Shanghai Disneyland first phase US$3.7b
CHINA has approved 24.5 billion yuan (US$3.7 billion) for investment in the first phase of the Disneyland theme park planned for Shanghai, Shanghai Securities News reported yesterday, quoting the city s mayor, Han Zheng.
In November, Walt Disney Co. signed an agreement with a company backed by the Shanghai Municipal Government to build the long-planned theme park, which will be one of the largest-ever foreign investments in China. The two parties are doing preliminary work on the park now, Shanghai Securities News report quoted Han as saying. The Shanghai theme park will be Disney s fourth outside the United States, after Paris, Tokyo and Hong Kong.
China should curb corn-based product output
CHINA should use economic and administrative measures to curb the production and exports of corn-based products including starch and alcohol, to guarantee supply to livestock and poultry, China National Radio reported on its Web site, quoting Bao Kexin, president of the China Grain Reserves Corp.
China should next curb exports of meat, poultry and eggs because their production worsens the country s shortage of farmland and fresh water, the radio said, quoting Bao. China must also cut land losses to urbanization and guarantee at least 1.8 billion mu of farm land, Bao was quoted as saying by the radio s Web site report.
Wahaha plans to buy Japanese yogurt maker
HANGZHOU Wahaha Group chairman Zong Qinghou, China s richest man, said he is considering buying a Japanese yogurt maker.
The Japanese company recently approached Wahaha, China s third-biggest soft-drinks maker, about acquiring it, Zong said at a briefing in Beijing, where he s attending the annual meetings of the National People s Congress. Talks haven t yet started, he said, without giving more details.
Zong, whose wealth was estimated by Forbes at US$8 billion last year, has said he wants to buy foreign companies that produce products China lacks and which Wahaha can then sell domestically. The beverage maker aims to boost sales 27 percent this year to 70 billion yuan. Zong also said Wahaha has decided not to invest in Taiwan as the island s market isn t large enough.
