DOCSLIB.ORG

Presentation To: Economic Development Committee May 1, 2012 Background

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Presentation To: Economic Development Committee May 1, 2012 Background Trade Visits to Shandong Province, China and Seoul, Korea March 1-8, 2012 By Gord Landon, Regional Councillor Objectives and Outcomes Presentation to: Economic Development Committee May 1, 2012 Background • Date: March 1 – 8, 2012 • Cities Visited: China: Qingdao, Zibo and Yantai Korea: Seoul • Business Meetings: 14 • Hi-tech Industrial Parks Visited: 5 Shandong Province, China City Profile Qingdao: - An important international trade port, naval base, industrial centre and marine transportation hub - One of the ten largest ports in the world - A model city for environmental protection - A marine science and technology centre - Area: 10,654 sq kms - Population: over 8.7 million (2010) - GDP: RMB¥ 566.6 billion (2010) - GDP per capita: RMB ¥ 65,827 (2010) - Key industries: home appliances and electronics, petrochemicals, automobiles and railway engines, shipbuilding and marine engineering, logistics - Industrial zones: Qingdao Economic & Technological Development Area; Qingdao Free Trade Zone and Qingdao High-tech industrial Zone City Profile Zibo: - A transportation hub of the Shandong province - One of the 5 ceramic centres in China - Abundant in natural resources, petroleum and natural gas - Area: 5,965 sq kms - Population: 4.5 million (2010) - GDP: RMB¥ 231.7 billion (2008) - GDP per capita: RMB ¥ 51,426 (2008) - Key industries: manufacturing, construction and services - Zibo National New & High-tech Industrial Park and other industrial parks City Profile Yantai: - Second largest industrial city in Shandong province, next to Qingdao - Has 9 different sea ports - Tourism extremely popular, getaway destination for both domestic and international tourists - Area: 13,739 sq kms - Population: 6.5 million (2008) - GDP: RMB¥ 343.4 billion (2008) - GDP per capita: RMB ¥ 49,012 (20108) - Key industries: tourism, agriculture and services - Foreign investment: more than 70 world top-500 companies and multinational companies including LG, Hyundai, Toyota, Honda and Henkel etc. 10 Sectors of Opportunities Identified and Businesses Visited 1. Bio-technology, Pharmaceutical/Medical Equipments - Qingdao Huanghai Pharmaceutical Co., Ltd.; Qingdao Bright Moon Seaweed Group Co., Ltd.; Qingdao Better Bio-technology Co., Ltd.; “WEGO” Holding Co., Ltd. 2. Animation - Qingdao International Animation and Game Industrial Park; Qingdao Guangdian Wireless Media Co., Ltd. 3. Aluminum Packaging - Zibo Denuo Aluminum Corporation 4. Tire Recycling/Production - Shandong Fuyu Bluestone Tire Co., Ltd. 5. Plastics - Dongda Polyurethane Co., Ltd. 10 Sectors of Opportunities Identified and Businesses Visited (cont’d) 6. Hi-tech - Lily Software (Shandong) Co., Ltd. 7. Electronic Device – Changzheng Education 8. Green Technology - Zibo Guoli New Energy Co., Ltd.; Yantai Power Solarenergy Co., Ltd.; Komee LED Lights 9. Industrial and Economic Development Zones: - Qingdao National High-Tech Industrial Development Zones - Yantai International Economic & Technical Corporation Co., Ltd. 10. Others: - Beddings/Embroideries - Qingdao Baoli Embroidery Co., Ltd. - Organic Food – Korea Importers Association 10 Sectors of Opportunities Identified 1. Bio-technology, Pharmaceutical/Medical Equipments - Qingdao Better Biotechnology Co. Ltd. The largest marine biological and biopharmaceutical production base in Asia. Products: collagen, glucosamine, chondroitin sulfate, etc. - Qingdao Bright Moon Seaweed Group Co., Ltd. The world’s largest Alginate manufacturer, and the pioneer in seaweed processing. Products: seaweed based chemicals, pharmaceuticals, health foods and fertilizers, etc. - WEGO The world’s largest integrated health product provider Products: medical instruments & pharmaceuticals; 12,000 employees, RMB 6.6 Billion sales Opportunity to develop connections with pharmaceutical companies such as TEVA 10 Sectors of Opportunities Identified cont’d 2. Animation: - Qingdao International Animation and Game Industrial Park (Q-Park) MQTV (Qingdao Guangdian Wireless Media Co., Ltd. Seeking technology transfer and products Have linked with Centennial College and Seneca 3. Aluminum Packaging: - Zibo Denuo Aluminum Corporation Products: aluminum foil including household foil, pharmacy foil, and food soft packing foil etc. 20% of the world market Opportunity to develop business relations with ALCAN 10 Sectors of Opportunities Identified cont’d 4. Tire Recycling/Production: - Shandong Fuyu Bluestone Tire Co., Ltd. selling 10 million sets of tires a year, targeting to produce 15 million sets of high performance radial tires and 25 million sets of recycled tires in 3-5 years. Linking with the Miller Group. 5. Plastics: - Dongda Polyurethane Co. Ltd. Products: Blend Polyol, Pre-polymer, paving materials, and water-borne polyurethane. Widely used in solar energy, heat preservation, construction, electrical and automobile industries. Award-winning professional supplier Opportunity to create partnership with Royal Plastics 10 Sectors of Opportunities Identified cont’d 6. Hi-tech: - Lily Software (Shandong) Co., Ltd. Provides IT outsourcing services Recently registered office in Markham: “iTopSpeed Information Services Inc." 7. Electronic Device: - Changzheng Education A light pen that provides instant language translation Opportunities for Canadian ESL students/teachers Local J. Addison School expressed interests in the product. 10 Sectors of Opportunities Identified cont’d 8. Green Technology: - Zibo Guoli New Energy Co. Ltd. Battery for buses Linked with YRT and the Miller Group 9. Industrial and Economic Development Zones: - Qingdao National High-tech Industrial Development Zone: Bombardier currently located inside the Park Attractive to hi-tech companies - Yantai International Economic & Technical Cooperation Co., Ltd. Possible connection with York Technology Alliance 10 Sectors of Opportunities Identified cont’d 10. Other: Beddings/Embroideries: - Qingdao Baoli Embroidery Co., Ltd. joint venture with USD 3,500,000 registered capital. equipped with advanced professional embroidery machines, the company produces table cloths, curtains and beddings etc. Investigating to set up a subsidiary in Markham Organic Food: - Korea Importer Association Exploring trade opportunities with local agricultural communities Summary Potential prospects and business needs identified. - Continue communication with Lily Software which established office in Markham - Economic Development to develop follow up mailing to businesses visited. Summary cont’d Opportunities of co-operation and bi-lateral trade Identify strengths of respective cities and provide recommendations for Markham’s 2012 China Trade Mission - Qingdao, Zibo, Yantai Summary cont’d Proposed Trade Centre: - focus on business opportunities - include rooms for display of goods and meeting facilities - Letter of Intent signed - Interests from: Jason Kenney, Minister of Citizenship and Immigration; Ed Fast, Minister of International Trade Questions?.
Load more

Recommended publications
  • Establishing 15 IP Tribunals Nationwide, Chinese Courts Further Concentrate Jurisdiction Over IP Matters
    Establishing 15 IP Tribunals Nationwide, Chinese Courts Further Concentrate Jurisdiction Over IP Matters March 15, 2018 Patent and ITC Litigation China has continued to develop its adjudicatory framework for intellectual property disputes with the establishment of three Intellectual Property Tribunals (“IP Tribunals”) this month. This reform began with the establishment of three specialized IP Courts in Beijing, Shanghai, and Guangzhou at the end of 2014, and has been furthered with the establishment of IP Tribunals in 10 provinces and two cities/municipalities around the country. For companies facing an IP dispute in China, understanding this framework in order to select the appropriate jurisdiction for a case can have a significant impact on the time to resolution, as well as the ultimate merits of the case. Most significantly, through the establishment of these IP Tribunals many Chinese courts have been stripped of their jurisdiction over IP matters in favor of the IP Tribunals. This has led to a fundamental change to the forum selection strategies of both multinational and Chinese companies. The three IP Tribunals established on the first two days of March 2018 are located in Tianjin Municipality, and cities of Changsha and Zhengzhou respectively. This brings the number of IP Tribunals that have been set up across 10 provinces and two cities/municipalities in China since January 2017 to a total of 15. The most unique aspect of the specialized IP Tribunals is that they have cross-regional1 and exclusive jurisdiction over IP matters in significant first-instance2 cases (i.e., those generally including disputes involving patents, new varieties of plants, integrated circuit layout and design, technical-related trade secrets, software, the recognition of well-known trademarks, and other IP cases in which the damages sought exceed a certain amount)3.
    [Show full text]
  • Appendix 1: Rank of China's 338 Prefecture-Level Cities
    Appendix 1: Rank of China’s 338 Prefecture-Level Cities © The Author(s) 2018 149 Y. Zheng, K. Deng, State Failure and Distorted Urbanisation in Post-Mao’s China, 1993–2012, Palgrave Studies in Economic History, https://doi.org/10.1007/978-3-319-92168-6 150 First-tier cities (4) Beijing Shanghai Guangzhou Shenzhen First-tier cities-to-be (15) Chengdu Hangzhou Wuhan Nanjing Chongqing Tianjin Suzhou苏州 Appendix Rank 1: of China’s 338 Prefecture-Level Cities Xi’an Changsha Shenyang Qingdao Zhengzhou Dalian Dongguan Ningbo Second-tier cities (30) Xiamen Fuzhou福州 Wuxi Hefei Kunming Harbin Jinan Foshan Changchun Wenzhou Shijiazhuang Nanning Changzhou Quanzhou Nanchang Guiyang Taiyuan Jinhua Zhuhai Huizhou Xuzhou Yantai Jiaxing Nantong Urumqi Shaoxing Zhongshan Taizhou Lanzhou Haikou Third-tier cities (70) Weifang Baoding Zhenjiang Yangzhou Guilin Tangshan Sanya Huhehot Langfang Luoyang Weihai Yangcheng Linyi Jiangmen Taizhou Zhangzhou Handan Jining Wuhu Zibo Yinchuan Liuzhou Mianyang Zhanjiang Anshan Huzhou Shantou Nanping Ganzhou Daqing Yichang Baotou Xianyang Qinhuangdao Lianyungang Zhuzhou Putian Jilin Huai’an Zhaoqing Ningde Hengyang Dandong Lijiang Jieyang Sanming Zhoushan Xiaogan Qiqihar Jiujiang Longyan Cangzhou Fushun Xiangyang Shangrao Yingkou Bengbu Lishui Yueyang Qingyuan Jingzhou Taian Quzhou Panjin Dongying Nanyang Ma’anshan Nanchong Xining Yanbian prefecture Fourth-tier cities (90) Leshan Xiangtan Zunyi Suqian Xinxiang Xinyang Chuzhou Jinzhou Chaozhou Huanggang Kaifeng Deyang Dezhou Meizhou Ordos Xingtai Maoming Jingdezhen Shaoguan
    [Show full text]
  • Economic Development Committee, and Michael Deangelis, the Former City Manager
    COMMITTEE OF THE WHOLE – FEBRUARY 28, 2012 LETTER OF ECONOMIC INTENT, ZIBO, SHANDONG, PEOPLE’S REPUBLIC OF CHINA Recommendation The Director of Economic Development in consultation with the City Manager, recommends: That the City explore the development of an Economic Partnership with Zibo, Shandong, People’s Republic of China through the signing of the attached Letter of Economic Intent. Contribution to Sustainability Green Directions Vaughan embraces a Sustainability First principle and states that sustainability means we make decisions and take actions that ensure a healthy environment, vibrant communities and economic vitality for current and future generations. Under this definition, activities related to attracting and retaining business investments contributes to the economic vitality of the City. Global competition in the form of trade and business investment, forces even the smallest of enterprises to operate on the world stage. With the assistance of the City, access to government officials and business contacts can be made more readily available. Economic Impact The recommendation above will not have any impact on the 2012 operating budget. However, any future activity associated with the signing of a Letter of Economic Intent, such as; any future business mission(s) to Zibo, Shandong that involves the City would be established through a future report that identifies objectives and costs for Council approval. Communications Plan Should Council approve the signing of a Letter of Economic Intent with Zibo, Shandong, the partnership will be highlighted in communications to the business community through the Economic Development Department’s newsletter Business Link and Vaughan e-BusinessLink. In addition, staff of the Economic Development Department will work with Corporate Communications to issue a News Release on the day of the signing that highlights the partnership.
    [Show full text]
  • Download Article (PDF)
    Advances in Social Science, Education and Humanities Research, volume 144 3rd International Conference on Arts, Design and Contemporary Education (ICADCE 2017) Zibo Fish Plates: From Folk Art to Cultural Heritage Ke Sun Culture and Leisure Research Institution Shandong University Weihai, China 264200 Abstract—Zibo fish plate, also called as “Shandong fish plate”, natural, whose patterns reveal the simplicity of Shandong is a porcelain plate-shaped ware with fish-pattern paintings for people’s items. Those plates are made by different craftsmen daily use to meet people’s daily needs, which was mainly and show different changes and creative ideas based on the produced in places like Boshan and Bochuan in Zibo City, maintaining of basic fish pattern forms, and they are very Shandong Province in the history, and which was popular in popular daily folk wares widely used in places of Shandong, regions of Shandong. Zibo fish plate is derived from the folk, especially in the middle of Shandong and peninsula areas. with a long history. The fish plate， reaching its period of great prosperity in the late Qing Dynasty, is the excellent As for the origin and development of Zibo fish plate, there representative of Zibo folk porcelain art and the important is no existing ancient document and book with clear and carrier of the inheritance of Zibo traditional porcelain techniques. definite records, and the porcelain art circle also has different Zibo fish plate, as the comprehensive carrier of matter, technique, opinions on them. Some scholars pointed out that the art and culture, is not only a precious folk art, but also an production of Zibo fish plate could be traced back to the important folk cultural heritage.
    [Show full text]
  • Argus China Petroleum News and Analysis on Oil Markets, Policy and Infrastructure
    Argus China Petroleum News and analysis on oil markets, policy and infrastructure Volume XII, 1 | January 2018 Yuan for the road EDITORIAL: Regional gasoline The desire to avoid tax has been a far more significant factor underlying imports markets are so far unmoved by a of mixed aromatics than China’s octane deficit. potential fall in Chinese exports The government has announced plans to make it impossible to buy or sell owing to stricter tax enforcement gasoline without producing a complete invoice chain showing that consumption tax has been paid, from 1 March. And gasoline refining margins shot to nearly $20/bl, their highest since mid-2015. Of course, Beijing has tried to stamp out tax evasion in the gasoline market many times before. But, if successful, this poses Mixed aromatics imports 2017 an existential threat — to trading companies and the blending firms that use ’000 b/d Mideast mixed aromatics to produce gasoline outside the refining system, largely avoiding US Gulf 4.39 the Yn2,722/t ($51/bl) tax collected on gasoline produced by refineries. Around 22.59 300,000 b/d of gasoline is produced this way. And that has caused the surplus that forces state-owned firms to market their costlier fuel overseas. Europe But there is little panic outside south China, where most blending takes place. 77.69 The Singapore market is discounting any threat that a crackdown on tax avoidance might choke off Chinese exports — gasoline crack spreads fell this month. China’s prices are now above those in Singapore, yet its gasoline exports show no sign of letting up.
    [Show full text]
  • Land-Use Efficiency in Shandong (China)
    sustainability Article Land-Use Efficiency in Shandong (China): Empirical Analysis Based on a Super-SBM Model Yayuan Pang and Xinjun Wang * Department of Environmental Science and Engineering, Fudan University, Shanghai 200433, China; [email protected] * Correspondence: [email protected] Received: 20 November 2020; Accepted: 14 December 2020; Published: 18 December 2020 Abstract: A reasonable evaluation of land-use efficiency is an important issue in land use and development. By using a super-SBM model, the construction and cultivated land-use efficiency of 17 cities in Shandong from 2006 to 2018 were estimated and the spatial-temporal variation was analyzed. The results showed that: (1) The land use efficiency levels were quite different, and low-efficiency cities impacted the overall development process. (2) The efficiency values of construction land generally fluctuated and rose, meaning that room remains for future efficiency improvements. Cultivated land generally showed a high utilization efficiency, but it fluctuated and decreased. (3) The construction land-use efficiency was highest in the midland region, especially in Laiwu city, followed by the eastern region and Qingdao city, and the western region. The spatial variation in cultivated land presented a trend of “high in the middle, low in the periphery,” centered on Jinan and Yantai city. (4) Pure technical efficiency was the main restriction driving inefficient utilization in the western region, while scale efficiency played that role in the east. Based on the findings, policy suggestions were proposed to improve the land-use efficiency in Shandong and promote urban sustainable development. Keywords: land use; efficiency level; super-SBM model; Shandong Province; construction land; cultivated land 1.
    [Show full text]
  • Best-Performing Cities: China 2018
    Best-Performing Cities CHINA 2018 THE NATION’S MOST SUCCESSFUL ECONOMIES Michael C.Y. Lin and Perry Wong MILKEN INSTITUTE | BEST-PERFORMING CITIES CHINA 2018 | 1 Acknowledgments The authors are grateful to Laura Deal Lacey, executive director of the Milken Institute Asia Center, Belinda Chng, the center’s director for policy and programs, and Ann-Marie Eu, the Institute’s senior associate for communications, for their support in developing this edition of our Best- Performing Cities series focused on China. We thank the communications team for their support in publication as well as Kevin Klowden, the executive director of the Institute’s Center for Regional Economics, Minoli Ratnatunga, director of regional economic research at the Institute, and our colleagues Jessica Jackson and Joe Lee for their constructive comments on our research. About the Milken Institute We are a nonprofit, nonpartisan think tank determined to increase global prosperity by advancing collaborative solutions that widen access to capital, create jobs, and improve health. We do this through independent, data-driven research, action-oriented meetings, and meaningful policy initiatives. About the Asia Center The Milken Institute Asia Center promotes the growth of inclusive and sustainable financial markets in Asia by addressing the region’s defining forces, developing collaborative solutions, and identifying strategic opportunities for the deployment of public, private, and philanthropic capital. Our research analyzes the demographic trends, trade relationships, and capital flows that will define the region’s future. About the Center for Regional Economics The Center for Regional Economics promotes prosperity and sustainable growth by increasing understanding of the dynamics that drive job creation and promote industry expansion.
    [Show full text]
  • The Mineral Industry of China in 1997
    THE MINERAL INDUSTRY OF CHINA By Pui-Kwan Tse The economic crisis in Asia seemed like a storm passing over the however, not imminent yet. Unlike banks in the Republic of Korea entire region, but China’s economy appeared relatively unaffected and Thailand, Chinese banks have a much smaller exposure to because the exchange rate was firm and there was no sign of foreign debt. Therefore, banks in China will not be as easily hit by instability. The main reason for the firm exchange rate was that the an external payment imbalance. Chinese banks funded their assets renminbi was not yet convertible under capital accounts. Therefore, mainly through large domestic savings, which average more than it was difficult, if not impossible, for funds to flow in and out of the 40% of the country’s GDP (Financial Times, 1997b; Financial country’s stock markets. Compared with other countries in Asia and Times, 1998a). In June 1997, the Government forbade banks to the Pacific region, China’s economy performed well with inflation finance the purchase stock in the stock markets by state enterprises. continuing to drop and foreign exchange reserves increasing sharply. The Government planned to overhaul its PBC, to increase its Preliminary statistics indicated that the gross domestic product regulatory powers and to allow it to shut down hundreds of poorly (GDP) grew by 8.8% and the retail price index rose by 2.8% in capitalized non-bank financial institutions that are threatening the 1997, compared with those of 1996 (China Daily, 1998c; China banking system (Asian Wall Street Journal, 1998a).
    [Show full text]
  • Pengyuan Credit Rating (Hong Kong) Co.,Ltd
    Public Finance China Combing through the creditworthiness of prefecture-level governments in China Contents Summary Summary ........................................... 1 The institutional framework of prefecture-level governments is overall solid and largely predictable and stable. The prefecture-level governments typically Outline of Prefecture-level have most of their service expenditures defined and receive predictable and stable Governments in China ....................... 2 fiscal support from their higher-level governments. The five cities (Shenzhen, Our Rating Framework ....................... 2 Xiamen, Qingdao, Dalian and Ningbo) under state planning are exceptional in that they have economic and fiscal management authorities at the province level. As a Credit Overview of 327 Prefecture- result, they have a more robust institutional framework than other prefecture-level level Governments ............................. 3 governments. Additionally, the central government has designated a few Economic Growth Is More Divergent prefecture-level cities as sub-provincial cities, giving them more political power and Among Poorer Prefecture-level financial resources than their peers. Regions .............................................. 4 The creditworthiness of prefecture-level governments is generally sound. To Fiscal Pressure Is Mounting on have a credit overview on the prefecture-level governments in China, we examined Prefecture-level Governments ........... 5 the credit profiles of the majority (327 out of 333) of prefecture-level governments based on publicly available data and our rating framework. The prefecture-level Debt Burden is Increasing but governments’ indicative standalone credit profiles (SACP) are generally good, with Manageable ....................................... 7 around 79% rated between {BBB-} and {BBB+}. On top of that, the indicative credit Prefecture-level Governments estimates of prefecture-level governments are substantially enhanced by the Generally Have Adequate Liquidity ...
    [Show full text]
  • KWP China Gas 2004 Final
    THE IMPLICATIONS OF CHINA’S GAS EXPANSION TOWARDS THE NATURAL GAS MARKET IN ASIA A CHATHAM HOUSE REPORT FOR JAPAN BANK FOR INTERNATIONAL COOPERATION February 2004 Dr Keun-Wook Paik, Associate Fellow Sustainable Development Programme Chatham House 10 St James’s Square London SW1Y 4LE www.chathamhouse.org.uk © The Royal Institute of International Affairs, 2004. This material is offered free of charge for personal and non -commercial use, provided the source is acknowledged. For commercial or any other use, prior written permission must be obtained from the Royal Institute of International Affairs. In no case may this material be altered, sold or rented. The Implications of China’s Gas Expansion towards Natural Gas Market in Asia. Chatham House Report for JBIC, February 2004 Table of Contents 1. China’s Natural Gas Industry ...................................................................................... 1 1.1. A Brief Review on the Natural Gas Industry............................................................ 1 1.1.1. The Role of Natural Gas in China’s Energy Balance....................................... 1 Year .................................................................................................................. 1 1.1.2. Resources.......................................................................................................... 2 1.1.3. Governing bodies and Industry Players ............................................................ 5 1.1.4. Exploration and Production .............................................................................
    [Show full text]
  • October 20, 2010 Beijing – Jinan – Qufu – Zibo – Weifang – Yantai – Qingdao – Suzhou –Shanghai
    ____________________________________________________________________________________________________ Sacramento-Jinan Sister-City 25th Anniversary Trip to China October 7, 2010 – October 20, 2010 Beijing – Jinan – Qufu – Zibo – Weifang – Yantai – Qingdao – Suzhou –Shanghai Tour Highlights: ¾ Attend celebration activities in Jinan for the 25th Anniversary of Sacramento-Jinan sister- city relationship as a member of the official delegation and invited guests to Jinan ¾ Climb the Great Wall of China and see giant panda bears with your own eyes ¾ Visit the World Expo in Shanghai ¾ Learn Chinese culture through tours of gardens ¾ Tour major cities in Shandong (山东), one of the most prosperous and populous provinces of China with Jinan as its capital city and Confucius as its most illustrious son: enjoy tour of Confucius’ birthplace, wine tasting, beer museum, folk arts and ceramics, etc. For more information, please contact Grace at [email protected] or Gloria at 916.685.8049. Visit us at the City of Sacramento’s website http://www.cityofsacramento.org/sistercities/jinan.htm or our homepage www.jsscc.org. Itinerary Day 1 10/07/2010 San Francisco – Beijing Fly from San Francisco to Beijing. A full meal and beverage service will be available during this overnight flight. The International Date Line will be crossed during the flight. Day 2 10/08/2010 Beijing (北京) – Capital of China Arrive in Beijing, transfer to 4-star hotel, welcome dinner (D) Day 3 10/09/2010 Beijing Visit the Great Wall, Cloisonné Factory, Summer Palace, Beijing Olympic Park. Enjoy a Peking Duck Dinner. (B-L-D) Day 4 10/10/2010 Beijing – Jinan Tour the Tian’anmen Square, Forbidden City (The Palace Museum), Beijing Zoo.
    [Show full text]
  • Changes in Directorate, Chief Executive Officer and Composition of the Board Committees
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (Incorporated in Hong Kong with limited liability) (Stock Code: 392) CHANGES IN DIRECTORATE, CHIEF EXECUTIVE OFFICER AND COMPOSITION OF THE BOARD COMMITTEES The board of directors (the “Board”) of Beijing Enterprises Holdings Limited (the “Company”) announces that: (1) Due to his personal commitment on other businesses, Mr. HOU Zibo (“Mr. Hou”) has tendered his resignation as Executive Director, Chairman of the Board and Chief Executive Officer of the Company. Accordingly, Mr. Hou has also ceased to act as Chairman of the Nomination Committee, Chairman of the Remuneration Committee and Chairman of the Investment Committee; (2) Mr. LI Yongcheng (“Mr. Li”), Executive Director and Vice Chairman of the Board of the Company, has been re-designated as Executive Director and Chairman of the Board of the Company. Also, as Chairman of the Board, Mr. Li has been appointed as Chairman of the Nomination Committee, Chairman of the Remuneration Committee and Chairman of the Investment Committee; (3) Mr. JIANG Xinhao (“Mr. Jiang”), Executive Director and Vice President of the Company, has been re-designated as Executive Director and Vice Chairman of the Board. Mr. Jiang’s role as Member of the Investment Committee remains unchanged; (4) Mr. DAI Xiaofeng (“Mr. Dai”), Vice President of the Company, has been re- designated as Executive Director of the Company; and (5) Mr.
    [Show full text]