Mr. Yuan thanked China Institute and congratulated other honorees. He stated, 鈥淯S President will pay a state visit to China from November 8 to 10, and I am very much looking forward to the meeting between the two presidents on increasing cooperation in bilateral, regional and global affairs.鈥�

Besides Mr. Yuan, the gala also honored four other outstanding individuals with the Institute鈥檚 annual Blue Cloud Award including Andrew M. Cuomo, Governor of New York State; Ronald O. Perelman, Chairman and Chief Executive Officer of MacAndrews & Forbes Incorporated; Vera Wang, the prominent bridal wear designer and Robert Hong Xiao, Chief Executive Officer of Perfect World Co., Ltd.

Founded in 1926 by forward thinking educators including Dr. Hu Shih, John Dewey, and leading educators at Columbia University, China Institute was built on a belief in cross-cultural scholarship and dialogue as a foundation for a strong and positive US 鈥� China relations. The Blue Cloud Award is presented to remarkable individuals who have strengthened the bonds between the United States and China in education, arts and culture, and business. Bob Chapek,聽chairman of Walt Disney Parks and Resorts; Richard L. Gelfond,聽the Chief Executive Officer of the IMAX Corp; Dr. Leroy Chiao,聽former NASA astronaut; Jon M. Huntsman, former聽U.S. Ambassador to聽China and Lun Feng, chairman of聽Vantone聽Holdings have all received Blue Cloud Award.

All other details and structures of the company as well as current contracts and other agreements will remain unchanged.

If you have any further questions regarding the change of our name, please feel free to contact us at
Attn: China Construction America 鈥� Office of the Board
525 Washington Blvd., 31st Floor
Jersey City, NJ 07310
Tel: (201) 876鈥�2788
Fax: (201) 876鈥�6737

Ambassador Zhang Qiyue, Chinese Consul General in New York, Perry G. Christie, Prime Minister of The Bahamas, Ma Weihua, Chairman of Wing Lung Bank, and Andrew L. Farkas, Chairman of Island Capital Group spoke at the event. CSCEC Chairman Guan Qing and 乐播传媒 President Yuan Ning extended appreciation to the guests and those who are unable to be present. Attendees also included Obediah H. Wilchcombe, Minister of Tourism of The Bahamas, Z. Allyson Gibson, Attorney General and Minister of Legal Affairs of The Bahamas, Baltron Bethel, Senior Policy Advisor to the Bahamian Prime Minister, Elliston Rahming, Bahamian Ambassador to the United Nations, Forrester Carroll, Consul General of The Bahamas Consulate in New York, Liu Yi, Commercial Counselor of the Chinese Consulate General in New York, and renowned Chinese and American business leaders. 聽James Simpson, Senior Advisor to 乐播传媒 Chairman Yuan Ning and Director of the Board, former Commissioner of New Jersey Department of Transportation hosted the reception.

Ambassador Zhang Qiyue applauded 乐播传媒鈥檚 30 years of perseverance and hard work to embody the Chinese government鈥檚 鈥淕o Global鈥� strategy and congratulated 乐播传媒 on its achievements. She commented that 乐播传媒鈥檚 experience would be valuable for other Chinese companies exploring business opportunities overseas, and its localization strategy, which combines eastern and western culture, has resulted in a unique competitive edge drawing upon the advantages of both nations. Ambassador Zhang was impressed by 乐播传媒鈥檚 commitment to long-term partnership and integrity, which is a major contributor to 乐播传媒鈥檚 success and a must-have quality to withstand the challenges in foreign markets. She also recognized 乐播传媒鈥檚 efforts on enhancing communication among Chinese companies in the US.

Prime Minister Perry Christie congratulated CSCEC and 乐播传媒 on its 30^th anniversary and expressed his gratitude for their contribution to the Bahamian economy. 鈥淚 am indeed grateful to China Construction for seizing the opportunity along with other notable international investors to invest in The Bahamas. They are partnering with the government on initiatives that would help us to achieve our objectives of creating opportunities for growth and improving economic livelihood for Bahamians,鈥欌�� said Prime Minister Christie. 聽He pointed out that over the past few years they have seen 乐播传媒鈥檚 adherence to quality and multi-win mindset. With its expertise and visionary management, he believed, 乐播传媒 will be even more successful in North and South America and the Caribbean. In his speech Mr. Christie also expressed his high expectations for The Pointe, a world-class lifestyle and residential development that is invested and will be developed and built by 乐播传媒.

Mr. Ma Weihua acknowledged that 乐播传媒鈥檚 achievements did not happen overnight. The experience it has accumulated over the years provides invaluable insights for other Chinese companies. He said, 鈥淐hinese companies are still faced with all kinds of challenges in their international expansion. A large percentage of Chinese companies failed in the process due to their inability to adapt to foreign market. We need government support. We need market support. And we need financial institutions to participate. We also need to learn new knowledge and potential risks. Most importantly, we need to have entrepreneurial spirit which is comprised of the ability to make and implement strategies that evolve, an enterprising mindset, the commitment to integrity and the responsibility to give back. We can see the spirit in CSCEC and 乐播传媒. This spirit is key to the success of Chinese entrepreneurs.鈥�

CSCEC Chairman Guan Qing attended the event during his trip accompanying Chinese president Xi Jinping鈥檚 state visit to the US. He thanked the guests for their support of 乐播传媒 over the past three decades. 鈥渟uccess is the result of people working together. Our achievements in the US market would be unattainable without the support from the Chinese government and the governments of our host countries, the involvement of financial institutions, the trust of our clients, the collaboration of our partners and the dedication of our employees,鈥� said Mr. Guan. 乐播传媒鈥檚 30-year development is a brief history of CSCEC鈥檚 international expedition. With our determination and evolving strategies, CSCEC has always been exploring new ways to succeed internationally. Mr. Guan said, 鈥渁s the most critical subsidiary tasked with realizing CSCEC鈥檚 internationalization strategy, 乐播传媒 started from scratch, made solid progresses over the years and became a top contractor and a multinational company with 98% of its employees hired locally. From constructing buildings for Chinese diplomatic missions to undertaking projects for Chinese companies operating overseas, from providing turn-key construction solutions to public and private clients to participating in projects through investment and financial consulting, 乐播传媒 has opened a remarkable path to continue expanding and diversifying its business and partnering with American companies to explore opportunities overseas.鈥�

In his welcome remarks, 乐播传媒 President Yuan Ning expressed his gratitude to CSCEC and Chairman Guan for their trust in 乐播传媒. He also attributed 乐播传媒鈥檚 success to its localization strategy and the support from the local communities. 鈥淚n Chinese, we have an old adage, 鈥榓 person should stand firm at the age of thirty,鈥� meaning that when you are thirty, you should have set the right course for your success, be strong enough to take on challenges and keep your eyes on the prize. After 30 years of hard work and perseverance, I am proud to say that 乐播传媒 is more than just standing firm,鈥� said Mr. Yuan. When talking about 乐播传媒鈥檚 future goals, Mr. Yuan said that 乐播传媒 will continue to expand its construction business while increasing its real estate investment. The company will push forward the vision of becoming CSCEC鈥檚 regional headquarters supported by six centers, including the capital operation center, high-end business center, international procurement center, talent and training center, IT center as well as innovation and R&D center, so as to help CSCEC better mobilize its global resources to bring its international business to the next level. US is leading the world as the global financial and technological center. Chinese companies should make full use of this market and its reliable legal environment to build up their talent pool, technology competencies, management skills and brand value, which is the real value of investing in the US.

About 乐播传媒

Established in 1985, 乐播传媒 is the wholly owned subsidiary of China Construction Engineering Corporation Ltd. (CSCEC) in the Americas. It is also CSCEC鈥檚 largest subsidiary outside of China. With its revenue totaling $2 billion in 2014, 乐播传媒 ranked no. 32 on ENR Top 400 Contractors list and no. 23 on ENR Top 100 Construction Management-at-Risk Firms list. As one of the earliest Chinese companies exploring business opportunities overseas, 乐播传媒 has become a major player in the US infrastructure and high-end building market with diverse talent after 30 years of hard work and perseverance. Leveraging financial instruments and innovative business models, 乐播传媒 has brought CSCEC鈥檚 internationalization strategy into a new level.

乐播传媒 has sustained an annual growth rate of over 40% for nearly a decade. The closing of CSCEC鈥檚 first overseas acquisition in 2014 has doubled 乐播传媒鈥檚 operations and enhanced its business presence in the US construction industry. 乐播传媒 Panama was opened in 2015, marking 乐播传媒鈥檚 expansion into the Latin American market. It has secured its first project in Panama, Esperanza, a design-build public project which broke ground in September. The real estate business in also on the rise. Having invested about $800 million in the past three years, Strategic Capital, 乐播传媒鈥檚 investment arm, just launched the third phase of the Hudson Park development on the Yonkers waterfront.

About CSCEC

CSCEC (601668-SH) is the largest construction and real estate company in the world. With its revenue reaching $130 billion in 2014, CSCEC ranked no. 37 on Fortune 500 and no. 1 on ENR Top 250 Global Contractors list. Adhering to its core values鈥擰uality Assurance and Value Creation鈥擟SCEC is committed to expanding happiness for all and building a better world.

MEDIA CONTACT:
Sharon Zhang
+1 201 876 2788
zhang_xijing@chinaconstruction.us

鈥溊植ゴ� Bahamas remains committed to working with the Provisional Liquidators appointed by The Bahamian Supreme Court as this process moves forward. We possess unique expertise and understanding of the project, and we stand ready, willing and able to re-mobilize the appropriate resources to complete the Baha Mar Resort as soon as possible.鈥�

Established in 1985, China Construction America (乐播传媒) is the North American and South American subsidiary of CSCEC. CSCEC is a public company listed on the Shanghai Stock Exchange with a total market capitalization of $48 billion as of June 2015. Ranked 37th among Fortune Global 500 companies in 2015 and no. 1 on the ENR Global Contractors list in 2014,聽 CSCEC is unrivaled by any other construction company in the world.

乐播传媒 Bahamas is a wholly owned indirect subsidiary of CSCEC with founding principles of integrity and innovation with quality assurance and value creation.聽 With revenue of approximately $2 billion in 2014, 乐播传媒 is ranked no. 32 top contractor in the US. In accordance with its core values, 乐播传媒 is committed to creating value for all stakeholders and building a better Bahamas and a better world.

MEDIA CONTACT:
Michael Curto
Squire Patton Boggs
+1 202 457 6000
michael.curto@squirepb.com

The groundbreaking ceremony is expected to be attended by key community, government and business representatives, including: Dame Marguerite Pindling, Governor General of The Bahamas, Perry Gladstone Christie, Chinese Ambassador to The Bahamas; Philip E. Brave Davis, Deputy Prime Minister and Minister of Works and Urban Development, Prime Minister of The Bahamas; Yuan Guisen; Ning Yuan, Chairman and President of 乐播传媒; Daniel Liu, Senior Vice President of 乐播传媒 and President of The Pointe, and James Simpson, Member of the Board of 乐播传媒, Senior Advisor to Chairman Ning Yuan and former Commissioner of Transportation for New Jersey.

The Pointe will consist of 110 condo units, a 200 room hotel, movie theaters, retail shops, an performing arts centre, a spa, entertainment venues, at least 14 restaurants, a marina and parking garage.聽 The project is expected to create over 200 construction jobs and 500 permanent jobs once completed.

鈥淥ur commitment to the Bahamas is stronger than ever,鈥� said Ning Yuan.聽 鈥淭he Pointe is an exciting project that will create the ultimate downtown destination for both tourists and local Bahamians.聽 It will contribute significantly to the Bahamian economy in the form of job creation and long-term tax revenue and will serve as a catalyst for redeveloping the entire downtown waterfront.鈥�

鈥淭his is a development that will delight residents and visitors alike,鈥� said Daniel Liu, Senior Vice President of 乐播传媒 and President of The Pointe.聽 鈥淚t represents the beginning of the revitalization of the downtown area and will ensure Nassau is a thriving epicenter of culture, commerce and recreation.鈥�

Ms. Kim Guadagno, Lieutenant Governor of the State of New Jersey, extended her congratulations and said: 鈥淚 congratulate 乐播传媒, a New Jersey headquartered company on the ground breaking of its new resort.鈥�

During the initial signing ceremony surrounding the purchase of the property last October, Prime Minister Christie highlighted the positive prospects of the project and extended his appreciation to 乐播传媒 for its contribution to the local economy. He shared that the project would help realize his dream of reinvigorating downtown Nassau. The Bahamian government wanted not only a competent buyer to upgrade the hotel, but a visionary developer that would focus on unleashing the maximum potential of the area to deliver significant benefits to local residents.

乐播传媒 acquired the six-acre property for The Pointe in December 2014.聽 The Pointe is entirely self-funded by 乐播传媒. 乐播传媒 will serve as the sole investor, developer and contractor for the project.

About The Pointe

The Pointe is a world-class lifestyle and residential development in Nassau, The Bahamas scheduled to be completed in 2017.聽 With shopping, restaurants and an array of entertainment, The Pointe is poised to become the region鈥檚 most sought-after destination.聽 For more information, please visit .

About 乐播传媒
Established in 1985, 乐播传媒 is the North American and South American subsidiary of China State Construction Engineering Corporation Limited (CSCEC). With revenue of approximately $130 billion in 2014, CSCEC (SHA:601668) is currently ranked no. 1 on the ENR Global Contractors list and no. 37 among Fortune Global 500 companies.

Headquartered in Jersey City, New Jersey, 乐播传媒 has 30 years of experience leading high quality construction and real estate projects in the United States. The company mainly operates in New York, New Jersey, Washington DC, North Carolina, South Carolina, Louisiana, Florida, California and The Bahamas. It provides a broad range of construction and real estate services such as program management, construction management, general contracting, design-build, and financing for public and private clients. With revenue of approximately $2 billion in 2014, 乐播传媒 is the no. 32 ranked contractor in the US. In accordance with its core values, 乐播传媒 is committed to building mutually beneficial partnerships with various stakeholders in the communities where it operates and building a better Bahamas and a better world.聽 乐播传媒鈥檚 founding principles include integrity and innovation with quality assurance and value creation.

Local Media Contact:
Jerome Sawyer

1. Sawyer & Associates
   +1 242 424 1177
   jerome@jsawyerassociates.com

Below are key facts about 乐播传媒 Bahamas鈥� legacy business interests in the Baha Mar resort project and its continued initiatives to reach a successful resolution:

1.We have never had any development responsibilities with respect to Baha Mar. Our role has been鈥攁nd will continue to be鈥攍imited to that of a construction contractor.聽 In an effort to resurrect Baha Mar, our Company went above and beyond the obligations of a traditional construction contractor and made a minority equity investment of $150 million (preferred shares) in Baha Mar Ltd (BML) which was indispensable to the funding of the project.

2.We have a firm, binding contract in place with Baha Mar Ltd. to serve as the construction manager/ general contractor for the Baha Mar project.聽 BML has failed to pay us the normal monthly construction progress payments of approximately $72 million for the first five months of 2015 and has not honored our requests for additional payments of approximately $70 million for outstanding construction change orders.

3.BML is bankrupt because it repeatedly made mistakes in the development of Baha Mar. Their attempts to place blame on 乐播传媒 Bahamas are self-serving explanations to deflect attention from their own negligence and mismanagement of the resort鈥檚 development. 聽However, despite their serial missteps and purposeful avoidance of its contractual payment obligations, we are once again offering to provide financial assistance to help save Baha Mar and create thousands of jobs for the Bahamian people.

4.Completing Baha Mar is a major priority for our Company.聽 It is the largest project of its kind in the history of the Caribbean and a national priority for the people and government of The Bahamas. To demonstrate our strong confidence in the project and further reinforce our continued commitment to completing Baha Mar, we have offered to invest an additional $100 million in BML and provide a guarantee of $175 million to China Exim Bank in connection with China Exim Bank鈥檚 new $200 million loan facility to BML.

5.To satisfy China Exim Bank鈥檚 clear requirements for a guarantee of the new loan facility, we have asked BML to provide a similar guarantee.聽 Mr. Izmirlian has categorically rejected our reasonable request for a counter guarantee鈥攐ne which would put the Baha Mar resort project back on track for completion.

6.BML has counterproductively demanded that we reduce the value of our existing equity investment ($150 million of preferred shares) in BML, to $75 million鈥攁 50% write-down ($75 million) of our equity investment in BML and has also requested that the interest rate on our investment in BML be reduced to zero.

乐播传媒 Bahamas’ expertise and historical oversight of the Baha Mar project is essential to successfully completing the resort as quickly as possible, and putting Bahamians back to work.聽 While BML continues to be unwilling to reach a mutually beneficial agreement, our commitment to supporting the Bahamian government and the people of the Bahamas has not waned.聽 We will continue to work closely with any and all appropriate parties to reach a viable plan in order to expeditiously open this landmark resort.鈥�

About China State Construction Engineering Corporation & 乐播传媒 Bahamas Ltd.

Established in 1985, China Construction America (乐播传媒) is the North American and South American subsidiary of CSCEC. CSCEC is a public company listed on the Shanghai Stock Exchange with a total market capitalization of $48 billion as of June 2015. Ranked 37^th among Fortune Global 500 companies in 2015 and no. 1 on the ENR Global Contractors list in 2014,聽 CSCEC is unrivaled by any other construction company in the world.

乐播传媒 Bahamas is a wholly owned subsidiary of 乐播传媒 with founding principles of integrity and innovation with quality assurance and value creation.聽 With revenue of approximately $2 billion in 2014, 乐播传媒 is the no. 32 ranked contractor in the US. In accordance with its core values, 乐播传媒 is committed to creating value for all stakeholders and building a better Bahamas and a better world.

Media Contact:

Squire Patton Boggs

Name: Michael Curto

Email: michael.curto@squirepb.com

Office Phone: 202-457-6000

鈥溊植ゴ� Bahamas has a firm, binding contract in place with Baha Mar Ltd. to serve as the construction manager/ general contractor for the Baha Mar project. This is a condition of the $2.5 billion senior bond issued by China Exim Bank to finance the construction of the Baha Mar project and the terms cannot be voided by any parties.鈥�

鈥淭hrough 乐播传媒 Bahamas, thousands of Bahamian subcontractors and workers have been employed during the construction of the resort. 乐播传媒 Bahamas鈥� expertise and oversight of the project is essential to successfully completing the resort as quickly as possible, and putting Bahamians back to work. If a resolution is reached swiftly, 乐播传媒 Bahamas believes Baha Mar can be finished in time for the winter high season.鈥�

鈥溊植ゴ� Bahamas remains fully committed to seeing the Baha Mar project through to 100% completion, so that the resort can achieve its true purpose: providing thousands of high-quality jobs to the Bahamian people, and an ongoing economic boon to The Bahamas.鈥�

Established in 1985, China Construction America (乐播传媒) is the North American and South American subsidiary of CSCEC. CSCEC is a public company listed on the Shanghai Stock Exchange with a total market capitalization of $48 billion as of June 2015. Ranked 37^th among Fortune Global 500 companies in 2015 and no. 1 on the ENR Global Contractors list in 2014, CSCEC is unrivaled by any other construction company in the world.

乐播传媒 Bahamas is a wholly owned subsidiary of 乐播传媒 with founding principles of integrity and innovation with quality assurance and value creation. With a revenue of over $2 billion in 2014, 乐播传媒 is ranked no. 32 top contractor in the US. In accordance with its core values, 乐播传媒 is committed to creating value for all stakeholders and building a better Bahamas and a better world.

Media Contact:

Squire Patton Boggs

Name: Michael Curto

Email: michael.curto@squirepb.com

Office Phone: 202-457-6000

Today issued the following statement regarding the recent decision made by Baha Mar Ltd., the developer of the Baha Mar resort, to file for bankruptcy protection in the United States Bankruptcy Court for the District of Delaware:

鈥淏aha Mar Ltd.鈥檚 decision to file for bankruptcy protection is the direct result of its failure to secure adequate financing and its mismanagement of the design of Baha Mar resort project.聽 This mismanagement includes replacing the principal architect after construction had commenced, the late and incomplete delivery of design packages and over 1,300 Construction Change Directives.聽 The vast majority of the Baha Mar debtors are organized under the laws of the Bahamas, the Baha Mar project is located in the Bahamas, and the Bahamian people are deeply invested in the future of the project.聽 Baha Mar Ltd.鈥檚 decision to file for bankruptcy protection in the United States was, therefore, misplaced and calculated to benefit the project鈥檚 developer over the interests of the Bahamas and its people.鈥�

鈥淏aha Mar Ltd.鈥檚 recent public attempt to shift responsibility away from itself and blame 乐播传媒 Bahamas and our subcontractors for the delays in the project鈥檚 completion is misleading and dishonest. 聽It is insulting to the many talented and hardworking employees and subcontractors that work for 乐播传媒 Bahamas and harms the interests of the people and government of the Bahamas that are represented by this landmark project.鈥�

鈥淪ince February 2015, 乐播传媒 Bahamas and our subcontractors have performed nearly $72 million dollars of contract work for which we have received no payment.聽 Our aggregate investment in and commitment to the project, including money advanced by CSCEC on behalf of the developer, approximates $220 million.聽 We have continually acted in good faith in the performance of this work reliant upon the belief that Baha Mar Ltd. would fulfill its responsibilities as the owner.鈥�

鈥溊植ゴ� Bahamas is committed to holding Baha Mar Ltd. accountable for its improper actions and failed commitments to the Bahamian government, the people of the Bahamas, and all of its creditors.聽 We look forward to working with the financial community and the Bahamian government in order to complete this important project.鈥�

Established in 1985, China Construction America (乐播传媒) is the North American and South American subsidiary of CSCEC. CSCEC is a public company listed on the Shanghai Stock Exchange with a total market capitalization of $48 billion as of June 2015. Ranked 52nd among Fortune Global 500 companies and no. 1 on the ENR Global Contractors list in 2014,聽 CSCEC is unrivaled by any other construction company in the world.

乐播传媒 Bahamas is a wholly owned subsidiary of 乐播传媒 with founding principles of integrity and innovation with quality assurance and value creation.聽 With a revenue of approximately $2 billion in 2014, 乐播传媒 is ranked no. 32 top contractor in the US. In accordance with its core values, 乐播传媒 is committed to creating value for all stakeholders and building a better Bahamas and a better world.

乐播传媒 Bahamas has retained Island Capital Group, a private real estate merchant bank, led by Andrew L. Farkas, as its exclusive restructuring and financial advisor in relation to the Baha Mar project.聽 乐播传媒 Bahamas has also retained the law firms of Shearman & Sterling LLP; Peckar & Abramson; Squire Patton Boggs 聽in the United States and McKinney, Bancroft & Hughes in Nassau, Bahamas to represent it in connection with all of its affairs in the pending U.S. bankruptcy proceedings and in the Bahamas.

MEDIA CONTACT:
Michael Curto

Squire Patton Boggs
+1 202 457 6000
michael.curto@squirepb.com

“We look forward to playing a constructive role in the process going forward and remain committed and fully prepared to re-mobilize quickly in order to complete the work at Baha Mar with the same high quality of performance that has earned us our stellar reputation in the international construction industry. 乐播传媒 Bahamas’ expertise and historical knowledge of the Baha Mar project is critical to successfully completing the resort and putting Bahamians back to work.

While Baha Mar Ltd. was unwilling to reach an agreement which addressed the significant concerns of the principal stakeholders, our commitment to supporting the Bahamian government and the people of the Bahamas has never waned.聽 As always, we stand ready, willing and able to work closely with any and all appropriate parties to expeditiously open this landmark resort.鈥�

Established in 1985, China Construction America (乐播传媒) is the North American and South American subsidiary of CSCEC. CSCEC is a public company listed on the Shanghai Stock Exchange with a total market capitalization of $48 billion as of June 2015. Ranked 37th among Fortune Global 500 companies in 2015 and no. 1 on the ENR Global Contractors list in 2014,聽 CSCEC is unrivaled by any other construction company in the world.

乐播传媒 Bahamas is a wholly owned subsidiary of 乐播传媒 with founding principles of integrity and innovation with quality assurance and value creation.聽 With revenue of approximately $2 billion in 2014, 乐播传媒 is ranked no. 32 top contractor in the US. In accordance with its core values, 乐播传媒 is committed to creating value for all stakeholders and building a better Bahamas and a better world.

MEDIA CONTACT

Michael Curto
Squire Patton Boggs
+1 202 457 6000
michael.curto@squirepb.com

Approximately 300 guests from the public and private sectors attended the ceremony, including Philip E. Brave Davis, Deputy Prime Minister and Minister of Works and Urban Development of The Bahamas, Weihua Wang, Permanent Representative of China鈥檚 Office of Commercial Development in Panama, Kenred Dorsett, Minister of the Environment and Housing of The Bahamas, Ning Yuan, Chairman and President of 乐播传媒 and Chairman of 乐播传媒 Panama, David Wang, Executive Vice President of 乐播传媒 and President of 乐播传媒 Panama, and James Simpson, Member of the Board of 乐播传媒, Senior Advisor to Chairman Ning Yuan and former Commissioner of Transportation for New Jersey.

Deputy Prime Minister Philip Brave Davis congratulated 乐播传媒 on its expansion into Panama, one of the fastest growing economy in Latin America over the past decade. 鈥淭his expansion evidences the fact that success comes only to those whose goals are so strong that obstacles act only as the investor鈥�, said Mr. Davis. He acknowledged 乐播传媒鈥檚 contribution to the Bahamian economy and commended 乐播传媒 for its resourcefulness, expertise and professionalism. 鈥淔or The Bahamas, we are grateful for the contribution of 乐播传媒 in our efforts to improve our economy through foreign direct investment, the creation of jobs, and the provision of training opportunities鈥�. As the financier, investor and builder of the Baha Mar project, 乐播传媒 has helped create thousands of jobs for the Bahamian people and hundreds of millions of dollars in revenue for local businesses. 鈥淔inances, dedication, network capability, and other resources are major assets of 乐播传媒; and these assets accomplish the seemingly impossible鈥�. The company鈥檚 most recent British Colonial Hilton Nassau hotel project is estimated to create 250 jobs during construction and 500 permanent jobs after completion for Bahamians, contributing $750 million to the Bahamian GDP in 20 years.

Permanent Representative Weihua Wang of China鈥檚 Office of Commercial Development in Panama extended his congratulations to 乐播传媒. He was glad to see that 乐播传媒, a subsidiary of a major Chinese company, has opened its office in Panama. He believed that 乐播传媒鈥檚 outstanding expertise in construction and real estate will benefit the Panamanian economy, which will help create a more vigorous business relationship between China and Panama.

乐播传媒 President Ning Yuan expressed his appreciation to the guests for their presence and support. He said, 鈥淭he Panamanian people and government have a done a great job maintaining such a strong economic growth over the past ten years; their determination to continue boosting the economy and improving the people鈥檚 lives is admirable. 乐播传媒 is proud to be part of this remarkable endeavor and is eager to share its expertise, experience and resources with the Panamanian people. By bringing premium products and services to Panama and other Latin American countries, 乐播传媒 stands poised to contribute to the region鈥檚 grand development plans.鈥�

As a veteran in the transportation and infrastructure construction field, Mr. James Simpson shared his insight into the importance of building and maintaining a modern infrastructure system. 鈥淎 modern infrastructure system is a critical component of an economy. It is the precondition for greater mobility of goods and people, which results in higher economic vitality and more business opportunities鈥�. He underscored 乐播传媒鈥檚 impressive development and track record in the US. 鈥淪ince entering into the US market, 乐播传媒 has received accolades for the quality and safety of its projects from the industry. Its ceaseless pursuit of excellence underlies the core values of 乐播传媒, which are Quality Assurance and Value Creation, and underpins its vision of becoming one of the most competitive construction and real estate companies in the Americas鈥�.

乐播传媒 Panama President David Wang expressed his confidence in the positive prospect of the Panamanian economy as well as the Latin American economy as a whole. He believed that the prowess of 乐播传媒 as contractor, construction manager, and investor would well serve the development goals and objectives of Panama. 鈥淥ver the past 30 years, 乐播传媒 has started from scratch and grown into a top player in the US market. Its emphasis on localization and commitment to giving back to the communities have enabled it to adapt to the local market very quickly. 乐播传媒 will adopt the same approach in Panama to benefit the local economy and people while realizing its own ambition for the Panamanian market as well as the Latin American market at large鈥�. On behalf of 乐播传媒, Mr. Wang expressed his support of two local charities, Fundacion Valorate and Special Olympics Panama. An MOU on a social housing project was also signed at the ceremony.

President of Panama Juan Carlos Varela received Deputy Prime Minister Davis, Minister Dorsett, Mr. Ning Yuan and other 乐播传媒 executives at the presidential palace before the opening ceremony. He welcomed 乐播传媒 to Panama and hoped that tangible results could be achieved soon.

Since its establishment in Delaware three decades ago, 乐播传媒, the sole subsidiary of the top construction and real estate company in the world鈥擟SCEC鈥攈as been committed to building mutually beneficial partnerships with various stakeholders in the communities where it operates. Headquartered in Jersey City, New Jersey, 乐播传媒 mainly operates in New York, New Jersey, Washington DC, North Carolina, South Carolina, Louisiana, Florida, California and The Bahamas, providing a broad range of construction and real estate services such as program management, construction management, general contracting, design-build, and financing for public and private clients. Underpinned by its practical business approaches and ambitious yet prudent development strategies, 乐播传媒 has become a top 40 contractor and a top 20 construction manager in the US with revenue exceeding $1.7 billion in 2014. 乐播传媒 has been actively exploring new growth areas in real estate, project financing and public-private partnerships, as well as new geographical markets in other parts of the Americas.

Media CONTACT:
Sharon Zhang
+1 201 876 2788
zhang_xijing@chinaconstruction.us