On the morning of March 16, Zhong Sheng, the Secretary of CPC Committee of Baoying County as well as the Director of the Standing Committee of the People's Congress of Baoying County, had a cordial meeting with Mr. Jack, the chairman of Jack Holding Co., Ltd. and his party. Both parties made friendly exchange with each other. The Deputy magistrate Gu Changrong and Chen Shi were present at the meeting together with some people in charge of the Office of Party Committee, Bureau of Foreign Trade and Economic Cooperation, and Bureau of Science and Technology.

Graduated from Harvard Business School, Mr. Jack is a banker in Wall Street as well as the founder and chairman of ASIMCO and JFP. Since he came to China in 1994, Jack has invested a total of US$500,000,000 in about 20 projects within the territory of China. Yizheng Shuang Huan Piston Ring Co., Ltd. (CYPR) was one of those projects with the total investment of US$ 26,000,000 from ASIMCO. Jack came to Baoying this time mainly to inspect the investment environment for the intelligent Power Network of BPLG, a leading manufacturer of American intelligent power network in search of new partner for cooperation.

Zhong Sheng gave a general survey of Baoying County and its industrial development. He said the county government was determined to develop the power transmission & transformation industry as a pillar industry and to attract the investment by focusing on Baosheng Group, a leading corporation in the industry. They will endeavor to have a market share in such high-end products as high-voltage and EHV cables so as to make Baoying a nationally recognized wire and cable city in three years. Zhong believed Jack would find opportunities for cooperation in Baoying with sound foundation for the development of intelligent power network. He expressed that their service team had accumulated rich experience through the long-term cooperation with well-known enterprises from Europe and America while the government, enterprises and people here honor credibility so they would do their best as they have promised. He expected Jack would advance the project cooperation and promised that the local government would appoint someone to follow up, making detailed plans and accelerating the launching of the project.

Mr. Jack showed his gratitude to the hospitality of the Baoying government and the Party committee. He was deeply impressed by the enterprises he had visited. He said he had developed a deep feeling toward Yangzhou during the 15-year stay in China. He wished to explore more space for further cooperation with Yangzhou and he had confidence in providing technology and capital for the further development of intelligent power network in Baoying.