A Chinese investment company proposes $3 billion fund to assist Christchurch rebuild

Positive news for Christchurch rebuild:

Christchurch City councillor Jamie Gough with Consul-General Jin Zhijian on Tuesday.

Christchurch City councillor Jamie Gough with Consul-General Jin Zhijian on Tuesday.

Guoxin International Development Company, a global firm worth about $500 billion, announced on Wednesday it was committing to raise a NZ$3b fund for investment opportunities in the post-earthquake rebuild and regeneration of Christchurch.

Christchurch Mayor Lianne Dalziel signed a Letter of Co-operation and Friendship between the city council and Guoxin International.

“This is a very generous commitment from a very large and reputable Chinese company. I’m excited that our community will have the chance to work alongside this company as we shift our focus from recovery to regeneration,” Dalziel said.

The letter is a non-binding agreement, and does not impose any legal or financial obligations or liabilities on the council or Guoxin.

Consul General Jin said the signing of the letter was a symbolic event.

He said the proposed fund “reflects the friendship between our two countries and shows our willingness to help each other in difficult times”.

“The fund also represents a further deepening in collaboration in financial sectors between China and New Zealand,” he said.

While the council was officially tight-lipped leading up to the meeting, Cr Jamie Gough accidentally revealed on Tuesday that the Chinese firm was about to invest big in the city.

Guoxin is China’s largest tendering and procurement company with a focus on major government projects and infrastructure development. In the past 16 years, Guoxin has completed a total of NZ$750 billion worth of projects

Acknowledgements:  – Stuff

http://www.stuff.co.nz/business/industries/72324474/chinese-investors-plan-3-billion-fund-to-help-city-rebuild

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