IN BRIEF (Page 13)

Guangdong, Taiwan initiative

Bases for cooperation between Guangdong province and Taiwan in the technology, petrochemical and photoelectric industries, and a service center for Taiwan businesses will be launched at a ceremony on Sept 6 to facilitate economic restructuring in the two.

Guangdong houses more than 24,000 Taiwan enterprises and the new initiatives are meant to create opportunities for Taiwan businesses, said Zhang Ke, deputy director of the Taiwan affairs office of Guangdong on Thursday.

Tourist property website opens

China Real Estate Information Corporation (CRIC), a major provider of real estate information, consulting, and online services, launched a website for tourism-area real estate on Thursday.

The website will provide real estate projects in China's major tourist resorts and offer related travel services. CRIC will also work with Leju.sina.com, Baidu.com and Ctrip.com in promoting the real estate.

Tariffs waived on equipment

China waived import tariffs on offshore and some designated onshore oil and gas exploration equipment for the 12th Five-Year Plan period (2011-2015), to support the development of the two sectors, according to statements posted the Ministry of Finance website on Thursday.

The designated areas for the onshore projects include desert land in the Xinjiang Uygur and Inner Mongolia autonomous regions, and Qinghai province, the agency said.

CIC may start investment firm

China Investment Corp (CIC), the nation's sovereign wealth fund, may set up a new company focused on overseas investment, China Business News reported on Thursday without citing a source.

CIC may become a holding company containing the new entity and Central Huijin Investment Co, according to the Shanghai-based newspaper.

The People's Bank of China may inject about $100 billion into the new company, according to the report.

Air China to up Cathay stake

Air China Ltd said in a statement on Wednesday that its parent company, China National Aviation Holding Co, will invest 1 billion yuan ($156 million) in it, following its previous cash input, which aimed to increase its share in Cathay Pacific Airways Ltd.

However, neither company has taken concrete action to complete the deal, according to the statement.

Funds sought for Disney park

The State-owned Shanghai Shendi Group is seeking over 20 billion yuan financing from a dozen local banks to back the construction of the planned Disney theme park in Shanghai, banking sources told Thomson Reuters Basis Point.

The proposed theme park is to be 57% owned by the Shanghai government and 43% by Walt Disney Co.

China Daily - Agencies

(China Daily 09/02/2011 page13)