China Merchants in US$1.28 bn Shenzhen investment

China Merchants Group said it will invest US$1.28 billion to develop its logistics and port businesses in Shenzhen over three years. The company currently accounts for over half the port's container throughput, Shenzhen officials said. China Merchants Chairman Qin Xiao said his company would build a technology park, a bonded zone, as well as invest in harbor, airport, railway and road facilities.