Department store magnate Henry Sy is expanding its investments in China with the addition of one more mall in Chongqing, Sichuan province, making a total of four SM malls in China.

Francis Chua, special Malacanang envoy on trade and investments to China, bared this following the visit of the 300 Chinese businessman from Chongqing who are exploring business opportunities in the areas of mining, shipbuilding, motorcycle and a chain of restaurants. 
 

At present, there are three SM Malls in China strategically located in Jingiang City in Fujian province, west Xiamen and in Chengdu in Sichuan. Should the Chongqing SM mall pushes through this would be Sy’s fourth mall in China and second in Sichuan.
  

The SM malls in China however, are all private investments of Henry Sy. There are plans though to fold in these malls into SM Prime Holdings of the SM Group.

In addition, Chua said that Philippine Airlines is opening up a direct Manila-Chongqing flight due to increase traffic for business and tourism. This would be PAL’s fourth route in China. At present, PAL directly flies to three cities in China namely, Beijing, Shanghai and Xiamen.

“This is the indication of the growing trade between this province and Manila,�? Chua said. Chongqing has a population of 35 million Chinese and is home to motorcycle manufacturers and builders of luxury cruise ships.

Meantime, the visiting 300 Chinese business delegation from Chongqing, Sichuan, which is located in the middle of China and its hottest province in terms of temperature, bared of investment plans in the country on several sectors such as mining project in Palawan, motorcycle manufacturing, shipbuilding and restaurant business.

The business delegation has already met with President Gloria Arroyo and the local Chinese community led by Chua.

During the meeting, Chua said the President told Chinese to consider Sta. Rosa, Laguna as possible site for its planned motorcycle manufacturing plant in the country.

Sta. Rosa is home to, the country’s motor vehicle assemblers that locating in this area already provides a good cluster of suppliers for the Chinese motorcycle project. This means that spare parts for their operations can be sourced locally.

Chongqing is home to China’s biggest motorcycle manufacturers. Chongqing motorcycle manufacturers have the capability to produce generic motorcycles that are exported and are branded locally.