1. Introduction to the Project

1.1 Project background

1.1.1 Product introduction

With cultural positioning as the core, tourism attraction as the driving force, and commercial monetization as the ultimate goal, it is committed to building Chaoyang District, Changchun City into a center of culture and tourism. This strategy will not only bring revolutionary changes to the Chongqing Road area, but also play a crucial role in promoting urban economic development, cultural heritage, and tourism prosperity. The successful implementation of the project undoubtedly sets a benchmark for urban renewal and old renovation work in Changchun, and also lays a solid foundation for the future development of the city.

1.1.2 Market prospect

The cultural and business travel project refers to a project that organically combines culture, commerce, and tourism, aiming to attract tourists and promote local economic development through cultural experiences and commercial activities. These types of projects usually include cultural theme parks, folk experience halls, intangible cultural heritage handicraft experience workshops, etc., which provide unique tourism experiences by digging deeply into local historical and cultural resources.

(1) The current market situation of cultural and business travel projects

As an important pillar of the national economy, China’s tourism industry has continued to develop rapidly in recent years, demonstrating strong market vitality and enormous development potential. This industry covers multiple sub sectors such as scenic area operation, travel agency services, hotel accommodation, catering and entertainment, forming a complete industrial chain. From upstream tourism resource development and protection, to midstream tourism product design and marketing, to downstream tourism services and experiences, all links are closely connected to jointly promote the prosperity of the tourism market. With the acceleration of consumption upgrading and digital transformation, China's tourism industry is moving towards personalization, intelligence, and greenness, providing more diverse tourism experiences for global tourists. At the same time, the cooperation and integration between upstream and downstream enterprises in the industry chain are increasingly deepening, jointly promoting the sustainable and healthy development of the tourism industry.

In terms of the market competition pattern, there are many participants in the cultural and tourism integration market, including traditional tourism enterprises, Internet enterprises, cultural institutions, etc. These enterprises continuously innovate and optimize their products, improve service quality, and compete for market share. State owned large-scale cultural and tourism groups dominate the market with their capital and resource advantages, while private enterprises and emerging technology companies have emerged through technological innovation and cross-border cooperation. In addition, as technology empowers the deep integration of culture and tourism, the application of technologies such as big data, cloud computing, VR/AR will further drive changes in the market competition landscape.

Cross-border integration of culture and tourism will place greater emphasis on cross-border integration with other industries. Cross-border integration models such as “performance+tourism” and “gaming+cultural tourism” will continue to emerge, creating new scenarios, new consumption, and new momentum for cultural tourism real estate. This cross-border integration will promote the diversified development of the cultural and tourism industry, enhance its competitiveness and added values.

The integration of cultural heritage and innovation in tourism will place greater emphasis on inheriting and promoting excellent traditional culture in tourism development. By exploring and utilizing local cultural resources, creating unique and charming cultural and tourism projects has become an important means of attracting tourists. At the same time, the cultural and tourism industry will also focus on innovation, injecting new vitality into traditional culture through the integration of technological means and cultural creativity.

With the mature application of technologies such as big data and cloud computing, the cultural and tourism industry will accelerate its digital transformation and promote the development of smart tourism. By providing intelligent guidance, precise marketing, intelligent transportation and other services, we aim to enhance tourists’ travel experience and service level, and provide strong support for the sustainable development of the cultural and tourism industry.

(2) Market prospect for cultural and business travel projects

In recent years, the integrated cultural and tourism industry has shown strong growth momentum, and the market size continues to expand. In 2024, with the continuous increase of cultural and tourism projects and the increase of amount of Investment, the integrated cultural and tourism market will further prosper. Relying on rich cultural and tourism resources, various regions have promoted the deep integration of culture and tourism, forming a number of competitive cultural and tourism brands in the market.

With the diversification and personalization of consumer demands, the cultural tourism integration industry is facing a shift in consumer trends. From traditional sightseeing tours to experiential and in-depth tours, consumers are paying more attention to cultural experiences and emotional resonance during the tourism process. This trend has prompted the cultural and tourism industry to continuously innovate products and services to meet the diverse needs of tourists.

Technological innovation has become an important driving force for the development of the integrated cultural and tourism industry. The application of some technologies such as VR, AR and artificial intelligence, etc. has brought a more comprehensive and three-dimensional cultural and tourism experience to the integrated tourism industry. These technologies not only enhance tourists’ engagement and experience, but also bring more business opportunities and innovation space for cultural and tourism enterprises.

Under the guidance of national and local policies, the cultural tourism integration industry will pay more attention to high-quality development. By strengthening tourism promotion and enriching the supply of high-quality tourism, measures can be taken to enhance the quality and cultural connotation of cultural and tourism products, in order to meet the growing demand for high-quality tourism from tourists.

The demand for the integration of culture and tourism in the market continues to grow, thanks to consumers’ pursuit of diversified tourism experiences and cultural connotations. With the upgrading of consumption and the increase of people's leisure time, integrated cultural and tourism products have become the new favorite of the tourism market, such as cultural themed tourism, study tours, rural tourism and other sub sectors gradually rising. The integration of culture and tourism not only enhances the added value of tourism products, but also promotes the coordinated development of cultural and tourism industries.

In terms of the market size, the cultural tourism integration industry has shown strong growth momentum in recent years. The data shows that the number of cultural and tourism integration projects is constantly increasing, and the total investment continues to grow, demonstrating the importance and recognition of investors in the field of cultural and tourism integration. With the shift of cultural and tourism consumption from mass to personalized, the market size is expected to further expand.

The cultural and business travel market will still be a year of consumption promotion in 2025. Despite the overall economic situation being bleak, policy stimulus and fiscal support will continue to drive the development of the consumer market. The country will continue to promote commercial consumption and cultural tourism consumption, and strive to create an atmosphere of domestic consumption through increasing the number of statutory holidays and continuous consumption subsidy policies. Meanwhile, with the vigorous promotion of smart city construction nationwide, nearly 30 comprehensive smart tourism platforms have been built. Multiple departments have jointly issued relevant policy documents such as the Action Plan for Innovative Development of Smart Tourism, providing strong policy guarantees for the development of smart tourism. In addition, the Ministry of Industry and Information Technology and other departments have released 30 pilot projects for the “5G+Smart Tourism” application and 42 pilot projects for cultivating new immersive experience spaces for smart tourism, further promoting the innovative development of smart tourism. The prospects for project construction are optimistic.

1.1.3 Advantageous conditions of project construction

(1) Policy advantages

In recent years, the country has introduced a series of policies to encourage the integrated development of culture and tourism, such as the Guiding Opinions on Cultivating and Constructing International Consumer Center Cities and the Three-Year Action Plan for County Commerce (2023-2025), which provide strong policy guarantees for the development of the integrated culture and tourism industry.

Jilin Province has released a cultural and tourism preferential policy called “Attracting Tourists to Jilin”, providing land supply guarantee for tourism investment projects that meet regulations, prioritizing land use plan index, and strengthening bank enterprise coordination to guide policy and development banks to increase credit support for key tourism projects. It implements  through-train services of projects, establishes a through-train service mechanism for major tourism projects, builds a provincial government leadership guarantee work team, and provides “on-site, delivery services, policy lectures, and problem-solving” services for projects.

(2) Advantages of the project partner

On the basis of inheriting core businesses such as equity management, asset management, financial services, and fund investment from China Chengtong Group, Ping An Electric Energy Group focuses on industry directions strongly supported by the state, such as new infrastructure, new energy, culture, big health, digital information technology, and integrated circuits. Combined with strong horizontal cooperation capabilities in military, government, national, and civilian management systems, it is committed to deepening the layout of central local cooperation for state-owned enterprises, improving the management system of state-owned assets, optimizing resource allocation, and other services.

Jilin Guomao Industrial Group is a diversified large-scale commercial enterprise group that integrates star-rated hotels, commercial retail, commodity wholesale, e-commerce, catering, new media operations, biopharmaceuticals, and e-commerce. As close strategic partners, both parties have carried out in-depth layout and cooperation in various fields of their respective expertise, such as commerce, hotels, industry, elderly care, urban transformation, cultural tourism, biopharmaceuticals, etc. Initiated by Guomao Group, a series of innovative and cooperative projects are carried out around Chaoyang District.

This cooperation project brings together the comprehensive advantages of both parties, marking a strong alliance between the People’s Government of Chaoyang District and Ping An Electric Energy Company, jointly promoting comprehensive breakthroughs in urban renewal, real estate, healthcare, elderly care, new energy, education and other fields in Chaoyang District, and building a high-quality and sustainable new model of urban development.

(3) Location advantages

Chaoyang District is located in the central southern part of Changchun City, in the core area of the city, adjacent to Nanguan District, with obvious location advantages. The internal transportation is well connected, with the Changchun-Yitong Highway running through the north and south, and the Changchun-Fusong Expressway passing through the city, providing significant transportation advantages. The transportation from Chaoyang District to the airport and the train station is very convenient. It takes about 40 minutes to get to the airport and about 20 minutes to get to the train station. Chaoyang District, Changchun has become an important area of the city due to its advantageous geographical location, developed public transportation, and strong economic development.

Chaoyang District, Changchun City is the economic and cultural core area of the city, covering an area of 237 square kilometers. The commercial and economic development within the district is prosperous, accounting for over 10% of the city’s total economic output. It is a modern urban economic core area with modern service industry as the main body, strategic emerging industries as the guide, advanced manufacturing industry as the support, and modern agriculture as the characteristic.

(4) Talent advantages

Changchun is a well-known high intelligence intensive area in China, with more than ten key universities such as Jilin University, Northeast Normal University, and Changchun Institute of Optics and Fine Mechanics located in Changchun. It also has national and provincial (ministerial) scientific research institutions such as the Chinese Academy of Sciences Changchun Branch, Changchun Institute of Optics and Fine Mechanics, Changchun Institute of Applied Chemistry, as well as scientific research institutions such as design institutes, computing and testing centers, and several key open laboratories in Changchun. Changchun City has abundant human resources and price advantages. Higher education institutions and research institutions such as Jilin University, Northeast Normal University, Changchun University of Traditional Chinese Medicine, Changchun Institute of Optics and Fine Mechanics, and Changchun Institute of Applied Chemistry can provide senior management and technical personnel for the implementation of the project.

Chaoyang District has abundant resources for higher education and scientific research. Chaoyang District is the education and research center of Changchun City, with numerous higher education institutions and research institutions. 80% of independent research institutes and technology development institutions in Changchun, as well as 32 full-time regular colleges and 15 universities, are located in Chaoyang District, providing strong talent and knowledge resources support for regional development.

1.2 Contents and scale of project construction

Covering an area of approximately 13500 square meters, the project aims to create an immersive experience driven by technology, culture, commerce, and tourism.

1. Guomao twin-tower leisure and cultural tourism complex

(1) Twin-tower hotel: Positioned as a high-end business and light luxury hotel, it integrates modern design and regional culture with a total of 500 rooms, including conference and wedding functions, to meet the needs of customers at different levels.

(2) Leisure and tourism complex: Connecting the original location of the Guomao Center with adjacent land to form a leisure and tourism complex with a business area of 80000 square meters. The building introduces advanced technologies such as the combination of peace and urgency, low carbon environmental protection, smart consumption platform, smart parking system, smart fire protection system, new energy and energy conservation, and is positioned as a cultural, business and travel integration model with cultural and tourism drainage, catering, entertainment, and shopping, to create a 365 day * 24 hour non-stop leisure and entertainment complex more suitable for the unique climate in Northeast China.

2. Historical theater renovation

Preserving the historical style of Yongle Theater, redesigning the layout of over 1000 seats in the venue, introducing modern theater facilities, introducing the first immersive parent-child drama in the three northeastern provinces, immersive close-up magic shows, etc., attracting tourists from all over the country, and cooperating with small theater clusters to create a new cultural landmark.

3. Renovation of the original municipal government building

Based on the restoration of the old, transformed into a historical garden style hotel, incorporating museum elements, it is a modern interpretation of cultural heritage.

4. Restoration of cultural relics during the period of Manchu Puppet Regime, reconstruction of old historical buildings, film and television blocks

Promote positive energy, facilitate the inheritance of historical and cultural heritage and the development of the film and television industry, and build a photography base related to cultural tourism or film.

1.3. Total investment of the project and capital raising

The total investment of the project is 200 million yuan, including the construction investment of 150 million yuan.

1.4 Financial analysis and social evaluation

1.4.1 Main financial indexes

After the project reaches the production capacity, its annual sales revenue will be 125 million yuan, its profit will be 37 million yuan, its investment payback period will be 7 years (after the tax, including the construction period of 1 year) and its return on investment will be 18.18%.

Note: “10 thousand yuan” in the table is in RMB.

1.4.2 Social evaluation

Enhancing urban image: By developing cultural tourism and showcasing the unique cultural and historical heritage of the local area, the city’s visibility and image can be enhanced. For example, a city with a long history and culture can attract more tourists to come and experience it by developing cultural tourism, thereby enhancing the overall image and attractiveness of the city.

Inheriting and promoting cultural heritage: Cultural tourism projects help protect and inherit traditional culture by showcasing and disseminating local cultural heritage. Tourists’ visits and understanding can better protect cultural heritage, while also enhancing their awareness and understanding of cultural heritage, which is of great significance for the development and inheritance of local culture.

Promoting cultural exchange and integration: Cultural tourism is a bridge for communication between different cultures. Tourists can experience local culture firsthand through tourism, enhance their understanding and respect for other cultures, and promote cultural exchange and integration. This cross-cultural communication is conducive to breaking prejudices and misunderstandings, promoting world peace and development.

Improving the cultural literacy of local residents: The development of cultural tourism projects can enhance the cultural literacy of local residents. For example, establishing a cultural festival requires certain cultural literacy requirements, which can help increase the enthusiasm of local residents for local culture and tourism.

1.5 Cooperative way

Sole proprietorship, joint venture or cooperation

1.6 What to be invested by the foreign party

Funds, and other methods can be discussed in person.

1.7 Construction site of the project

Chaoyang District, Changchun City

1.8 Progress of the project

The project proposal has been prepared.

2. Introduction to the Partner

2.1 Basic information

Name: Ping An Electric Energy (Jilin) Co., Ltd.

Address: Unit 510, China-Korea Building, 1577 Jinhui Road, China-Korea (Changchun) International Cooperation Demonstration Zone, Changchun City

2.2 Overview

On the basis of inheriting core businesses such as equity management, asset management, financial services, and fund investment from China Chengtong Group, Ping An Electric Energy Group focuses on industry directions strongly supported by the state, such as new infrastructure, new energy, culture, big health, digital information technology, and integrated circuits. Combined with strong horizontal cooperation capabilities in military, government, national, and civilian management systems, it is committed to deepening the layout of central local cooperation for state-owned enterprises, improving the management system of state-owned assets, optimizing resource allocation, and other services.

2.3 Contact method

Contact person: Li Xu

Tel: +86-431—85109113

Fax: +86-431—85109113

E-mail: 841726833@qq.com

Contact method of the city (prefecture) where the project is located:

Contact unit: Changchun Cooperation and Exchange Office

Contact person: Zhang Junjie

Tel: +86-15704317930

Fax: +86-431-82700590

E-mail: xmc82763933@163.com