On Nov 5 and Nov 6, “World Capital Forum Chongqing 2008” successfully took place in Chongqing, China. A number of high government officials, economists, investors and entrepreneurs were present at this grand private equity forum hosted by Etech Securities along with Phoenix Satellite Television (US). The participants include Huang Qifan (Executive Deputy Mayor of Chongqing), Daniel De Tour (Vice Chairman of Etech Securities, Inc.), Wu Xiaoyong (President of US Phoenix Satellite Television), Zhang Yanling (Vice President of China Chamber of International Commerce), Di Na (Deputy Director of Ministry of Industry and Information Technology of the People’s Republic of China), Cao Yuanzheng (Chief Economist of Bank of China International), He Xiaofeng(Dean of Finance Dept. in School of Economics of Peking University), Xie Min(Managing Director of Avenue Capital) and Zhao Yuanjun(Managing Director of CCMP).

Mr. Huang Qifan, Executive Deputy Mayor of Chongqing, said Chongqing is now the most important inland city in China and the representative city of Midwest region development. Through this Forum, many prestigious international institutions and private equity investors will increase their understandings of China as well as the investment opportunities in Chongqing. It will also help Chongqing become the inland financial center of midwest region of China.

In addition, Zhang Yu, president of Etech Securities(China), stated that there were a total of 8 companies among approximately 70 participated Chongqing local corporations had signed agreements with Etech Securities to help them introduce private placement over the past 2 days, which was more than 200 million U.S. dollars of private placement. It was reported that these 8 companies’ businesses cover energy, consumer goods and manufacturing industries. Each company’s private placement amount was more than 25 million U.S. dollars. He also mentioned the minimum financing threshold is that the company needs to be profitable for last three consecutive years and the most recent year profit is more than 5 million U.S. dollars.