Changchun district courts HK investors
Luyuan district in Changchun, capital of Jilin province, is seeking Hong Kong investors in a bid to become one of the business hubs of the north-eastern provincial capital.
'Luyuan aims to be a business centre in western Changchun,' said the district's party secretary, Chen Kexin, yesterday after it held a promotional day in Hong Kong. 'There are 100 projects under construction this year with total investment of 37 billion yuan [HK$41.96 billion].'
The district has opened three areas to foreign investment, including car components, agricultural and food processing, and biomedicine development.
'There are two Hong Kong companies, including listed Chia Tai Enterprises International, that have shown interest,' said vice-district chief Du Jian. 'But no investment amounts have been fixed and the timing of the deal is unknown.'
Luyuan has already attracted 2.5 billion yuan in investment from domestic enterprises.
'Besides developing the servicing sector, Luyuan is placing an emphasis on manufacturing [as one of the nation's largest carmakers]. First Auto Work Group is in Jilin,' said Mr Chen. 'That makes Luyuan embedded with potential for investors, especially when the world is undergoing a disastrous financial crisis.'
The government of Changchun and Hong Kong investors earlier signed two framework agreements and nine investment co-operation deals on 26.2 billion yuan worth of projects.
The investments include joint development of a vehicle park, a commercial complex, and projects for wind power and agricultural processing businesses.
Northeastern Jilin, which is pitching the investment opportunities of the province in Hong Kong, also aims to be a trade centre of northeast Asia.
Jilin has so far secured 56.7 billion yuan worth of foreign investment for 37 projects, ranging from vehicle and related products manufacturing, agricultural and energy businesses and in the property market.