CDC Global Services Announces Expansion Plan in One of China’s Most Prosperous and Rapidly Growing Cities
February 07 2011 - 8:00AM
Business Wire
CDC Global Services, a business unit of CDC Corporation (NASDAQ:
CHINA) and a provider of consulting, IT and IT-enabled services,
announced its plans to move its Shanghai corporate headquarters in
the next three years to the upcoming state-of-the-art Sanshan
Science and Technology Park in Foshan, as part of its long-term
plans to expand its operations in one of China’s most prosperous
and rapidly growing cities.
CDC Global Services outlined its expansion plans during a
ground-breaking ceremony last month for its future corporate
headquarters on this 70-acre campus within the Nanhai District
municipal government’s Sanshan Science and Technology Park. The
completion of the construction is scheduled for 2013. Nanhai
District government plans to build 10 million square meters of
construction floor space in the next five years that is expected to
attract more than RMB100 billion in industry investment in the next
five years. Foshan is the third largest city in Guangdong, China’s
largest province. The city holds one of the highest gross domestic
product (GDP) per capita in the country. Foshan is considered one
of the top-10 fastest growing cities in China, and has a large
manufacturing sector, including companies that design and
manufacture electrical appliances, textiles, garments and ceramics
products.
As part of its expansion, CDC Global Services plans to move its
development and technology operations, as well as set up a new
global delivery center in Foshan. Already, CDC Global Services
recently opened a government-funded cloud computing center there.
The Cloud Computing Center provides cloud-based computing resources
to the public sector users and businesses in the city of Foshan and
neighboring regions.
Late last year, CDC Corporation also announced an agreement with
the government of Nanhai District to jointly establish a private
equity fund, “Foshan Nanhai-CDC Technology and New Media Fund,” to
initially be funded at 600 million RMB. The Fund is expected to
mainly consist of investments in start-up and growth technology
companies, as well as leading U.S. technology and new media
companies.
“Our current initiatives planned and underway illustrate our
strong commitment to Foshan and the government’s aggressive
development of this dynamic region,” said CK Wong, CEO of CDC
Global Services. "Our planned expansion in Foshan is expected to
position CDC Global Services for key growth in the next five
years.”
During the ground breaking ceremony, Ou Bangmin, Mayor of the
people’s government of Nanhai district, said, "The new Sanshan
development will attract new industries, technology and capital.
Urban construction and the development of new industries will grow
side by side following our concept of promoting the height of
talent, industry and ecology.”
About CDC Global Services
CDC Global Services provides IT consulting services, including
platform-specific services for Microsoft and SAP, as well as
project management, staff augmentation, managed-help desk solutions
and a full range of business process outsourcing offerings. It can
also provide hardware for data collection and RFID, through
partnerships with some of the industry's most reputable vendors.
CDC Global Services embraces a customer-first approach being able
to draw upon a wide range of expert resources to address each
customer's unique business needs, while keeping their best interest
as a top priority. CDC Global Services customers benefit from
streamlined vendor management and the ability to control project
costs, while being able to access the right IT resources through a
singular point of contact. For more information, please visit
www.cdcglobalservices.com.
About CDC Corporation
CDC Corporation is a China-based value-added operator of, and
growth investor in, hybrid (on premise and SaaS) enterprise
software, IT, and new media businesses. The company pursues two
value-added investment strategies. The first strategy includes
actively managing majority interests in its core portfolio of
hybrid enterprise software, IT services and New Media businesses,
adding value by driving operational excellence, top-line growth and
overall profitability. The second strategy includes identifying and
executing on opportunities to co-invest with leading venture
capital and private equity funds through minority interests in
fast growth companies in emerging markets related to CDC
Corporation’s core assets. This second strategy, which complements
the first, helps to mitigate risk and enhance deal flow for the
company. CDC Corporation expects to deliver superior returns and
additional value for its shareholders through these strategies, as
well as through its plans to declare and pay regular dividends in
the form of registered shares of its publicly listed subsidiaries
and other assets. For more information about CDC Corporation
(NASDAQ: CHINA), please visit www.cdccorporation.net.
Cautionary Note Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements include
statements regarding CDC Global Services’ plans for relocation and
expansion and the timeframe therefore, our expectations regarding
the Sanshan Technology and Office Park’s ability to attract
industry investment and the projected amount thereof, our
expectations regarding the Foshan Nanhai-CDC Technology and New
Media Fund, including the closing thereof and the receipt of any
requisite approvals and the satisfaction of any required
conditions, and other statements we may make. These statements are
based on management's current expectations and are subject to risks
and uncertainties and changes in circumstances. There are important
factors that could cause actual results to differ materially from
those anticipated in the forward looking statements. If any such
risks or uncertainties materialize or if any of the assumptions
proves incorrect, our results could differ materially from the
results expressed or implied by the forward-looking statements we
make. Further information on risks or other factors that could
cause results to differ is detailed in filings or submissions with
the United States Securities and Exchange Commission made by CDC
Corporation in its Annual Report for the year ended December 31,
2009 on Form 20-F filed on June 30, 2010. All forward-looking
statements included in this press release are based upon
information available to management as of the date of the press
release, and you are cautioned not to place undue reliance on any
forward looking statements which speak only as of the date of this
press release. The company assumes no obligation to update or alter
the forward looking statements whether as a result of new
information, future events or otherwise. Historical results are not
indicative of future performance. For these and other reasons,
investors are cautioned not to place undue reliance upon any
forward-looking statement in this press release.
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