Harbin attracts Hong Kong investors
July 18, 2011 Category Foreign investment, Weekly
The municipal government of Harbin, capital of Heilongjiang province, has recently attracted CNY24.7 billion worth of investment from Hong Kong companies, including China Resources Group, Bank of East Asia and China Merchants Group, for projects covering property, logistics and mining, among others. China Resources, a property-to-retail conglomerate, agreed to invest in a commercial property project and a distribution center for pharmaceutical products in the city. Bank of East Asia and the Harbin government formed a partnership to develop the city’s Songbei district. The logistics arm of China Merchants Group will invest in facilities in the city. Long Yu Investment Holding, a private company in Hong Kong, will invest CNY1.2 billion for the exploration and production of a silicon mine in Harbin with a reserve of an estimated 3.4 million tons of silicon.
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