At the first Chongqing’s Foreign Trade Work Meeting, Zongshen Group imparted such experience as that it cooperated with Canada Paim Technology Co., Ltd and subscribed shares of 35,000,000 RMB in 2004. Now the price of the stock has been increased by over 10 times and the cash realization is hundreds of million RMB in the capital market.

Zongshen Piam entrusted Chongqing Branch Company to set up wholly-owned subsidiary in Wuxi of Jiangsu Province with an investment of RMB 5,000,000, producing electric motorcycle and bicycle. The production and marketing amount is expected to 104,000 and sales revenue would reach 216 million RMB. Recently, Zongshen Piam has decided to increase investment on Chongqing Branch Company to expand its activity fields and produce the new two-wheeled motorcycle which is developed by Zongshen and owns the intellectual property rights.

Apart from that, Zongshen Piam established the wholly-owned subsidiary -Zongshen Piam (Canada) Chongqing Hydrogen Energy Co., Ltd in Chongqing High-tech Area with an investment of 1 million US dollars. All scientists and technicians were called to Chongqing together to engage the research, development, manufacturing and sales of fuel battery system and key materials. In two year, the cost of most fuel cell materials has been reduced by 30% and samples of fuel battery two-wheeled motorcycles and tricycles for the disabled have been put to the mark. Energy-saving and environment protective fuel battery forklift truck is to be launched next year.