Hangzhou, Zhejiang province: Four companies based in this city's Xiaoshan district are planning to list part or all of their businesses in Shanghai or Hong Kong as early as next year.

They are conglomerate Transfar Group, business-center operator Qianjiang Century CBD, conglomerate Hengyi Group and hotel firm New Century International Hotel.

"We are thinking of spinning off our logistics business to list in Hong Kong," said Xu Guanju, president of Transfar Group Co, but no timetable was given on the plan.

Based in the Xiaoshan district of Hangzhou, Transfar's business is in chemicals, logistics, agricultural and investment.

Currently, two subsidiaries under Transfar are listed in Shengzhen and Shanghai, respectively.

Qianjiang Century CBD, which develops and operates one of Xiaoshan's central business districts (CBDs), wants to spin off its construction business to list in Hong Kong next year, said Zhu Xianliang, assistant director of Qianjiang Century CBD.

With an area of 22.74 sq km, Qianjiang Century CBD hopes to develop into a financial, exhibition and cultural amusement center in Hangzhou. The first phrase will be completed by 2010 and the entire project is scheduled to be completed in 2017.

However, the CBD faces great competition from other cities in the same region, including Hangzhou Xincheng - a CBD with similar positioning that has attracted investments from Hong Kong-listed Sun Hung Kai Properties and China Resources Land.

Two other firms in Xiaoshan with listing plans have attracted foreign investors.

Hengyi Group, in which Citigroup recently invested, and New Century International Hotel, in which US private equity fund Carlyle has invested, are planning to list their shares in Hong Kong or Shanghai, according to Chen Jianxin, vice-director of the Xiaoshan District Commission of Development and Reform.

The introduction of foreign investors might be the first step for the two companies to tap into the overseas capital market, Chen said.

Hengyi, a conglomerate with businesses in chemical production; export and import business; real estate development; and financial investment, had revenues of 20.16 billion yuan and net profits of 456 million yuan in 2007.

It wants to list its chemical-production business.

New Century International Hotel, in which Carlyle has invested more than $100 million, also eyes expediting its Hong Kong listing, but Chen didn't give a timetable.

Based in Hangzhou, and having a national presence, New Century's listing effort to raise HK$300 million can be traced back in 2005. But the deal was postponed due to restructuring problems, reports said.

The company's total assets totaled 8 billion yaun by the end of 2007.