Ownership change at White Swan

The Guangdong government has taken total control of Guangzhou's White Swan, the first modern hotel in China funded by overseas capital. The five-star property has received nearly 8m guests since it was set up in 1983 by Hong Kong investor Henry Ying Tung Fok and Guangdong province. In future, Fok will co-operate with the province in running the White Swan via a hotel management company.