Delegation Leaded by Chairman Zhang Xiangyang Made Investigation to Saudi Arabia and South Africa

During the period of December 23, 2015 to January 4, 2016, Chairman Zhang Xiangyang together with Chen Jianqing Deputy GM, Chen Guoli, Deputy GM and Shao Jinman, Chief Accountant visited Saudi Arabia and South Africa on the aim of speeding up the implementation of “Going Out” Strategy.

In 2014, as propelled by the “Belt and Road” Strategy, the Chinese enterprises signed the project contract in Saudi Arabia with the total value of USD 9.47 billion which broke the historical record. Among them, the state-owned enterprises as the potential counterpart the Group intended to cooperate with accounted for a big slice. On December 24, 2015, the Delegation visited China Civil Engineering Construction Corporation (CCECC) Saudi Branch which expressed the intention for cooperation after the introduction of the Group by Chairman Zhang Xiangyang.

In recent years, Nantong companies as Zhongxin and Longxin also took up much of the local construction market. The Delegation therefore visited Zhongxin Construction Group Saudi Branch and Longxin Construction Group Saudi Branch as well as the projects under construction thereof, from which the Delegation obtained brief information of company registration, the difficulties and risks in construction, the lessons they learned, the experiences, salary, welfare, local labors even working time etc.

Further, the Delegation visited Mr. Li Chenwen, China’s Ambassador to Saudi Arabia, who have been the China’s Ambassador to Sudan and given directions for the Group’s Development in Sudan. Chairman Zhang Xiangyang introduced the Group to Ambassador Li Chenwen and expressed the intention of cultivating Saudi Arabia    market. The Ambassador then introduced the National “5 Years Plan” as executed in Saudi Arabia and made pertinent suggestions as to the Group’s Cultivation.

On December 31, 2015, the Delegation started the visit to South Africa. The real estate business over the years in South Africa has become active due to government policies and will remain optimistic in the future under the circumstance of increasing economy, decreasing inflation and steady increasing interest. The Delegation therefore visited Nantong Chamber of Commerce in South Africa and the logistics warehouse and villa projects developed by Nantong Merchant with the information as land price, construction cost, house selling price, government policies and taxes obtained.

To conclude, this visit to Saudi Arabia and South Africa will be of great significance to the expansion of overseas market and the implementation of “Going Out” Strategy.