On 4 September 2009, the contract signing ceremony of Wuhan Shimao Carnival project was grandly held by Shimao Property Holdings Limited and Wuhan Caidian District government. Mr. Luo Qingquan, the Secretary of CPC Hubei Provincial Committee, the Director-General of the Standing Committee of Hubei People's Congress; Mr. Yang Song, the Deputy Secretary of CPC Hubei Provincial Committee, the Secretary of Wuhan Municipal Committee; Mr. Li Mingbo, Member of Standing Committee of Hubei Province, Secretary-General of CPC Hubei Provincial Committee; Mr. Ruan Chengfa, Mayor of Wuhan Municipal Government; Mr. Hui Wing Mau, JP, Chairman of Shimao Group attended the contract ceremony.

The investment of Wuhan Shimao Carnival project will exceed 40 billion RMB, and the total construction area is more than 8 million square meters. With the long history of Wuhan Zhiyin Culture and beautiful natural environment, the project will be built into a first-class ecological landmark with Interactive Experience Center and Indoor Theme Park radiating Central China. The project is planned to start at the end of this year, initially scaled within 3 years and accomplished in 5 years. It will become a new green ecological city, which includes business, tourism, hotels, exhibitions, offices, high-tech park, headquarters, residence and entertainment facilities. Its annual capacity of tourists will reach 20 million. The projects will offer 100 thousand job opportunities and have 10 billion RMB turnover reach year by its business and tourism facilities, increasing more than 1 billion tax revenue for the local government.

Mr. Hui Wing Mau, JP, Chairman of Shimao Group said in the ceremony, Shimao has long been walking in the forefront of the country’s regional economic development, fully cooperating with local government, taking part in the city image building and shaping city brand. Wuhan, as the leading city of Central China, is a very important part of Shimao’s “Central China Strategy”. Wuhan Shimao Splendid River project has already won high recognition of the market, and has become a landmark of international waterfront community in Wuhan. Under the intimate care and great support of Hubei Province and Wuhan government, Shimao has confidence to build the Carnival project into a new business and entertainment landmark in Wuhan and even in Central China. Shimao will devote itself to the improvement of modern service industry and the construction of ecological residential city for Wuhan.

Mr. Ruan Chengfa, Major of Wuhan Municipal Government, is also filled with hope towards Shimao Carnival project. He indicated that Shimao Carnival project will have positive effect on both upgrading the city function of Wuhan and expanding its business, trading and tourism industry. The project took only 3 months from negotiation to contract signing due to the sincerity of Shimao’s investment in Wuhan as well as the high attention of provincial, municipal and district governments. The contract signing ceremony symbolizes that the project has entered into a substantive operation phase, and the government will spare no effort in supporting and promoting this project. We believe, with the leadership of chairman Mr. Hui Wing Mau, Shimao will bring extraordinary planning and design masters to build a new city card for Wuhan.