The Municipal Government of Shenyang, China Announces an Electric Bus Project

SHENYANG, China--June 16, 2005--FDI Newswire--The Science and Technology Bureau, the Municipal Government of Shenyang, China hereby announces the following project that is seeking foreign direct investment.

The project consists of:

Construction Content: The project adopts new motor design theories, which makes the performance hold a leading position at home. The project covers a ground area of 66600 square meters with a building area of 25000 square meters for factory houses, 5000 square meters for office buildings, and 10000 square meters for warehouses.

Market Analysis and Forecast: With the economic development and people's living standard being improved, energy saving and environmental protection have attracted great attentions from the people. It has become a worldwide trend to develop related industries with environmental protection as the theme. As the problem of waste gas out of cars becomes more and more serious, electric bicycles, electric motors, small electric vehicles and cars as well as buses have been listed as the top choice. It is certain that fuel cells will be used widely. Restrictions from high environmental protection requirements and oil resources have provided clean car especially electric car market a great prospect. Technological development has enabled electric car industrialization to become true gradually. China lags far behind developed countries in terms of traditional car industry, which makes Chinese government determined to support development of electric cars in hope to seek a great leap forward in terms of auto industry in China.

Trial production and test of electric cars in our country are almost at the same level with developed countries worldwide. "New Generation Car" development in the US has a short history of only 20 years. The state is planning to invest 880 million yuan to electric car projects in the "Tenth Five-year" period. Besides Wuhan, cities such as Beijing, Tianjin, Shanghai and Changchun etc. have started electric car projects. Approximately over 70 enterprises are engaging in such projects.

According to 863 Plan, electric cars can save over 30% of the energy and reduce more than 50% of the waste. The production cost is 30% lower. If the technology is ripe, the product can enter international market. The project will establish a production line of producing 1000 electric cars and buses annually and will bring great economic benefits. It has huge development potential.

Economic Benefit Analysis: Output Value: RMB 1 billion yuan; Profit: RMB 100 million yuan; Tax: RMB 30 million yuan; Investment Recovery Period: 10 years

Details are as follows:

Project Title: Electric Bus Project

City: Shenyang

Country: China

Type of Investment: joint venture and partnership

Projected Total Investment sought (in US Dollars): 61 million

Contact Info:

Company Name:       Civil Development Office of Tiexi District
                    Government
Company Address:    Private Industrial Town in Shenyang Economic and
                    Technological Development Area, Shenyang. Liaoning
Company Contact:    Mr.Chen, project manager
Contact email:      2005nea@163.com
Contact Phone/Fax:  86-24-25371738 / 86-24-22721432

Agency Name:        Science and Technology Bureau, the Municipal
                    Government of Shenyang
Agency Address:     260 Shifu Road, Shenhe District, Shenyang,
                    Liaoning, China
Agency Contact:     Chen Hongyu, Director
Agency Email:       Vincechen@systi.net.cn
Agency Phone/Fax:   86-24-22721526 / 86-24-22721432

This project is one of many investment opportunities in China being featured at the "2005 Northeast Asia Hi-Tech Fair" to be held on September 21st - 24th, 2005 in Shenyang City, Liaoning Province of P. R. China. The fair is approved by Ministry of Science and Technology (MOST) of the People's Republic of China and will include the participation of the Korea Foreign Trade Association, The Russian Union of Industrialists and Entrepreneurs, The Ministry of Agriculture of People's Republic of Mongolia, Sino-Kyushu Industrial Technology Consultation. For more information: www.neahtf.org.