The United Nations Technological and Information Promotion System
(TIPS) will act as an intermediary to help draw billions of dollars
in investment for large-scale projects in China. It will also help
Chinese companies become authorized suppliers to numerous UN
agencies.
Zhu Renjie, head of the TIPS East China Operation’s Department
II, said 100 projects are planned that will cost at least 100
million yuan (US$12.0 million) each.
However, the UN is not the direct investor. Instead, the TIPS
will select projects and act as an intermediary for the European
Union, the World Bank, as well as leading financial institutes and
others.
The TIPS will collect data and verify information for project
proposals and will share these with investors.
Most projects involve the energy sector and infrastructure
building but exclude renovations of heritage sites, environmental
protection, large-scale manufacturing and high-technology
manufacturing.
Zhu added that the 100 projects must all be environmentally
friendly and will boost sustainable growth in the different
locales.
At least US$600 million will be required for each of the 10
proposed development parks, which are to meet international
standards.
The TIPS will help potential global investors select locations
for these development parks all around China.
However, insiders point out that the majority of the 10 parks
will be located in eastern China, where economic growth is moving
at a much faster speed.
Apart from these large investments, organizations attached to
the UN will be the major buyers of US$1 billion worth of products
from Chinese companies.
On average, UN agencies will spend at least US$30 billion this
year to buy products from authorized suppliers everywhere in the
world.
Since 2002, UN officials have been visiting Shanghai and other
major cities to seek out potential suppliers.
(China Daily February 27, 2004)