Source: Ningxia Daily

(Journalist: You Tianzhu) On March 15, Wang Zhengwei, the vice secretary of Ningxia Party committee and chairman of Ningxia government, Cui Bo, the secretary Yinchuan municipal Party committee, and Wang Rugui, the mayor of Yinchuan, met Hui Kayan and his company from Evergrande who came here on their investment investigation tour.

Wang Zhengwei, chairman of Ningxia, met president Hui Kayan of Evergrande in Yinchuan.

It is known that Evergrande Real Estate Group was successfully listed in Hong Kong on November 5 last year, becoming the largest non-state-owned real estate enterprise in Mainland China with 70.5 billion HKD in total market value on that day. Only two months after listing, the company successfully issued bond of $750 million, with $250 million more than what the market had expected ($500 million), creating the highest record of annual global bond issuance by a Chinese real estate enterprise. In 2009, the Group achieved the contract sales of 5.6372 million square meters in area with the sales amount of 30.3 billion yuan. Compared with 2008, the sales area and amount rose by 396.5 percent and 402.3 percent respectively.

In the meeting, Wang Zhengwei expressed his welcome to Hui Kayan and his company on behalf of the Party committee and the government. Wang said, “Evergrande has been developing fast in recent years with a solid strength. Ningxia is now facing a new round of western development. With the State's approval of the plan to build open economy in the landlocked Ningxia, we have great potential and numerous opportunities. Strong enterprises are welcomed to develop in Ningxia and in Yinchuan, where good hardware, policies, and services will be provided. We hope that we could cooperate with Evergrande sincerely and achieve win-win stituation so as to contribute to the leap-type development of Ningxia.”

President Hui expressed his gratitude for the support to Evergrande by the Party committee and government of the autonomous region. He said that “the hardware and investment environment in Ningxia, especially in Yinchuan, are very attractive. Yinchuan is an important trade and business city along the new Eurasian Continental Bridge, which is now integrating with the country and even the world. In particular, Yinchuan people are showing the pioneering, innovative, and courageous spirit of “Great Mt. Helan and Eternal Yellow River”. This matches Evergrande's corporate spirit of “hard work, selfless dedication, and continuous improvement”. Evergrande is confident to invest in Yinchuan and will seek development with Yinchuan people who are pragmatic, earnest, and hard-working, and will do our best in the projects.”