The Guangxi Economic and Social Development Achievement Conference held in Macao this week saw the launch of the largest investment tourism project in China's Guilin.

The Lijiang International New City, a leisure and holiday oriented international conference center will be a joint venture by Macao and Guilin businesses. It involves an investment of US$70 million in the first schedule of construction and US$200 million in total.

The investor from Macao's side is the Chenghui Group, and Guilin will be represented by Guangxi State Farms Limited. The project will located at Xindao in Yangshuo.

Chen Hui, president of the Chenghui Group, said that Guilin was a beautiful place full of talented people, rich culture and tourist resources, but it lacked a concentrated holiday resort. The reason his company chose to cooperate in the project was to achieve a great result for both sides by taking advantage of the favorable geographic location of Guilin.