Passenger throughput at Hong Kong International Airport tumbled 12 per cent year-onyear to 2.55m in October. Cargo fell 6.3 per cent to 197,000 tonnes. The airport blamed the slump on the slowing international economy and the repercussions of the September 11 terrorist attacks on the US. The only bright spot was a 13 per cent […]
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Marco Polo opens in Beijing
Another luxury hotel in Beijing opened last month – the 10-storey Marco Polo Beijing in the city's financial district. The hotel contains 296 guest rooms and suites and is located at Xidan intersection close the headquarters of the Bank of China. The Marco Polo Hotel Group, a subsidiary of The Wharf (Holdings), has seven properties […]
The Hong Kong-based luxury hotel group Shangri-La Asia plans to invest US$400m in China over the next four years in new hotels and an expansion of its existing property in Pudong. New hotels are planned in the Puxi area of Shanghai and in Fuzhou, capital of Fujian province. "The Chinese economy is seen as quite […]
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China formally joins WTO
The November meeting of the World Trade Organisation in Qatar, approved the applications by China and Taiwan to join the organisation. China's trade minister, Shi Guangsheng, said that China was determined to play by WTO rules and that its membership would provide more and better opportunities for exporters and investors worldwide. The full procedure for […]
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New policy on aid to China
In response to mounting domestic criticism of its programme of official development assistance to China, the Japanese Ministry of Foreign Affairs has adopted a radical new policy, Nikkei said. The current multi-year loan package will be replaced by a system of single-year financing of projects that better serve Japan’s interests. In addition, the ministry wants […]