Recollecting the Past Glory and Dreams in Hangzhou by Hangzhou Daily, June 29, 2007
      Shanghai and Hangzhou are two cities with a long history in China. Hangzhou bay connects these two cities since ancient times, and now modern transportation even narrow the gap between them. They are two neighboring metropolises with frequent exchanges; they both have individual complementary advantages and lie at the Yangtze River Delta. They are the most powerful drivers of China’s continuous economic growth.
      “High-rise exotic architectural complexes are towering along the Bund, and elegance of all nations comes into sight.” Shanghai is always the famous meeting place for heroes.

      Opening the old photo album, we can see as early as hundred years ago, many Hangzhou natives came to Shanghai for seeking their dreams. They studied or established their own businesses in this city and finally returned for repaying hometown; some Shanghai people also purchased houses and properties in Hangzhou. The two places have the same folk customs and deliver the cordial feeling each other naturally.
      In recent years, more and more Hangzhou natives pay close attentions to Shanghai. They usually work hard and devote themselves to various fields including economy, education, health care and so on; and have been making great contributions to Shanghai’s social, economic and culture development. They are shaping the most wonderful landscape for Shanghai as an international metropolis with their unique insights, advanced wisdom and tough stamina. Meanwhile, Shanghai also helps them to realize their dreams. They are the wave riders of the Huangpu River and the pride of Hangzhou.
      ”Wave riders of the Huangpu River---Hangzhou natives in Shanghai” We are willing to learn the hardship, growing pains and success pleasure of these entrepreneurs.

      Mr. Ni is a Forbes magnate with three office buildings in Xiaolujiazui District, Shanghai; a real estate tycoon developing properties in west Beijing City, and a successful oversea oil energy developer. In Shanghai, the success of Zhongrong Group is reputed as a legend. Recently, the reporter interviewed the creator of the legend, Ni Zhaoxing, who set up enterprise in Hangzhou and expanded business in Shanghai with another title of President of Shanghai-Hangzhou Chamber of Commerce.

Investment of Lujiazui stunned Shanghai
      In the late 1990s, with over ten-year real estate development experience, Ni Zhaoxing decided to expand his business in Shanghai with his wife, Gong Jianxin who also had ten-year working history in the financial industry. At that moment, the local real estate market was in recession after the Asian Financial Crisis. Through a detailed investigation, Ni invested tens of millions funds and successively purchased three parcels of waste land in the center area of Lujiazui to construct commercial buildings.
      “I thought the Pudong’s housing price was seriously underestimated at that time, and the price was much lower than its value, this violated the market discipline. The prices of office building in Tokyo, Hong Kong and other cities were ranged from 6000 dollars/m2 to10000 dollars/m2 then, but the highest price in Pudong was just 20% of them.” Ni Zhaoxing considered that, Shanghai’s lower housing price was temporary, for Shanghai is a national and global financial center, it will also be a most active place in the world. “If a dragon wants to fly, he will certainly raise his head. Shanghai is not only represents his head but also the eyes”.
The fact proves Ni’s judgment is correct. Afterwards, Shanghai has been defined as an international economic, financial, trade and shipping center and Pudong would play an essential role and radiate Yangtze River Delta.
      Today, one of the waste land has been built into headquarter of the Zhongrong Group. From the window on the top floor, you can overlook the Huangpu River, stores, coffee shops, banks and streams of cars. In the past ten years, the rapid development of Lujiazui has delivered abundant returns to Zhongrong Group. The initial investment has increased by tens of times and yielded several billions of fortune. Together with Jinmao Tower and the Oriental Pearl TV Tower, Zhongrong Jasper tower is honoured as one of the “Top Ten New Landmark Office Buildings” in China.
      Other traders in the real estate industry admire and appreciate the couple. Regardless of whether the times create heroes or heroes decide the course of history, they admire the story of starting from scratch. Additionally, miracles continuouslly occur. Ni Zhaoxing always gives us different surprises all the time.

The First Man Who Has Successfully Developed Oversea Energy
      On January 3, 2007, Wall Street Journal Asia became the bestseller and was sold out in many newsstands in Hong Kong. Miss Ge who works for Goldman Sachs Asia heard vendors asked in surprise: “what’s up?” The answer was a Chinese businessman - Ni Zhaoxing successfully drilled out oil from Williston Basin, Saskatchewan, Canada. This news was published on the front page of the paper. Miss Ge said, this report captured highly attention from the financial circle. They searched news about Ni Zhaoxing on internet and wished to know more about the legendary businessman.
      The reporter learned that Zhongrong Group established a Canada-based energy holding company CCEC and became the first Chinese private transnational enterprise developing energy in North America. Since 2005, CCEC obtained land rights of exploring 1000 oil wells through competitive bidding. CCEC employed more than 20 foreign and domestic leading scientists, energy experts and dozens of Chinese engineers who devote all their lives to oil industry. According to their analysis, oil can be found in 60% of 15000 hectares land purchased by CCEC in Canada.
      CCEC President, Gong Jianxin described the scene of their first well drilling: “On 29th October, 2006, after four consecutive days’ hard work, we took oil sample successfully, found clear oil indication and good visual permeability. Through continuous drilling in the next ten days, the well was formally confirmed as productive”.
      Some people discussed Zhongrong Group conducts diversified business, but Ni Zhaoxing believes the enterprise has not departed from his primary strategy as an investment company which should not be limited to one or some certain industries. Although the enterprise has competitive advantages in real estate development, Ni Zhaoxing expressed the preventable of real estate investment should be dynamically adjusted to avoid blind development, ensure products competitive and rhythmically expand into other industries. Ni is very optimistic on energy industry and regards it is time to enter oversea energy market.
      Ni said: “I will do what my country and market demand for, and national strategy is our strategy. This is our philosophy and orientation we adhere since Zhongrong was founded in 1992. A person or a company will achieve a success when their careers connect with city and national interests. Energy is important and scare resource. The energy investment of Zhongrong Group is strategic instead of tactical.”
     Why they selected Canada to exploit oil? Ni said: “Canada has rich energy resources and keeps a good friendship with China. In the difficulties days of 1960s, wheat from Saskatchewan saved people in China. Canada has sound legal system and high integrity. The efficiency, strong service awareness of Canadian government is a superior assurance for oversea investment.” Now, the successful investment experience of Zhongrong Group in Canada becomes the representative of the profitable investment environment of Canada. Many members of Zhejiang or Hangzhou chamber of commerce are inspired by Zhongrong’s investment case and visit Canada frequently to seek investment projects.
      During the long holiday of Labor Day this year, Ni visited important oil towns in North America, such as North Dakota, Denver, Oklahoma and Gulf of Mexico and received warm welcome by the local state governments and energy departments. Ni said his expert team of Zhongrong Group was conducting study to prepare for establishing an oil development company in the U.S.

Revaluation of Western Beijing Development
      Ni likes to study a city’s development rules and has his own judgements. He thought western suburb in Beijing would be revalued as the Beijing Olympic Games was coming, Shougang Group was relocated and Chang’ an Avenue extended towards the west. In 2004, Zhongrong Group purchased a parcel of land in the Western Suburb. “It takes only 30 minutes drive to Tiananmen Square. After the extension of Chang’ an Avenue, here would be the western terminal of the Chang’ an Avenue. Therefore I called this place ‘Beijing Chang’an No. 1’.”
      Zhongrong Group invited French classical architecture artists and court artists to build 78 garden manors which combine modern style with French classic architecture and imperial garden arts. It’s extremely suitable for the world's top 500 companies, famous artists, consulates and international organizations to set office or reside here. The manors are grand and magnificent and will generate considerable fiscal revenue for local government and upgrade the urban image of Mentougou of Western Beijing. “Beijing is the heart of China, and I believe our project of Beijing Chang’an No. 1 will surely surprise the world!”

Hongzhou is the Most Beautiful City in His Heart
      Ni has many stories and has been to many places, but he still loves his hometown the most. He said Hangzhou is the most beautiful place in his heart after all.
      Even Zhongrong Group’s business strategy has been focused on two of the most important cities in China, which are the capital city of China – Beijing and the economic and financial center – Shanghai, Ni has never moved his attention away from Hangzhou. He said, “Hangzhou is endowed with natural beauty and has something very unique that other cities do not have. Therefore, we have to decorate this beauty in an extraordinary way.” In Ni’s heart, his hometown – Hangzhou has always been the most beautiful city.
      In Hangzhou, Zhongrong Group has successfully developed the “Rome Apartments” on Tiyuchuang Road and the “Roman Garden” on Tianmushan Road in the early years. “We have constructed nine buildings in Hangzhou in exactly ten years, Zhongrong has gained a lot through this process, whereas this gain here does not refer to how much money we have made, but the concepts and experiences that we have gained on urban development.”
      In September, 2006, when Shanghai-Hangzhou Chamber of Commerce was established, Ni Zhaoxing said, "Hangzhou is the place where we born and grew up, and is the place where I hit my first bucket of gold and learned how to do business, therefore, I have strong gratitude for her. We are all from Hangzhou and sure we are all hoping that Hangzhou will become even better in the future, so we have to link enterprise development and hometown development together.” Ni is a doer and never a talker; he thinks that he has to do something in developing his hometown. “People has many different ways of repaying their hometown, but for me, I think I will choose the way that I am best at, which is taking part in the development of my hometown.”
      The reporter learned that Zhongrong Group has invested around 3 billion RMB on a massive project comprising of an international conference center, hotel and tourism exhibition. Ni proudly introduced the beautiful “butterfly” on the blueprint and said, “Hangzhou is the ideal city of international conference and exhibition center in my heart”. Although the project is confronted with many difficulties, he denoted that nothing can stop him, “Making contribution to my own home is worth all the hard works.”
      Ni really likes Chairman Mao's poetry and recited, “I was here with a throng of companions, vivid yet those uncommon months and years.” Ni said that “by the time, when my hair is grey, I will invite all my friends from all over the world to the West Lake, and enjoy the freshest Dragon Well tea, live in the most exquisite buildings, be charmed with the amazing scenery of the lake and hills, and recall our past glory and dreams. When I think back on my life, I know all my hard work has been paid off because I leave the most beautiful scenery for the next generation and contribute my value to my hometown.”
      Nobody knows how much wind and frost a leaf will have to experience before returning to the fertile soil. But when it is just a sprout, it already knows that one day it will become a lofty tree if it follows the direction of the sunlight. Ni said that he enjoys watching the process of his dream come true, and he believes that “butterfly” will finally show her beauty after experiencing the long winter.