Xiamen opens projects to foreigners

The Xiamen municipal government is allowing foreign companies to bid for majority shares in a RMB 3 billion bridge, a port passenger terminal and related property and hotel projects. Construction of the RMB 1 billion terminal began in October and should be completed in five years.

The terminal is intended to serve tourists from Hong Kong and Taiwan with foreign majority shareholders permitted a role in management and planning. The Xiamen Transport Commission said foreign investment could account for 90 percent of the cost of the bridge.