Yiling Village, a village within the Yiling Cave Scenic Spot, enjoys a beautiful landscape. The establishment of the modern agricultural garden combines tourism with modern sightseeing agriculture so as to promote the development of travel service. As the site of the project is on the outskirts of Nanning City, the garden can attract a lot of tourists from the city, and the products of high quality from the garden can, in return, supply the urban markets.

2. Construction Scale and Contents of the Project:

The agricultural garden to be built with a total area of 3,000 mu, of which 2,000 mu is used for flowers and non-polluted vegetable planting; 200 mu for development of aquatic products and another 600 mu for recreational places.

The major contents of construction including building construction of 35,000 m2, fish ponds of 200 mu and crops plantation of 2,000 mu.

3. Construction Conditions (including raw and processed materials, communications and transportation, telecommunications, power supply, water supply, site, coordination etc.):

3.1 The agricultural garden is located within the Yiling Cave Scenic Spot, 17 km to Nanning and 12 km to Wuming County Seat, traversed by the Grade-B Nanning-Wuming Highway, which makes transportation convenient.

3.2 The power network from Nanning to Wuming goes by the garden, with a transformer substation in Yiling Village, so power supply is guaranteed; both surface and underground water resources are plentiful in Yiling and telecommunication network covers all the scenic spots

3.3 There are 600,000 visitors to Yiling Cave Scenic Spots every year, and more will come when the project completed.

3.4 The development of the Scenic Spot Area is included in the general development planning for Wuming County, and the model "better-off" village is under construction, so there is good potential of development.

4. Total Investment: USD 26,250,000.00, of which USD 8,600,000.00 is foreign capital to be used.

5. Mode of Cooperation: Equity joint venture or cooperation

6. Expected Returns:

---- Construction time: 2 years

---- Internal returns on investment: 28 %

---- Period for recovery of investment: 6 years

7. Construction Place: Yiling Village of Wuming County, Nanning

8. Progress of the Project Preparations: The written project proposals having been already finished..

9. The Local Government's Preferential Policy Applied to the Project:

9.1 For the enterprise with foreign investment, income tax will be paid at the ratio of 30%, and 20% of it will be refunded by the financial department. In the case of an investment over USD 10 million and the period of operation over 5 years, all the income tax paid in the first profit-making year will be refunded by the financial department and 50% will be refunded in the next two years.

9.2 This is one of the key projects of service industry in Nanning.

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