In June, the land-use rights of Niuguling of Bantian Village, Buji Town, Longgang District, was awarded.
In December, as approved by the SHEN FU BAN FU [1992] No. 1867” document of Shenzhen Municipal Government, Shenzhen International Enterprise Co., Ltd. was reorganized into a joint-stock limited company, and renamed “Shenzhen International Enterprise Co., Ltd.”
In December, the 44-storey ultrahigh residence project in Luohu District, “Grace Mansion” (the original name “Guoyu Mansion”), was started for construction.
In December, the Longgang Pingdi residence project “Rongfu Garden” was started for construction.
In December, the business-living buildings of Xiangmihu were started for construction.
The company earned up to 8,000,000 US dollars of foreign exchange through exports.
The company was appraised as the “Advanced Enterprise of the City”.
Rongfa Company was appraised as one of the “50 Largest Real Estate Development Enterprises of Shenzhen”.