American business involvement in China encouraged

Real Estate Weekly, Dec 15, 1993

To encourage American business involvement in some of southern China's major real estate developments, Tian Yi Wang, vice chairman and president of CIIC (Hainan China International Industry and Commerce Company, Ltd.) met with business executives for the first time in New York on November 16.

Highlighted at the meeting was a report of key real estate projects underway in Hainan province for which American commercial and residential building expertise and supplies are sought. These business opportunities were detailed and included the mixed use development of office and residential buildings, hotel and shopping centers.

"We want to personally invite the American business community to explore the excellent development opportunities in Hainan, a province located 250 miles from Hong Kong, that will undergo dramatic development," said Wang.

CIIC is a state-owned enterprise which was registered in 1988 in Hainan province, China's largest Special Economic Zone, with the approval of the State Science and Technology Commission of People's Republic of China. CIIC is mainly engaged in real estate development, science and technology oriented projects and international trade.

CIIC has undertaken through bidding and completed a plan for a 38.6 square mile Yangpu Development Zone, which is China's first regional development zone. It is also Hainan's first provincial "Five-year Industrial Plan" and includes 28 major development projects.

The largest building development in China is underway by CIIC. Highlights include:

* Yusha Garden: An office, hotel, entertainment and residential complex located in the center of Haikou, the capital of Hainan province. The project has a total building area of 5.38 million square feet on approximately 80 acres.

* State Guest Garden: Located east of the prestigious State Guest House (Diao Yu Tai Guest House) in Beijing, the hotel, office and residential complex is adjacent to the newly completed road in a 4.304 million square feet area.

* Royal Palace: This premier hotel is now under construction in the financial district of Haikou, the capital of Hainan province.

CIIC has established three strategic bases in China:

* North China - with Beijing at the center, radiating towards the Bohai Bay;

* East China - with Shanghai at the center, radiating towards the Chang Jiang Delta:

* South China - with Haikou as the center, radiating towards Yangpu and Qiongshan.

Its prime landed property covers a total area of 64.56 million square feet.