Chinese conglomerate Xianglu Dragon Group confirmed Thursday its programmed investments in a petrochemical, oil refinery, cement and industrial complex in Western Pangasinan and a major tourism and IT services center and a hotel in Metro Manila that the company submitted to the Philippine Economic Zone Authority.
XDG, in a statement, also dismissed as political harassment the charges raised against company chairman You-Hao Chen by the Taiwan Economic and Cultural Office.
XDG said no less than Peza director-general Charito Plaza and a seven-man team from Peza visited Xiamen City in Fujian, headquarters of XDG for an ocular inspection and confirmed XDG and Chen’s massive petrochemical complex and large hotel investments in Xiamen and in the nearby city of Fujian in Southern China.
XDG said the proposed Philippine projects are part of the group’s thrust to further its reach in industrial, petrochemical, and real estate projects outside China, where it is already a leading player in these fields. The group is also one of the large hotel and real estate developers in California, Taiwan, Thailand and Japan.
XDG said it has rapidly diversified its holdings abroad under the helm of founder You-Hao Chen, a Chinese citizen who had been subject of political persecution in Taiwan under the ruling DPP political party.
XDG said Chen is excited over the Philippine projects because of the strong ties between XDG’s headquarters in Xiamen, and the Philippines. “I have strong sentimental and emotional ties to the Philippines because 90 percent of Filipino-Chinese can trace their ancestry back to Xiamen. This will be our way to further solidify our ancestral bond,” said Chen.