Suzhou Announces New 'Eco Park'
Building work on China's biggest urban eco park, named Baiyangwan
Ecological Park, will begin soon in Suzhou's Jincang area, according to
a brief government news release. Details are scarce, but the park is
slated to be a 25-hectare development, and will cost RMB220m. It is
slated to open on 1 May next year.
Fraport Eyes More Chinese Airport Stakes
German airport operator Fraport AG plans to invest EUR50m into China's
Xi'an airport, according to comments made by its Chief Executive,
Wilhelm Bender. Fraport has a 24.5 per cent stake in the airport.
Bender said Fraport is also close to making stake purchases in two more
Chinese airports, and is close to agreeing an investment into Prague
airport, in the Czech Republic.
PAL Launches Two Manila-China Services
Philippine Airlines today launched a twice-weekly direct flight service
between Manila and Chengdu, capital of Sichuan province. The launch
comes just four days after PAL launched a new regular service, also
running twice per week, between Manila and Chongqing. PAL now has
service to five Chinese cities, with daily services to Shanghai and
Xiamen, and a five-times-weekly service to Beijing.
Deutsche Bank Increases Huaxia Bank Stake
Deutsche Bank has paid USD550m to increase its stake in China's Huaxia
Bank, from 9.9 per cent to 13.7 per cent, AFP reports. The German bank
bought its existing 9.9 per cent two years ago and was granted two
seats on the board of directors in the Chinese bank. Huaxia operates
close to 290 retail branches in several Chinese provinces.
Ping An Invests USD6.6 bn in Fortis
China's Ping An insurance company has spent a total of USD6.6 bn to
increase its stake in the European bank to 4.99 per cent. USD3.36 bn
will be used to buy 50 per cent of Fortis' asset management arm. Ping
An's injection in Fortis is the largest overseas investment by a
Chinese financial company.
Golden Cartoon & Virgin Comics Partnership Signed
Suzhou
Golden Cartoon Co. and Virgin Comics and Animation Co. have signed a
cooperation agreement at the Suzhou Industrial Park to jointly develop
new animated products for China. The merger will create a sizeable
presence in the local market. Golden Cartoon was founded in May 2007 to
develop animation design and market promotions. Last year, it created
ink wash cartoons and related derivatives based on the famous painting
"Thriving Suzhou" by Qing dynasty artist Xu Yang. Virgin LLC was
established in 2005, and has produced cartoon stories through the
blending of Western and oriental cultures.
Last update : Tuesday, 22 July 2008
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