SHENYANG, China, May 25, 2006 (PRIMEZONE) -- Great China International Holdings, Inc. (OTCBB:GCIH) today announced the appointment of Shui San (Lawrence) Cheng as chief financial officer. Cheng succeeds Li Rong Wang, who will remain a member of the board of directors and chief financial officer of Great China International Holdings' subsidiary companies.
"We are very pleased to welcome Lawrence," said Paul Deng, chief executive officer. "His extensive finance and strategic planning skills are a valuable addition as we continue to develop real estate properties in Shenyang."
Cheng, 62, has more than 35 years of experience in finance administration, debt restructuring and investment management. Most recently, he served as a consultant at Century City Group, a Hong Kong based investment holding company with subsidiaries in property development, as well as owning and managing hotels. He previously served in various senior management roles, including finance director, general manager-investments and group treasurer, at the Century City Group. He also was chief executive officer of a privately owned family trust fund, and was controller of the Tasmanian State Public Service Retirement Trust.
Cheng is a certified public accountant and began his career at Price Waterhouse & Co. Hong Kong. He earned a bachelor's degree in economics at the University of Tasmania, Australia, and a master's degree in business administration at the Chinese University of Hong Kong.
About Great China International Holdings
Founded in 1989, Great China International Holdings' wholly owned subsidiary, Shenyang Maryland International Industry Co., Ltd., is one of the largest non-state-owned real estate developers in Northeast China. The company's core business is premium residential and commercial development and management. It currently owns and manages the President Building, which was completed in April 2002, with 25 tenants comprised of Fortune 500 companies, including General Electric (China) Co., Ltd., Johnson & Johnson, Kodak and Philip Morris. The company's prior developments included the Maryland Building, Roma Resort Garden, Qiyun New Village, Peacock Garden, University Campus of Shenyang Teacher's University, and Chenglong Garden, mostly located in Shenyang.