To Investigate the Development of Cultural Property Project in the City of Yantai
HONG KONG, May 19 /PRNewswire-Asia/ -- Mr. Zhang Jiang Ting, Mayor of the People's Municipal Government of Yantai city and the relevant authorities paid a visit to the headquarters of C Y Foundation Group Limited ("C Y Foundation" or the "Group"; HKEx: 1182) in Hong Kong recently for a meaningful exchange on the subject of the development of cultural property projects with Mr. Theodore Cheng Chee Tock, Chairman of C Y Foundation.
Having reached a consensus after discussions, Mayor Mr. Zhang expressed a welcome to C Y Foundation on the development of cultural property projects in Yantai city, and has committed to provide favorable terms for the Group in respect of land and taxation arrangements, in order to encourage the Group to invest in Yantai city.
Mr. Theodore Cheng Chee Tock, Chairman of C Y Foundation, said, "By leveraging our experience in promoting cultural activities, and our strong people connections in China, coupled with great support from the Yantai municipal government, we will proactively carry out research and investigation on developing cultural projects in the city. This can create a win-win situation and fulfill complementary aims for both parties in order to foster cultural development in China."
About C Y Foundation Group Limited
C Y Foundation is an interactive digital entertainment company that provides quality entertainment across China. It is dedicated to organizing and running P2P tournaments for prizes throughout the mainland and a national electronic tournament platform. C Y Foundation also organizes Asia's premier annual e-sports tournament called the International Entertainment Festival (IEF). IEF has an online platform dedicated to daily tournaments at http://www.iefgames.com .
Website： http://www.cyfoundation.com
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Ms. Winnie Chan
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Ms. Cara Pang
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Ms. Abbey Zhao
Tel: +852-3150-6752
Email: abbey.zhao@pordafinance.com.hk
Fax: +852-3150-6728
