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Reignwood’s SLACO and East China Headquarters Projects were Signed in Hong Kong and Shanghai Respectively

2019-09-14

On September 12, the projects of Reignwood Group’s SLACO and East China Headquarters were signed in Hong Kong and Shanghai respectively.

From September 11 to 12, the 4th Belt and Road Summit, co-organized by the Hong Kong SAR Government and the Hong Kong Trade Development Council, was held in Hong Kong, attracting about 5,000 people from all over the world to share the latest development and new opportunities that this initiative brings to different industries. Chairman Yan, as Co-founder of the Belt and Road General Chamber of Commerce (Hong Kong) and executive vice president of China Overseas Chinese Entrepreneurs Association, was invited to the summit.

Carrie Lam, Chief Executive of the HKSAR, officiated at the Summit's opening ceremony and delivered the opening remarks. “The connectivity and cooperation promoted by the Belt and Road has become increasingly prominent in today's complex social and business environment. Hong Kong, China's most competitive and international city, will play a significant role in complementing this strategic direction.”

During the summit, the Reignwood invested company SLACO signed an EPC framework agreement with CHALIECO for a?5.5 million tonne aluminum oxide project in Laos. The SLACO Limited Co., ltd, registered in Laos, is a China-Thailand venture company and it shall focus on bauxite and aluminum oxide business in future. Through this cooperation, both sides will inject new energy to the implementation of the belt and road initiative so as to promote Hong Kong’s development and prosperity.

On the morning of September 12, the first key projects in the Lingang Area of the China (Shanghai) Pilot Free Trade Zone have were signed and construction has began. The FTZ attracted 23 projects with a total pledged investment of 11 billion yuan. The program of Reignwood Group’s East China headquarters was officially signed and become the first enterprises to enter the FTZ.

As the representative of the biomedical industry, Zhu Huayou, the head of the preparatory working group of Reignwood Group's East China Headquarters, said in an interview the reasons for choosing Lingang: "Linggang has 'three treasures', strategic position, policy environment as well as the waiter spirit”.?

Zhu Huayou said that Reignwood Group is an international and diversified multinational company with more than 100 branches and subsidiaries in Asia, Europe and North America. After the announcement of the Free Trade Zone’s schemes, the Group made instant decision to invest 6.6 billion yuan in the Lingang area and establish the East China headquarters. In the future, Reignwood Group shall grow with the Lingang area and try to achieve win-win development.