IN BRIEF (Page 16)

Company breaks ground on new complex

Hong Kong-listed Shenzhen International Holdings Ltd laid the foundation for its first project in Qianhai on Dec 4. With a total investment of 3.5 billion yuan ($546 million), the company plans to build a complex with a floor area of about 160,000 square meters, and that will include an office building, commercial area and residential apartments. The complex is scheduled to be in use by the end of 2017. Gao Lei, chairman of the board of Shenzhen International, said the company, which specializes in logistics, will develop modern logistics and supply chain finance when the complex is ready.

Index reflects lively local economy

The Qianhai Institute for Innovative Research and the University of Hong Kong announced the issue of the Qianhai Cross-border Finance Index on Dec 3, designed to reflect the vitality of the Qianhai economy in terms of the real economy, financial system construction and cross-border financial activities. The index kept growing steadily from its base level of 1,000 at the beginning of 2013 to 3,712 at the end of the second quarter of 2015. The cross-border sub-index in the second quarter of 2015 increased by 14.6 percent quarter-on-quarter and surged by 89.5 percent year-on-year.

Authority signs deal with Dubai council

The Qianhai Authority signed a memorandum of cooperation with the Dubai Economic Council on Monday, which has played a major role in supporting the government of Dubai's economic policy decision-making since 2003. According to the memorandum, both sides will provide professional consultancy on investment, policies and regulations for companies in Qianhai and Dubai who intend to develop international business. The authority and the council will also help the companies find partners for market development, project cooperation and fundraising. In addition to exchanges in the sectors of finance, modern logistics, information services and technological services, both sides agreed to look for more innovative modes to deepen cooperation.

(China Daily 12/08/2015 page16)