China Chengtong Development Group Limited is an investment holding company. The Company along with its subsidiaries is principally engaged in property development, property investment including land resource exploitation, and strategic investment. During the year ended December 31, 2009, the Company commenced the construction of the commercial and residential projects named CCTChamps-Elysees in Zhucheng City of Shandong Province and Chengdong International New Town in Dafeng City of Jiangsu Province. During 2009, the Company completed the acquisition of three parcels of land for industrial use, located in Changzhou of Jiangsu Province, Shenyang of Liaoning Province and Guilin of Guangxi Province from CCHG indirectly. On 31 December 2009, the Group entered into a sale and purchase agreement for the disposal of 100% equity interest in an investment property holding company.