Hi-tech park attracts major investments in Chengdu

Chengdu Hi-tech Industrial Development Zone (Chengdu Hi-tech Zone) and Singapore-Sichuan Hi-tech Innovation Park (SSCIP) on Feb 27 signed official cooperation agreements with five partners, involving a total investment of 6.7 billion yuan ($1.1 billion.

The five partners are Tencent Holdings Ltd, Shenzhen Power Leader Group, Guangdong OPPO Mobile Telecommunications Corp, Guangxi Conha Group, and Shenzhen Chipscreen Biosciences Ltd.

Tencent, one of China's most influential cyber giants, will invest more than 1 billion yuan to establish its southwest headquarters in the Chengdu Hi-tech Zone. The company already has a customer service center and an online game R&D center in the zone.

Shenzhen Power Leader Group, owner of China's first A-share listed Internet gaming company, will invest more than 1.5 billion yuan to establish a southwest R&D headquarters and a cloud computing base.

Guangdong OPPO Mobile Telecommunications Corporation, one of China's leading mobile device manufacturers, will invest 1.2 billion yuan to build its second operating center in China.

Guangxi Conha Group, a market leader in the steel manufacturing and export business, will invest 2 billion yuan to develop a steel commodity electronic trade center and digitize logistics operations for its various business groups.

Shenzhen Chipscreen Biosciences Ltd, a leading integrated biotech company, will invest 1 billion yuan to establish a drug R&D base and a headquarters.

Located in the south park of Chengdu Hi-tech Zone, SSCIP is the first hi-tech industry cluster jointly developed by Singapore and the Sichuan provincial government. It covers an area of more than 10 square kilometers, that it plans to build into a high-end, leisure, and vigorous community.

"Apart from the five confirmed projects, there are 20 projects at contract discussion stage, and more projects showing interest to come," said an official from the Chengdu Hi-tech Zone.

From March this year, SSCIP will launch a series of investment promotion activities in the Yangtze River Delta, the Pearl River Delta and the Bohai Bay region, said the official.

"We will speed up the construction of the park, and introduce more high-end projects to achieve a win-win situation," said Fock Siew Wah, Group Chairman of PSA International Pte Ltd, one of the investors of the high-tech innovation park.