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Findings indicate the exhibition industry has experienced a contrasted situation since the global financial crisis happened in last year, which has made domestic exhibition companies including SNIEC customers feel busts of ‘chilly’ from the market as well.
To help SNIEC customers go through such difficult economic times, and enhance the industry confidence, SNIEC decides to release its original price policy with no price increase to 2010, keeping the same level as 2009. Before that, SNIEC had been implementing a price-growth policy since it started to operate in 2001.
At the same time, a significant capital increase was signed in Shanghai on 9 July 2009 between Sino-German shareholders, which means the full expansion of SNIEC was kicked off when the Registered Capital has now been increased by 25 million US dollars. This round of expansion includes the construction of halls E7, N1-N5, east entrance hall, parking space and other supporting facilities, expected to be fully completed by the end of 2010. By then, the center scale will reach total 17 exhibition halls, comprising 200,000 sqm and the outdoor area 130,000 sqm.(Currently, SNIEC offers eleven one-storey and column-free halls with a total of 126,500sqm of indoor and 100,000 sqm outdoor exhibition space.).
This total Investment for the expansion construction amounts to 320 million US dollars. Besides the increased capital, the rest construction expenditure will mostly come from SNIEC’s business revenue. . Although uncertain difficulties exist, SNIEC as a member of China exhibition industry, considers at the difficult economic times it has the responsibility to overcome its potential difficulties on its own to assist its customers to make a meaningful cost reductions, and give its contribution to a sustainable and healthy development of the industry.
