China to build modern 'China Town' at the Gulf

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Last updated at: (Beijing Time) Thursday, April 08, 2004

China to build modern 'China Town' at the Gulf

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The construction of the Distribution Center for Chinese Commodity (Dubai) will go to completion and open this year. The center, with the biggest investment, is the largest platform of economic and trade built overseas so far.

As a joint venture between the Chinese government and the government of UAE, the center receives a total investment of US$300 million. It can be regarded as a "China town" at the Gulf region. With a total area of 340, 000 square meters, the center is a modern complex shopping city, which consists of market, warehouse, apartments and other facilities. Upon completion, nearly 4, 000 Chinese enterprises will be providing commodity, transportation, storage, and life service; more than tens of thousands kinds of Chinese commodities will be displayed here. The center is not only a platform that extends trade to the adjacent markets with a population of 1.5 bln, but also the largest modern Chinese community incorporating trade, culture, catering and entertainment ever built abroad, says Wei Jianguo, Vice Minister of the Chinese Ministry of Commerce.

According to Wei Jianguo, there are three reasons for building the center in Dubai.

1. Located at the juncture of the Europe, Asia and Africa, the Middle East with a population over 400 million enjoys an advantageous location. From UAE, the business will extend to markets in Middle East, East Europe, Africa and Central Asia, where 1.4 bln people dwell. Moreover, the Middle East is the largest energy reserve in the world. 2. Economy in UAE is thriving. As the 2nd largest Emirate of UAE, Dubai boasts well-equipped ports and quality service. It is thus nicknamed "Hong Kong" of the Middle East. 3. The distribution center offers commodity display. The local businessmen can check samples and place orders here, which make trade more efficient and convenient.

By People's Daily Online

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