VANCOUVER, British Columbia, Sept. 25 /CNW/ -- Recipco Holdings Ltd.
today announced the establishment of Recipco (Tianjin) Capacity Exchange Ltd.,
a wholly owned foreign enterprise developed in cooperation with the Tianjin
People's Municipal Government and Tianjin Economic Development Area (TEDA).
Although its offices are already open for business, the official launch
celebration of Recipco (Tianjin) Capacity Exchange will be made at a private
reception on September 26th at the Holiday Inn, concurrent with the World
Economic Forum being hosted in Tianjin. An important Central Government
leader, Vice Mayor Cui of Tianjin, and other special guests will be
participating in the official announcement reception.
"In light of the continued crash of financial institutions in the west
together with a tightening credit market resulting from the sub-prime debacle,
Recipco presents a welcome and innovative alternative for corporate credit
where traditional options are quickly becoming limited," said James Fierro,
executive chairman of Recipco Holdings. "Systemic problems in the current
monetary economy are causing concern about the future of credit and Recipco
offers a fresh approach; one that helps mobilize the world's unused capacity
regardless of the availability of cash or credit."
"Given Tianjin's leadership and special role in the promotion and
development of innovations in financial services, we believe it is the ideal
location for Recipco to establish its flagship operation in China." China is
rapidly emerging as a global economic power and is currently a leader in
providing productive capacity for the world. "This makes for a perfect
marriage with Recipco which offers an innovative approach to creating value
from China's enormous capacity as well as for its future potential for
Recipco Holdings Ltd. provides corporations and government institutions
with a trading platform (the Recipco Capacity Exchange), which organizes the
global market of available and unused capacity into a unique, structured
marketplace where organizations can buy and sell each other's capacity.
Recipco is transforming this market by making capacity more universally
accessible and by bringing structure and wholesale financial markets best
practices to facilitating its trade. Industry sectors on the Recipco Capacity
Exchange include transportation, energy, printing, media, paper,
telecommunications and travel.
Tianjin, an international harbor and economic center in the north of
China, is one of the four priority Municipalities directly under the Central
Government of China. The development and opening of Tianjin Binhai New Area
is specifically named in the 11th Five-Year Plan for the Development of
National Economy and Society in the People's Republic of China (which was
approved of in 2006) as part of the country's overall national development
strategy. Tianjin presents an attractive investment environment due to its
convenient port transportation, open market, excellent logistic services,
competitive investment policies, and highly efficient government services.
Tianjin is also playing an important part in China's Comprehensive Economic
Reform Policy with special leadership in the areas of financial innovation and
Melissa Remoundos Helen Qian
(86) 13521516887 (86) 1391863414
For further information:
For further information: Helen Qian, (86) 13918634148,
firstname.lastname@example.org, or Melissa Remoundos, (86) 13521516887,
email@example.com, both of Recipco Holdings Ltd.