By Sun Yuqing (chinadaily.com.cn)
Updated: 2007-04-24 08:09

A sculpture at the Chongqing Shixian Taibai Group. [chinadaily.com.cn/Sun Yuqing]

Wanzhou, Chongqing -- Chongqing Shixian Taibai Group, the only pure state-owned enterprise in Wanzhou and the largest production base for fermentative liquor in Chongqing, will try to reform its property rights by becoming a listed company in 2008 to expand the development and create more job opportunities for migrants in Three Gorges Project, said Zhu Zhiping, General Manger of Chongqing Shixian Taibai Group, April 23, 2007.

The group, located in Wanzhou District in the world-known Three Gorges Reservoir, is regarded as a magic for its special status as the only company purely owned by the government and great changes in the past six years amid the construction of Three Gorges Project.

Facing the Yangtze River and backing gorgeous Mt. Xiefeng with moisture air and pleasant environment, the group has an excellent nature production base for fermentative liquor.

"Shixian Taibai" in Chinese means the fairy poet Li Bai in Tang Dynasty. Since its establishment in 1917, the company almost went bankrupted in 2000 when it was purchased by a private investor. Then Wanzhou District Government formed a team to directly manage the company as this district began the relocation for the Three Gorges Project.

Occupying 300-odd mu land, the group owns 3000 employees now and becomes the flagship force to promote the agricultural development and improve the farmers' income in Wangzhou, which has a total number of migrants of 250,000. Shixian Taibai also became a backbone enterprise and a big one in tax and tax and interest in industrial economy of Wanzhou district.

Shixian Taibai Group entered top 50 industrial enterprises of Chongqing for two times continuously. In 2006, the group achieved the sales revenue of over 400 million RMB and benefited thousands of farmers with its chain industries. "We realize the development on the Spirit of Long March and the Speed of Shenzhen," said Zhu Zhiping.

Zhu also said that despite the rapid development and great potentials, the group also meets challenges and tries to reform the property rights and attract the capital from other channels.

"We plan to add the fixed investment of 800 million by 2010 and become one of China's top ten liquor suppliers. Then we will help about 10,000 migrants and the laid-off workers to become rich," said Zhu who now spends over 50 million yuan to promote the brand of Shixian Taibai.

A worker tends to a liquor production line at Chongqing Shixian Taibai Group. A worker tends to a liquor production line at Chongqing Shixian Taibai Group.