Guangzhou has received the go-ahead to begin construction on a big ship-production base that could help advance the southern metropolis' status as a major Chinese ship producer.
A consortium led by Nan Fung Development and Sino Land paid HK$4.55 billion for a 238,164-sq-ft residential site in the New Territories auctioned by the Hong Kong government on Monday.
As the 17th National Congress of the Communist Party of China convenes in October, domestic issues related to China's emergence as a major stakeholder in the global economy are destined to unfold.
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