Aquagold International Inc (AQUI)

[Fishing at Surfside]

edit: major mover and shaker ....

THE SALESMAN

ZHAO QIZHENG IS ONE of Shanghai's many adopted sons. He arrived in 1974 from northern Hebei province and found the city ideally suited to his high-octane personality. To begin with, he built aeronautical devices -- he has two national patents and once was named Advanced Technical Worker. But Zhao wanted to fly higher, and politics seemed the way. After making his mark in Shanghai's Industrial Works Committee and the local Standing Committee, in 1991 Zhao was made a vice-mayor. Being an outsider had unexpected benefits. In the early 1990s, local authorities were looking for someone clever to mastermind the development of Pudong. No local Shanghainese would touch the job with a bamboo pole. Despite all the rhetoric, the special development zone was then way behind schedule. But Zhao wasn't proud. He took the job and that, as the Chinese say, was the beginning of heaven and earth. It certainly didn't hurt when Deng Xiaoping dropped by in 1992 and famously exhorted Shanghainese to catch up with their arch-rivals in southern Guangdong province. The next thing that Zhao knew, he was sitting astride the locomotive driving Shanghai's entire revitalization. Today he is Pudong's most zealous promoter, displaying all the verve of a veteran salesman. "Pudong's main advantage lies in its geographical location," says Zhao. "Even if God got angry and shifted the land around, the area would still be perfect as a financial, commodities, labor and info-hub." A second subway line is planned. Zhao promises a new airport the size of Chicago's O'Hare. More than $12 billion in foreign capital has been committed to some 4,000 joint ventures. "Pudong's development is open to the world," Zhao likes to say. Well, to an extent. He is experimenting with trading joint ventures, and nine foreign banks have been granted permission to start domestic renminbi accounts there. But even Zhao admits it is still too early to open up the renminbi market entirely. There are other concerns. Some say Pudong is vastly overbuilt and predict a crash. And rivals in Hong Kong worry Shanghai may lay claim to its title as China's financial center. Zhao begs to differ. He foresees his city becoming China's domestic banking center: "But if by 2010 Shanghai catches up with where Hong Kong is today, then it will be a success story." First, Zhao wants Shanghai to add its weight to the commercial might of Asia's major business centers. "If these pearls all shine, they'll complement each other." Talk about a sales pitch.

http://www.asiaweek.com/asiaweek/97/0502/cs2.html