A fear of vanishing in the "Bermuda Triangle" is resulting in emerging Chinese companies worth hundreds of billions of dollars deciding to incorporate in Cayman or other offshore jurisdictions rather than Bermuda.

It seems crazy, but legend and stories of the mysterious triangle form such a strong image in the minds of the Chinese population half a world away that it carries weight amongst corporate investors of the dynamic emerging economy.

That is a major reason why Bermuda's rival Cayman Islands is doing better at attracting the new incorporations from the world's most populous country.

Overcoming the "Bermuda Triangle" factor is part of the job for Bermuda's John Milligan-Whyte, who is currently at the forefront of a drive to bring multi-billion companies from the booming Chinese economy to Bermuda to enjoy the benefits of incorporating here as opposed to another jurisdiction.

When you are talking about big investment companies they don't come any bigger than China's $200 billion Central SAFE Investments - and where a vast concern like that incorporates, should it seek a competitive offshore domicile, will be of major significance to the future of jurisdictions such as Bermuda.

China's roaring economy appears set to dominate the 21st Century and eclipse the hegemony of the US, possibly a lot sooner than many have projected.

When and where the immense corporations from China decide to domicile could swing the fortunes of places such as Bermuda and rivals like the Cayman Islands.

Putting Bermuda in pole position in the eyes of China's political and corporate leaders is something that Mr. Milligan-Whyte and the team at CORE Capital are working hard to achieve - and it is showing promising results.

Last month Mr. Milligan-Whyte travelled to China and met with the man who is number two at the giant Central SAFE Investments fund.

And now he has been invited as a speaker at a concluding panel of the First International CEO Roundtable of Chinese and Foreign Multinational Corporations in Beijing in mid-November.

Either the President or the Prime Minister of China is due to attend, as are nine government ministers, the heads of all China's banks, the chairman of the country's stock exchanges, 100 CEOs of major Chinese companies to name but some. The panel on which Bermuda's Mr. Milligan-Whyte will speak is being chaired by former United Nations Secretary General Kofi Annan.

What comes as a surprise is the power of the Bermuda Triangle legend and mythology on the minds of the Chinese, even amongst senior figures of billion-dollar enterprises.

While in China at the beginning of September for the World Economic Forum's Inaugural Meeting of the New Champions, Mr. Milligan-Whyte was horrified to see an hour-long programme about the Bermuda Triangle broadcast on TV.

"There are people there who think if they come to Bermuda they are going to disappear," he said. "Unfortunatly (for us) it is not called the Cayman Triangle."

Dai Min, co-author with Mr. Milligan-Whyte of two Sino-US economics books that are changing the Chinese mindset about how and where to form global corporate partnerships, said: "I love Bermuda and I am co-chair of the China Bermuda Society. But, we recognised that by itself Bermuda's value proposition cannot be effectively explained in China quickly or widely enough to overcome the 'Bermuda Triangle' stigma that frightens away potential Chinese business and vacation visitors."

However, the triangle-angle has not been the only thing working against Bermuda.

Mr. Min added: "More importantly, the Bermuda value proposition was failing to attract emerging Chinese mega-multinationals being positioned today for huge IPOs and market capitalisations.

"These emerging new mega-corporations are setting up in Cayman and the number and size of their future capital raising and maturing businesses will dwarf existing Fortune 500 companies."

What the two writers are advocating is for genuine partnerships between US and Chinese companies using Bermuda holding companies to achieve global competitiveness and list on world stock exchanges such as the NASDAQ - something not possible for Cayman incorporations.

To do this CORE Capital has created what it terms as its 'Genuine Global Joint Venture Model' which is being promoted through the books 'China and America's Emerging Partnership: A Realistic New Perspective' and 'New China Business Strategies: Chinese and American Companies as Global Partners'.

The books reach a far wider audience, much quicker, than any amount of lobbying and face-to-face meetings would in country as huge as China, say the two authors. And the impact of the books, which have been translated for Chinese readers, is being felt.

When the high-powered 1st International CEO Roundtable is held in Beijing from November 16-18, the translated books are being distributed and Mr. Milligan-Whyte will be a key speaker on one of the events concluding panels, which he feels is a telling decision by the Chinese Government into what message it wishes the delegates to absorb as the event finishes.

Mr. Milligan-Whyte said CORE's global joint venture model: "Allows a China company to get help in going global without stumbling and allows a US company to continue to exist.

"We will advise the US and Chinese companies about setting up this joint model," he explained.

Now, with the welcome to attend a "by-invitation" event at which "everyone you would want to be there" is attending, CORE Capital will be given its biggest opportunity yet to bang the drum for Bermuda and hopefully attract the Chinese economic giants to incorporate globally through Hamilton.

"We will be delivering the message of using Bermuda as a global joint venture model in one of the most powerful arena possible," said Mr. Milligan-Whyte, who reports there has been an overwhelmingly positive reaction to the two books within China.

And of the decision to include himself on the final day panel discussion, he added: "I view that as an indication that what we are saying will become (China) Government policy and, if it does, there could be a conveyor belt of companies coming to incorporate through Bermuda.

"The fact that the Chinese Government is putting me up there at the conclusion of the meeting is significant."