Henan Province lures more American investors
(Xinhua)
Updated: 2004-04-14 15:55

Central China's Henan Province has hosted an US CEO Delegation Projects Presentation in the capital city of Zhengzhou to seek investment and cooperation opportunities.

Fifteen members of the US-based CEO Club were invited to the presentation during the ongoing Third China Henan International Investment and Trade Fair, which opened on Monday.

The presentation is aimed at promoting mutual understanding and planning investment projects with local enterprises.

"I am glad to see the Chinese movie market is gradually opening, " said Brian J. Eagan, CEO of Defcon Pictures based in California of the United States. "We want to cooperate with our Chinese counterparts in the fields of film production and education. We don't have an office in Henan, so that's why I am here."

Defcon has set up a joint venture in China. Hopefully the first movie they make together with Chinese partners will show in China by June of 2005. Meanwhile, they were also planning to hold seminars with the Beijing Film Academy, on which directors and stars from the Hollywood would be introduced to Chinese movie students, Eagan said.

Since most Chinese entrepreneurs do not have enough information on the overseas markets, they often come across difficulties in introducing products to the outside world. "But many companies especially the medium-sized ones don't have consulting offices, so we will be helpful giving them advice in developing overseas market," said Jurgen Mann, president of Europe-China Consulting Company.

"I can help them establish business in North America and Europe and make it efficient and productive. There are different rules and regulations in those markets and I am familiar with them," he said.

"My job is to provide clients detailed information about the market of their products want to go, especially in North America and Europe, like price, location and the potential demands. In addition, they also helped foreign investors to develop Chinese market, too, he said.

According to the Vice Governor Lu Debin, Henan had actually utilized US$6 billion of foreign investment by the end of 2003. The contracted investment from the United States alone had reached US$1.4 billion involving 765 projects. Such big enterprises like the Du Pont Corp, the Harshman Corp, the Western Resources and Coca-Cola have made substantial investment in the province.

"We welcome such activities which help us know more about China and establish business ties with Chinese enterprises," said David Holmes, national sourcing director of US China Business Solutions Incorporation, who started business in China a year and a half ago and has set up offices in Shenzhen and Beijing.

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