Hotel, industry and travel news from around the Greater China region; this week: China's growth continues, first Anatara in China, another theme park for Beijing and more....
CHINA'S ECONOMIC GROWTH GAINING MOMENTUM
According to China Daily, in October, economic growth showed signs of recovery- generating optimism that the country could achieve its annual growth target of 7.5 percent. Driven mainly by industrial production, fixed-asset investment and domestic consumption, China's economy witnessed the lowest consumer price index increase in the last 33 months- registering a 1.7 percent year-on-year growth. Investment in fixed assets recorded a growth of 20.7 percent in the first ten months of the 2012, compared with 20.5 percent in the first nine months.
LAND RECLAMATION RULES OUTLINED
According to the Central People's Government, the State Council and China's Cabinet has recently approved the ocean use plaen (2011-2020) for Shanghai, Guangdong and Hainan. According to the plan, by the end of 2020, Guangdong can reclaim 23,000-hectares of land from the sea; Hainan can reclaim 11,150 hectares and Shanghai, 2,300 hectares.
SOUTHWEST CHINA-TIBET RAILWAY TO BOOST REGION, SAYS OFFICIAL
Southwest China's Tibet autonomous region will speed up construction of its transport network in coming years to boost the flow of passengers and goods, a senior regional official said on Thursday. Construction of a new railway linking Lhasa, capital of Tibet, and Nyingchi prefecture in the region's southeast will start very soon, Padma Choling, chairman of the autonomous region, told a group discussion at the 18th National Congress of the Communist Party of China in Beijing.
CHINA STEELMAKER TO CONVERT FORMER PLANT TO THEME PARK
Shougang Group, one of China's largest steel makers, plans to invest RMB10 billion (US$1.6 billion) to build an industrial-themed park on its former site in southwest of Beijing. Assistant general manager of Shougang Group said on Saturday that the park, with the characteristics of "post-industrial era," will be ready within five years and is expected to cover an area of 83 hectares. It will preserve some of the factory's former facilities including workshops, chimneys and crane tracks.
FIRST ANATARA PROPERTY IN CHINA
Anantara opens its twentieth property and its first property in China. Located on the southernmost tip of Hainan Island in China, the Anantara Sanya Resort & Spa offers 122 rooms, suites and private pool villas, with an emphasis on spa accommodation. Spa Pool Villas face the ocean and offer 500 square meters of living space, including a secluded pool oasis surrounded by lush gardens, with private trails to the shoreline. The resort includes the signature Anantara Spa.
MAPLETREE PLANS IPO FOR CHINA'S ASSET
According to Wall Street Journal, Mapletree Investment Pte. Ltd. plans to raise US$1.5 billion through listing its China assets through an initial public offering in Singapore in the first half of 2013. Mapletree, a branch of Temasek Holdings Pte. Ltd., plans to inject some of its Chinese real estate assets into a REIT. Although the plan is still in the initial stage, the IPO would be the largest in Singapore since Hutchison Port Holdings Trust raised US$5.5 billion in March 2011. This would further strengthen Singapore's position as a regional hub for listings of real-estate investment trusts.
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