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Beijing’s Chaoyang District signed three major contracts during the 19th Beijing-Hong Kong Economic Cooperation Symposium.
Chengxin, a subsidy of Orange Sky Entertainment Group dedicated in data technology and UpChina, a platform for Internet-based financial services, were among the new partners. The other contract was signed between LeTV Hong Kong and Hong Kong Broadband Network.
The contracts contributed more than 13.8 billion yuan ($2.2 billion) to the district’s total investment, placing Chaoyang District ranks at the top among all the districts and counties in Beijing.
More than half of Beijing’s foreigners live in Chaoyang District. The globalized resources in the district turn it into a driving force for economic development. The energetic development environment also offers a development platform for foreign capital and helping local corporations to overseas markets.
Ma Yinghui, director of the Chaoyang District Investment Promotion Bureau said that the district is focused on finance, modern services, culture, and technology.The contracts will definitely contribute to regional economic structure, added Ma.
Chengxin plans to invest four billion yuan ($625.6 million) in a secured online personal information management center. The project will realize humanized and personalized smart data management and improve user data safety. It will also reduce the use of paper and save more trees, showing the company’s environmental commitments.
UpChina will launch financial research institutions and provide financial services. In addition, the company will integrate financial engineering technology and cloud computing. These efforts will link market information, analysis, trade, and services to provide one-stop investment and financial services.
The cooperation between LeTV and Hong Kong Broadband Network includes the establishment of the largest Internet-based entertainment platform of the Asia-Pacific Region.Six billion HK Dollars ($774 million) will be invested in the system, based on LeTV’s advantage in video, content, and smart terminal industries.
LeTV is the only online video company listed in the mainland’s general stock market. The company shows the effects of the outstanding development environment in Chaoyang District.
Ma said that Chaoyang District is making effort to develop a global leading community for both local and foreign corporations. The government will launch preferential policies to provide convenience in business registration.
