Chaosuzhou is a famous historical and cultural city, and a famous hometown of overseas Chinese. Overseas, there are more than 10 million Chaozhou expatriates, "where there is tide, there are Chaozhou people". Therefore, the development of tourism in Chaozhou is very "people and" conditions. 90's, the municipal government in accordance with the "industrial city, tourism city" development goals, as well as "West Industrial, East Tourism "The planning concept, in the East Mountain grant 2000 acres of land, intended to build a not only attract tourists to come and let them stop for a few days of entertainment and leisure attractions. After repeated arguments, it was finally decided that the 2000 acres of land to build a theme park called "Beauty City". 1,000 acres of attractions and 1,000 acres of villas. The total investment of 20 million U.S. dollars (equivalent to 173 million yuan), covers an area of 666,000 square meters of "Beauty City", plans to build eight scenic spots: Huaxia Palace, Windsor Castle, carnival garden, lovers island, song and dance forest, colorful garden, fairy tale village, star court, and the Lillian school, dog racing, male sculpture plaza and so on. The whole park will utilize the forms of architecture, garden, sculpture, painting, sound and light technology and cultural and artistic performances to express the outstanding female characters in ancient and modern times as well as the styles of various countries and nationalities.
Project by the Golden Horse Group and the Hong Kong Vineland Real Estate Company Limited formed a sino-foreign joint venture Chaozhou Beauty City Limited is responsible for the construction and management. The company's registered capital of 18.3 million U.S. dollars, the two sides of the joint venture each contributed 50%, that is, 9.15 million U.S. dollars. Golden Horse Group has invested 31 million yuan of listed share capital to invest its own proportion of capital. After the opening of the project, it is expected to generate an annual profit of 500.3 million yuan after tax, calculated on the basis of the invested capital of 158 million yuan, with a return on investment of 31.7% and a payback period of 3.16 years.
By the end of 1995, the "Beauty City" officially started construction, and planned to open in the Spring Festival of 1998. However, the original investment of less than 150 million yuan of the project, in a "no one can control" frenzied atmosphere, the project gets bigger and bigger, and finally the total investment budget climbed to 250 million yuan.
However, due to the financial turmoil in Southeast Asia, the partners failed to invest. The original 80 million yuan of capital investment in only 10 million yuan. At the same time, due to changes in the situation, borrowing from domestic financial institutions is also increasingly difficult. By 1997, due to follow-up funds can not keep up, "Beauty City" project was forced to stop.