NEW YORK, NY--(MARKET WIRE)--Oct 3, 2008 -- The City of Shenzhen, China announced today that it will be hosting a luncheon ceremony on October 27 at the Marriott Marquis in New York, to celebrate the opening of the New York Representative Office of Shenzhen and to discuss key economic developments as well as business opportunities between Shenzhen and the U.S.

The opening ceremony will feature Mr. Wang Xuewei, Director-General of Shenzhen Bureau of Trade and Industry, Mr. Fang Hui, General Manager of China Merchants Bank in NY, Mr. Liu Jingqing, President of Huawei Technologies USA, an official from the Chinese Consulate and representatives from both the State and City of New York. The event will highlight the official opening of the Shenzhen Office with a special ribbon cutting ceremony and a contract signing ceremony. The opening of the New York office will strengthen Shenzhen's commitment to forging closer ties to businesses and the financial community located in New York as well as other parts of the U.S.

Shenzhen stands out as a miracle of China's economic development and urban construction, as it has attracted over US$30 billion in foreign investment with 148 Fortune Global 500 companies, and cultivated many of China's multinational companies like Huawei Technologies, China Merchants Bank, China Ping An Insurance, etc. With a population of around nine million, Shenzhen has been the fastest growing city in China for the past 30 years. In 2007, the GDP reached a record high of US$90.81 billion, an increase of over 15% from 2006. Shenzhen is the only mainland city to break the per capita GDP of US$10,000 in China.

For more information about the opening ceremony, please contact Leslie Wolf-Creutzfeldt, at 646-284-9472, or email: lwolf-creutzfeldt@hfgcg.com.

For more information about the City of Shenzhen and North American Representative Office of Shenzhen, China (NAROS), please contact Andrew Pan, at 213-628-9888 or visit www.shenzhenoffice.org.

     Contacts:
      
     Investor Relations
     Leslie Wolf-Creutzfeldt
     T: 646-284-9472
     E: lwolf-creutzfeldt@hfgcg.com
      
     Media Relations
     Ivette Almeida
     T: 646-284-9455
     E: ialmeida@hfgcg.com