On the morning of January 9, Chinese investment firm Reignwood Group signed a comprehensive cooperation agreement with Changzhou National Hi-Tech District (CND).
Under the terms of the agreement, Reignwood plans to invest 30 billion yuan in the aggregate, including an initial amount of 10 billion yuan, in projects covering several strategically-positioned industries, among them, fast-moving consumer goods, sustainable healthcare and financial leasing. Key projects include:
- Establishment of Reignwood’s Eastern China headquarters in Changzhou’s High Speed Railway New Town, a newly-developed area with a station served by the country’s high-speed rail lines;
- Construction of a regional clearing house for fast moving packaged goods that is expected to generate at least 2 billion yuan in annual turnover;
- Renovation and upgrade of the terminal owned by Changzhou New Yangtse River Port and of Jinling Plaza Changzhou, a four-star hotel, through a series of mergers and reorganizations;
- Establishment of a commodity trading platform at Changzhou Port;
- Introduction of functional beverage or healthcare product lines at CND’s Healthcare Industrial Park with the aim of addressing the needs of markets in eastern China;
- Establishment of an aviation industry fund and an operations center serving eastern China providing aviation logistics, aircraft marketing and sales, as well as the upgrading and maintenance of large passenger aircraft.
In addition, the group plans to host the Changzhou Finals of the Yangtze River Economic Belt Tennis Open in partnership with CND later this year.
Reignwood Group, founded by Chanchai Ruayrungruang (also known as Yan Bin), a Chinese-Thai businessman with a strong interest in China’s economic success, is an international company with branches and subsidiaries worldwide. Chanchai, often referred to among his peers as the “Father of Chinese Functional Beverage”, pioneered the category’s development in China. The company now operates in multiple business segments. In 2019, the firm’s global revenue exceeded 100 billion yuan. The huge investment supported by the partnership with CND demonstrates Reignwood’s commitment to accelerating its growth by leveraging the opportunities presented by the implementation of government strategies in connection with the growth of the Yangtze River Economic Belt and the integrated development of the Yangtze River Delta region, alongside the ongoing construction of Changzhou’s High Speed Railway New Town.