Respected leaders, friends from the fastener industry, ladies and gentlemen,
It's nice to meet you in this beautiful evening. I am Cai Kaixiang , General manager of CIFC. First I must thank Mr. Feng for giving me this opportunity to do the New Year work report. I send my best wishes to all the guests here on behalf of CIFC.
Our company focuses on operating professional markets. At present we have successfully developed six professional markets. Since the start of CIFC project, the governments of Zhejiang Province, Jiaxing City, Haiyan county have attach great importance. The leaders at all levels personally inspected the project for guidance the work. Haiyan County Government grants the preferential policies to the stationed enterprises, such as full rewarding of the locally retained portion from the paid-in enterprise income tax in the first three year.

Since April 7th, Haiyan County Government, together with the professional investment team of CIFC, hold investment promotion in China's major fasteners production area such as Wenzhou, Ningbo, Haiyan, Guangdong, Hebei. Up to now there have been more than 700 enterprises fasteners stationed in the market. Moreover, China national center for Quality Supervision and Test of standard parts and Zhejiang Haitaike Part R & D center have entered the market, which can not only provide priority quality inspection services for the enterprises and business operators, but also provide them with R & D services and technical support to enhance their competitiveness in the market.

In addition, we will spend tens of millions of RMB in advertising every year through newspapers, television, outdoor, Internet and magazines. At the same time, the on-line fasteners procurement center will be set up to broaden the sales.

In order to ensure the prosperity of the market, the global purchaser investment promotion has started. We will conduct promotions in numerous international exhibitions in 2008 to attract more international procurement organizations. In April and October 2007 we successfully held two exhibitions which attracted more than 400 exhibitors.

The first phase is already finished and will be opened in the autumn of 2008, while the second phase will be launched next spring.  Such a brilliant success is bound up with the support of everyone here. I, on behalf of CIFC, would like to express my sincere thanks to you for the past favour and solicit a continuance of your confidence and support. Thank you!