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Hong Kong New World China Land Limited held a reception meeting in Tianjin Holiday Inn Hotel to thank the support of pubic media for the company. Major media in Tianjin attended the reception. At the reception, Zhang Zelin, General Manager of New World China Land (Tianjin), disclosed that Hong Kong New World Group would continue to increase the investment in Tianjin in 2002. 

Hong Kong New World Group is one of top 10 financial groups and one of top 4 property developers in Hong Kong. Established in 1970, Hong Kong New World China Land Limited is listed in the Stock Exchange of Hong Kong since 1972, and is one of HIS constituent stocks now, with total assets amounting to 130 billion HK dollars. New World China Land Limited is the flagship of New World Group in developing property business, with total domestic investment over RMB 32 billion Yuan. Since its investment in Tianjin in 1985, the company has devoted its major effort in developing Tianjin’s economy. Meanwhile, regarding improving residential environment of Tianjin citizen as its duty, the company fully cooperates with Tianjin municipal and district governments in the construction of Comfortable Housing Project, rebuilding project for old town and urban infrastructure. 

At present, New World China Land Limited has three major companies in Tianjin, and several famous property and business projects, with gross floor area over 1 million m2. As of the end of 2001, accumulated investment in Tianjin was over RMB 5 billion Yuan. 

Mr. Zhang Zelin pointed out at the reception that New World Group will continue to increase investment in 2002 to develop business in all directions. 

At first, New World China Land Limited will increase its investment for Nanshi area. In 1996, in response to the municipal government’s policy of completing the transformation of dilapidated cottages in Tianjin in 5-7 years, New World Group invest for the remove and transformation of Nanshi in Heping District, and at the same time, invested RMB 800 million Yuan for the expansion and reconstruction of 4 main roads of Tianjin-East Chengxiang Road, Nanmenwai Street, Rongye Street and Fuan Street. 

At the end of 2001, New World Group signed another agreement with the government of Heping District on continuous promotion and acceleration for the construction of Nanshi in Heping District. According to the agreement, the Group will continue to increase investment of RMB one billion, with total investment reaching RMB six billion. The Group invested RMB 250 million at the initial phase and removed 800 thousand m2 dilapidated housing in Heping District, marking formal launch of Nanshi planning and transformation project. According to the new master plan of Nanshi, it will be built into a central business and trade area in Tianjin. New Nanshi area after transformation will continue to take the position of old Nanshi as entertainment center, and become a characteristic new business, culture and entertainment center with entertainment, catering and culture as its core. 

Located in Nanshi, the first South Californian style community in Tianjin, Tianjin New World Garden will be formally promoted in 2002. It is a boutique project that the company devoted to develop over past years. With gross floor area of about 150,000 m2, nearly 1000 sets of residential houses are available in New World Garden upon the completion of construction. As for planning and design, we hired famous international design company. The top garden, elegant appearance, heated swimming pool, luxurious resident club, star hotel style property management service, as well as initiative resident sightseeing elevator and children’s special club will make it a rare world-class luxurious residential house, reflecting the strength and level of Tianjin New World. It is the flagship residential project of TIanjin New World. 

In addition, Xin’an Shopping Plaza which is located at the center of golden commercial circle of Dongma Road in Nankai District will be a top class business center in Tianjin in 2002 in respect of business scope, scale and grade. 
Though New World Group focus on economic benefits, it also holds lots of social welfare activities, including the donation of RMB 500,000 Yuan to sponsor the 43rd Tianjin Artistic Gymnastics World Championships, the donation of RMB three million Yuan for the Memorial to Zhou Enlai and Deng Yingchao, and the activities such as sponsoring blind children and Women’s football team. 

Mr. Zhang Zelin also pointed out that the company has many important sales measures, aiming to better serve the society and the public. As usual, Tianjin New World will cooperate closely with media and support each other, so as to create good social and economic benefit.