date: October 11, 1:50-5pm

Venue: New Century Grand Hotel Hangzhou, Kaikuan Room

3. Tenth international forum on financial services outsourcing

Date: October 17

Venue: Dragon Hotel, Hangzhou

4. Hangzhou industrial investment symposium - 12th West Lake international medium and small-sized enterprises seminar

Date: October 24

Venue: HNA Resort Yunqi, Hangzhou

5. Third International Outsourcing Business Development annual meeting

Date: November 1-3

Venue: Zhejiang Narada Grand Hotel