Creator Capital Ltd Ord CTORF

Creator expanding in China

[warrenbuffet99]

Building success in the west LANZHOU, China - The provinces and autonomous regions in China's west have stepped up efforts to improve their business environment to attract more overseas investors. Authorities are giving priority to building infrastructure facilities, improving the ecological environment and increasing government efficiency. The provincial and regional authorities in western China have also made efforts to crack down on unlawful practices, including power abuse and bribery and embezzlement, to build a favorable legal environment for investors. Since last year, the government of Urumqi, capital of Xinjiang, has revised or abolished 53 regulations and documents to simplify administrative procedures. Lanzhou and Xi'an, capitals of Gansu and Shaanxi provinces respectively, have vowed to improve their services for both residents and investors. Shaanxi province, a leading agricultural base, has already spent a total of 200 billion yuan (US$24.18 billion) on infrastructure improvement, especially transportation facilities, over the past three years. Gansu province has finished building a number of highways, including the national highway from Tishui to Chankou, and others are under construction. The Xinjiang Uygur Autonomous Region now ranks first in transportation facilities construction in the country. So far, it has built 33,500 kilometers of highways and 3,008 km of railways, and opened 60 air routes. With the improvement of the business environment, an increasing number of overseas investors have come to western China. This year, 19 foreign energy firms, including BP Amoco, Royal/Dutch Shell, Exxon Mobil and the France-based Total FinaElf Oil Co, joined the bidding for China's west-east natural-gas pipeline project. The western region includes nine provinces and autonomous regions and one municipality, with a total of 5.4 million square kilometers and a population of 285 million, accounting for 56 percent and 23 percent, respectively, of the nation's totals. However, its per capita gross domestic product (GDP) is only equal to 60 percent of the national average. Western China has rich resources for the development of the metallurgical and petrochemical industries, as well as the chemical industry, with coal and salt as raw materials. China adopted the strategy of developing the west in 1999. Experts believe that the development of China's west is very important for the development of the country as a whole in the 21st century. "The strategy provides an opportunity for us to catch up with China's coastal regions. My province will strive to become an ecological shelter belt for the Yangtze River Valley, as well as an economic powerhouse in the west," said Sichuan Governor Zhang Zhongwei. Carrefour looks west French retailer Carrefour plans to open 10 supermarkets in China per year over the next few years, bringing its investment in the country to between $100 million and $150 million annually. The company will shift its development focus from large cities such as Beijing and Shanghai to western China, which is seen as a potentially huge market. At present, Carrefour has 27 supermarkets in China. More than 97 percent of the staff are Chinese. The company pledged to increase the company's purchase value in China from $300 million to $1.5 billion this year. Carrefour also plans to turn China into its global distribution center. By the end of this year, China-made products will be shipped to Carrefour's retail shops in 31 countries and regions.

[MoneySapiens]

I hope you're right about this week's news. It must be a big one for them taking so long to make the announcement. Some investors were growing impatient.

[XOXOXOXOXOXO]

another putz with no date - lets go get some cocktails

[warrenbuffet99]

At least I'm smoking a cig.