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CHINA EXPECTS AN 8.4% ECONOMIC GROWTH IN 2013
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According to China Daily, the latest report released by the Center for Forecasting Science under the Chinese Academy of Sciences predicts that China will see a mild rebound in 2013 amidst sluggish external demand. The value-added in the country's primary, secondary and tertiary industry will grew annually at 4.7 percent, 8.9 percent and 8.8 percent, respectively.
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PLANNING
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SHANGHAI LURES MULTINATIONAL COMPANIES |
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According to China Daily, more than 1,000 multinational companies had set up offices in Shanghai by the end of 2012. Shanghai Municipal Commission of Commerce show that 83 percent of these multinationals are from the US, European and Japanese companies and 82 of them are Fortune 500 firms. BP, Hewlett-Packard and the Kubota Corporation have all moved their regional headquarters to Shanghai. Shanghai attracted more than US$22.3 billion in foreign investment in 2012, up 11.1 percent year-on-year. |
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TOURISM
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CHINA’S FIRST LUXURY CRUISE LINER READY TO SAIL |
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According to China Daily, the Henna, China’s first luxury cruise liner, recently left Hainan for her maiden voyage. The vessel was bought by the Chinese company in July from Pacific Sun P&O Cruises Australia and refurbished at Sembawang Shipyard in Singapore. In the 12th Five-Year Plan on marine economy development, authorities vowed to boost the industry and improve cruise transport in coastal areas including Dalian, Tianjin, Qingdao, Shanghai, Xiamen, Shenzhen and Sanya. |
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HOTEL
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GUANGZHOU MANDARIN ORIENTAL OPENED |
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Mandarin Oriental announced the opening of Mandarin Oriental Guangzhou, the first Mandarin Oriental city hotel in China, in time for the Chinese New Year period through to April. The Mandarin Oriental Guangzhou is situated within the Tai Koo Hui development. Tai Koo Hui development is Swire Properties’ largest investment in mainland China. The mixed development, which yields 358,000 square metres of gross floor area, includes a world-class shopping plaza, two Grade-A office buildings and a cultural centre. The hotel has 233 rooms, 30 suites and 24 serviced apartments.
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ASCOTT PRESCENCE GROWS IN GUANGZHOU |
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Ascott has entered into a strategic alliance with Yuexiu Property, one of the largest property developers in Guangzhou. In addition, Ascott has secured contracts to manage two more serviced residences, namely the Citadines LiZhiWan Guangzhou and Somerset Riviera Guangzhou. By 2015, Ascott hopes to achieve a target of 12,000 apartments units in China. The 34 unit Citadines LiZhiWan Guangzhou is located in the city's historic LiZhiWan area while the 32 unit Somerset Riviera Guanzhou is situated right next to the Pearl River with all the apartments being four bedroom units. |
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INVESTMENT
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DUSIT INTERNATIONAL INTENT TO PARTNER WITH CHANGZHOU QIAO YU GROUP |
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Dusit International recently announced its intention to partner with Changzhou-based real estate and hotel developer Changzhou Qiao Yu Group. The joint venture agreement will see the company add a further 10 hotels in China. Dusit has five hotel management agreements confirmed in China. By 2020, the joint venture (Dusit Fudu International Hotel Management Company) plans to have over 5,000 rooms under management.
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Absolute Share Price Performance, as at 21 January 2013
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Closing Share Price as at |
21 January 2013
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14 January 2013
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% Change |
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China Shanghai Stock Exchange (RMB)
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Shanghai Jinjiang International Hotels Development
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14.49
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14.50
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-
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Beijing Capital Tourism Co Ltd
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11.84
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11.66
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2%
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Jinling Hotel Corporation Ltd
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7.24
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7.20
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1%
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China Shenzhen Stock Exchange (RMB)
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Hunan Huatian Great Hotel Co Ltd
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4.37
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4.26
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3%
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Guangzhou Dong Fang Hotel Co Ltd
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6.75
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6.80
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-1%
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Shenzhen Century Plaza Hotel Co Ltd
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4.38
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4.28
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2%
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NASDAQ (US$)
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China Lodging Group, Limited
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18.58
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18.18
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2%
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Home Inns & Hotels Management Inc
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31.13
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30.13
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3%
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Hong Kong Stock Exchange (HK$)
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Miramar Hotel & Investment Co Ltd
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10.62
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10.64
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–
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Regal Hotels International Holdings Ltd
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3.81
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3.70
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3%
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Sino Hotels Holdings Ltd
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2.49
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2.41
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3%
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The Hong Kong & Shanghai Hotels Ltd
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11.62
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11.62
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–
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Shangri-La Asia Limited
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17.00
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16.66
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2%
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Dorsett Hospitality International
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1.96
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1.94
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1%
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Taiwan Stock Exchange (NT$)
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Formosa International Hotels Corporation
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361.50
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371.00
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-3%
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The Ambassador Hotel, Ltd
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30.25
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31.30
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-3%
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Disclaimer
Information provided above has been gathered from various market sources. HVS has not independently verified the accuracy of the information provided. Interested parties should not rely on the information as statement of facts and are advised to make their own independent checks to verify the information provided. For further information or to share news with us, please feel free to contact HVS Shanghai.
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