Chinese Developer Envisions a Future for Abandoned London Docks FEB. 18, 2014
Xu Weiping, with a model of the Royal Albert Dock plans. Hazel Thompson for The New York Times
LONDON — Known for ambitious plans in China for business parks the size of cities, Xu Weiping says he cannot wait to start work on his first project abroad: turning an abandoned London dock into Europe’s main hub for Chinese companies. “I’m a man with a vision and the ability to turn my dream into reality,” said Mr. Xu, dressed in a yellow-and-white Versace shirt, a black velvet jacket and patent-leather shoes with gold buckles. Mr. Xu last year agreed to invest $1.6 billion to turn London’s derelict Royal Albert Dock back into a vibrant global trading hub. But instead of ships he is betting on Chinese companies that are seeking a foothold in Europe.
Mr. Xu said that more than 60 Chinese businesses, many already tenants of his empire in China, have signed up to take space in the development, about nine miles east of London’s city center. Construction on what is planned as 4.5 million square feet of office space, to be done in phases through 2022, could start as soon as this summer.
Mr. Xu of Advanced Business Park, in gray suit, toured the Royal Albert Dock site in May. His plans call for redeveloping the site into a business center. Dan Kitwood/Getty Images
The plan has the backing of Mayor Boris Johnson, who welcomed the investment. Lying untouched since the dock closed in 1981, a hundred years after it was built for ships too big to dock farther up the Thames, the site is one of the largest undeveloped areas in London and has been a major headache for the city. Despite the initial investment, questions remain as to whether the project will succeed. Other plans for the area have failed, and some officials question how many local jobs the Chinese investment will create. Alex Foshay, a partner at the real estate agency Knight Frank in London, said he did not think Mr. Xu would have any problem filling office space. Rising demand from tenants as Britain’s economy recovers, combined with a backlog of planned developments, is pushing up rents and creating a shortage of supply, he said.
Standing on the Docklands Light Railway platform at the Royal Albert Dock station, it is hard to imagine that the windswept patches of grass, parking lots and concrete walkways below could one day be a bustling business center with restaurants, residences and a hotel. The area benefits from a large waterfront, an advantage when attracting Chinese companies because of its importance in feng shui, which holds that water can help the flow of energy. It is also a 10-minute train ride to the Canary Wharf financial district. Mr. Xu’s business park is unlikely to face much opposition from neighbors, mainly because there are none. The existing residential developments are separated from the site by a busy highway, and many residents would welcome anything that would bring restaurants and stores to the area. “It’s wasteland now, so it can only get better,” said Kelly Newsome, who has lived in the area for more than four years. “If the project will create jobs and inject money into the area, that would be very welcome.” Mayor Johnson has said that Mr. Xu’s plan would eventually add 6 billion pounds, or about $10 billion, to the British economy and turn what was once one of “the throbbing arteries of U.K. trade and commerce” into “a world-class international business district.” Mr. Xu said his company, Advanced Business Park, would provide 30 percent of the $1.6 billion investment to construct offices and public and retailing spaces. The rest would come from investors, banks and the presale of office units. The government plans to sell Mr. Xu the 35 acres of the Royal Albert Dock, though the sale price was not disclosed. The development, being in what is now a derelict zone, is eligible for tax advantages. But some of Mr. Johnson’s critics have branded the project the latest example of what they see as his willingness to sell parts of London to the highest bidder too easily. Just west of the Royal Albert Dock, Mr. Johnson struck a sponsorship deal with the airline Emirates for a cable car across the Thames in 2012 and secured funds from Abu Dhabi for the ExCeL London conference center in 2008. The Financial Times reported last year that questions were raised in China about the source of Mr. Xu’s finances for his developments and his links to the Chinese government. In an interview, Mr. Xu dismissed accusations of close government ties and said he made his money designing knitting machines and other appliances before setting up his real estate company. Advanced Business Park owns a business complex in Beijing and has two similar projects under construction. An additional project in Hangzhou Bay, close to Shanghai, is planned to be the size of central London, including a green space the size of Hyde Park.
Mr. Xu’s London plan is by far his smallest, but it comes with challenges. The airplanes taking off and landing at London City Airport just across the water interrupt any calm the waterfront might create. The council of the borough of Newham, which is in charge of the area, has imposed strict rules about a timetable for the construction and how many local jobs the project must create. Previous projects for the area, which included a floating village, failed because they fell afoul of local rules and ran short of developer financing. Sitting in his temporary office in the Royal Albert Dock, in a former storage space designed to keep beef shipments from Argentina dry and cool, Mr. Xu seemed unfazed. Speaking through an interpreter, he said he was not worried about Britain’s bureaucratic hoops to gain building permission. “There is more structure in the U.K. system,” he said with a smile. “But the council of Newham is adapting to our speed.” Mr. Xu said his company expected to get planning permission in the coming months and to start construction of the business park this year. Patricia Holland, a member of the Newham council, said Mr. Xu’s planning application was getting a good reception. Newham, a relatively poor borough that has been struggling to reduce unemployment, said it expected the project to create 20,000 jobs and increase employment locally by 30 percent. Some residents have questioned whether the new Chinese neighbors will indeed seek to employ local staff members without Mandarin language skills. But Ms. Holland also said residents were excited that the project would turn into “something that has more soul because people will care more about it, just like Canary Wharf.” Chinese companies that pledged to take offices in the Royal Albert Dock include the Eve Fashion Group, a male fashion brand; the China Water Group, a water and sewage treatment provider; and the Guangyao Oriental Group, a real estate development company. Even if the project goes ahead as planned, such regenerations can take decades to be successful, said Michael Edwards, a senior lecturer at the Bartlett School of Planning of University College London. Canary Wharf’s initial developers went bankrupt in the commercial real estate collapse of the 1990s. It took decades and large sums of government investment to improve transportation links to attract the global businesses that now provide more than 100,000 jobs. Mr. Xu said he was attracted to the Royal Albert Dock because it fit with his company’s strategy of acquiring land just outside major city centers. As cities grow, the properties will eventually become part of them, he said. His hope is that Canary Wharf will eventually expand eastward and link up with the Royal Albert Dock.
But he said he was also attracted by the history of the site and the link the docks established between Europe and Asia. The Royal Albert Dock opened in 1880 and included warehouses and granaries that lined the quays, storing imported goods before they were delivered farther into London. The docks survived heavy bombing by the Germans during World War II but succumbed to transportation innovation when merchants started using larger container vessels that no longer entered the docks. The docks finally shut in 1981. A history buff, Mr. Xu said he was seeking to revive the dock’s importance. “In the 19th century, the docks were an important trading connection between Asia and the U.K., and it made a good contribution to the economy of Europe,” he said. “There is a new, highly educated generation of Chinese people now, and through this generation we can bring together the cultures of the West and East.”
Chinese developer ABP sets up global headquarters in Newham
THE BOSSES of Advanced Business Park (ABP), the Chinese developer that wants to overhaul London’s Royal Albert Docks, are to move into Newham today after a striking a deal to open global headquarters there. At a formal signing ceremony yesterday between ABP chairman Xu Weiping and Mayor of Newham Sir Robin Wales, the developer announced it will be renting part of the fourth floor at Newham Dockside. The building overlooks ABP’s 35-acre business park development, which is expected to bring some £6bn of investment to the UK economy and help create tens of thousands of jobs. Speaking at the signing ceremony Weiping said: “When I announced in September that we intended to locate our global headquarters in London we were approached with a number of suggestions and options.” “But my heart and my head both told me that the best place and most logical option was Newham. East London and the Royal Docks are fast becoming the first choice destination for business, particularly for international trade.”
Earlier this week ABP signed a separate deal with accountants PwC to provide services to help companies from China to set up in the UK at the Royal Albert Docks. The company hopes to use the Royal Docks as a “gateway” for Chinese firms wanting to gain a foothold in the UK and Europe. PwC will offer tax, legal and accountancy support to companies coming to the UK as part of a so-called corporate “landing service” called First Stop London, run in conjunction with ABP. The government’s recent relaxation of visa rules for Chinese businessmen is also expected to encourage their move to the UK. Proposals for Royal Albert Dock went on display yesterday for three days at a public exhibition at Compressor House. http://www.cityam.com/article/1391734442/chinese-developer-abp-sets-global-hea dquarters-newham#sthash.wUzg2s7z.dpuf
China's Royal Albert Dock developer and PwC sign services agreement Agreement to provide services for incoming Asian companies will smoothe the path for London to become a gateway for Chinese businesses
An artist's impression of the £1bn development at Royal Albert Docks Photo: Jason Hawkes
By Ashley Armstrong 12:00PM GMT 04 Feb 2014
The Government’s goal of making London a hub for Chinese investment received a further boost today after accountancy firm PwC signed an agreement with Chinese real estate developer ABP which will smoothe the path for Asian companies to relocate in the capital. ABP is already working on a £1bn plan to transform London’s Royal Albert Docks into a European headquarters for hundreds of Chinese firms. PwC announced on Tuesday a tie-up with ABP to create a one-stop-shop for services for Chinese businesses that want to relocate to the docklands development.
The agreement will see APB provide business premises, recruitment facilities and logistics while PwC will offer tax, accountancy and legal support to companies as part of a “corporate landing service”, which will be called First Stop London. “First Stop London is being launched in response to the demand from companies in China,” ABP’s chairman Xu Weiping said. “They are looking to expand and know that we have made the switch to the UK and so they have asked for our help and to draw upon our experience and with the connections we have in London, in Beijing, Shenyang and Qingdao and South Yangtze,” Mr Weiping added. Sir Tom Troubridge, chairman of PwC's China business group, said: “More and more Chinese firms are seeking a foothold in the UK and Europe. Our dedicated China team provides hands on, practical assistance to make it as pain-free as possible for Chinese companies to set up here and make inroads in the UK market." The development is part of a multi-pronged strategy by the Government to welcome Chinese investment. The Government has already begun to relax visa rules for Chinese businessmen under an investor visa programme which requires at least £1m of funds to be brought into the UK. Since the programme was introduced wealthy Chinese nationals have been the fastest on the uptake with 171 successfully applying for a visa in 2012/13 - an increase of 80 percent on the previous year, figures revealed last week. The 35 acre site development has been tipped to be worth £6bn to the British economy and likely to generate £23m in business rates. The proposals for Royal Albert Dock will go on display at a public exhibition at Compressor House for three days this Thursday. As part of the plans it is envisaged that the Royal Albert Dock will link up with the Crossrail scheme when a new station opens at the site in 2018. http://www.telegraph.co.uk/finance/china-business/10616454/Chinas-Royal-Albert-Dock-developer-an d-PwC-sign-services-agreement.html
ABP to headquarter at Royal Albert Dock Chinese developer ABP is to establish a new global headquarters at Newham Dockside, London. The ABP new global headquarters will be on the fourth floor of the East Wing of Newham Dockside, which is owned by the Newham Council. It has signed a ten-year lease. It expects to employ more than 100 people. The new headquarters overlook the site that ABP is turning into a 35-acre hub for businesses from Asia. On Tuesday Property Weekrevealed ABP signed a deal with PWC to provide services to help companies from China to set up in the UK at the Royal Albert Dock. The scheme will comprise 3.2m sq ft of development, including 2.5m sq ft of offices. ABP Chairman Xu Weiping said: “This move marks an exciting new chapter in ABP’s development as our business continues to expand globally. Our decision to grow here in Newham highlights our commitment to the Royal Albert Dock project in creating London’s newest business district. “When I announced in September that we intended to locate our global headquarters in London we were approached with a number of suggestions and options. But my heart and my head both told me that the best place and most logical option was Newham. East London and the Royal Docks are fast becoming the first choice destination for business, particularly for international trade.”
http://www.propertyweek.com/news/news-by-region/london/abp-to-headquarter-at-royal-al bert-dock/5065975.article
Singtao Daily News (UK) 5 February 2014
Nouvelles D'Europe 5 February 2014
Propeller TV 7 February 2014
http://www.youtube.com/watch?v=Yln1jw4ehvo&feature=youtu.be
UKCBA members join reception to celebrate Chinese New Year at 10 Downing Street 4-2-2014 Monday 3rd February, 2014
(L to R) Chris Yang, Jimmy Zhang, Lady Xuelin Bates, the Prime Minister, Xu Weiping, Zhu Mingming
Chris Yang and David Cameron inspect a copy of the UKCBA’s Business Horizon magazine
Exhibition will give residents a say on Royal Albert Dock plans
A CGI shows the extent of the proposed development at Royal Albert Dock Kay Atwal, Chief ReporterWednesday, February 5, 2014 7:00 AM
An exhibition will unveil detailed plans for developing Royal Albert Dock and give Newham residents the chance to have their say.
A CGI shows the proposed development at Royal Albert Dock
They will go on display at Compressor House, Royal Docks, Dockside Road, Silvertown for three days from February 6.
Developer ABP’s vision is to create a vibrant hub for people to work and live and a new gateway to Europe for businesses from Asia. The proposals will also create up to 20,000 new jobs, a significant number of which will be available to local people.
For the first time, local people will be able to enjoy around 1km of waterfront, along with three new public squares, a dockside promenade and green links through the site.
Chairman of ABP, Xu Weiping, said: “These proposals are incredibly exciting and I am very proud that my company ABP is driving them forward. We look forward to meeting local people at the event and hearing their feedback on our plans.”
A planning application for the whole site and a detailed application for Phase 1 of the scheme will be submitted in Spring 2014. Subject to planning approval, construction could begin as early as 2015, with Phase 1 set for completion in 2018.
The exhibition will be open on February 6 from 2pm to 9pm, February 7 from 10am to 4pm February 8 from 10am to 4pm
The proposals can also be viewed on the community consultation website at www.royal-albert-dock.com
http://www.newhamrecorder.co.uk/news/exhibition_will_give_residents_a_say_on_royal_albert_dock_plans_1_32830 53
Further Plans for Royal Docks revealed by ABP Chairman Posted on 18 February, 2014 by Kirsten Kennedy
ABP chairman Xu Weiping has expressed his confidence in the Chinese company’s Royal Docks development which, he believes, will become a global business park.
Despite the fact that work is yet to begin in earnest, 57 companies have already registered an interest in taking up commercial space within the development and official estimates predict that a total of 20,000 jobs could be created in total when the project is completed. As a result of this high level of interest, Mr Xu has revealed that his firm is now considering expanding the horizons of the scheme in order to regenerate wider areas of East London. Exhibitions for the plans at the Royal Albert Dock are currently on show at Compressor House, but ABP is now in talks with local
authorities in Newham to lodge a further planning application which would allow the business hub to cover a greater area and create premises for a larger number of businesses. Speaking at the unveiling of the Royal Albert Dock exhibition, Mr Xu said; “We want to build the site far beyond the boundary of the current plans. “That’s what we want to see in east London and we’re fully confident we will get it done. “We want the community to support us and watch over us to make sure it will be done.” Despite the fact that many of the firms which have already expressed an interest in the business park come from China, Mr Xu was eager to emphasise that the site will not be solely available to Asian brands. He wishes to create a “global business park”, allowing a variety of different companies access to affordable commercial space, whether they be globally established or in the early stages of start-up. ABP’s extended plans have received the full support of Newham’s executive mayor, Sir Robin Wales, despite the fact that a number of development firms have submitted proposals for the area. This, he claims, is because ABP’s project is “moving along faster than the others”, allowing Newham to adequately capitalise on the advantages the Crossrail transportation scheme will bring to east London. However, he has called upon both the Government and London Mayor Boris Johnson to invest in local infrastructure, claiming that this will encourage an even larger number of firms to relocate to the area. He says; “This is going to create a lot of money and we need that money to be spent on transport in the area, not in other parts of London. “It doesn’t matter if it’s spent here or in places like Barking or Dagenham – as long as it’s east London. “Roads here will be under pressure as we develop and improved transport would create jobs and opportunities.” Do you think the Government should make the improvement of east London infrastructure a key investment priority?
http://www.movehut.co.uk/news/further-plans-for-royal-docks-revealed-by-abp-chairman-20031/
PWC pairs with ABP to launch Chinese investment service 4 February 2014 | By Rhiannon Bury
PWC and Chinese real estate developer ABP have signed a deal to provide services to help companies from China set up in the UK. The move is part of ABP’s programme to turn London’s Royal Albert Dock into a business hub for Asian companies, after it acquired the site in May 2013. The deal was ABP’s first foray into the UK market. It has been operating in its native China since 2003, developing business space across the country’s major cities. Through the agreement signed today, the partnership will provide back office services, tax advice and other services so companies can grow their businesses. APB will provide business premises, logistics and technical support as well as recruitment facilities, with PwC offering tax, accountancy and legal support. The agreement was signed today at PWC’s London headquarters at an event attended by ABP chairman Xu Weiping and the chairman of PWC UK’s China business group, Sir Tom Troubridge. The new service will be called First Stop London. Troubridge, said: “More and more Chinese firms are seeking a foothold in the UK and Europe. Our dedicated China team provides hands on, practical assistance to make it as pain-free as possible for Chinese companies to set up here and make inroads in the UK market. As the service develops, together with ABP we will seek to provide the reverse; assistance to companies looking to open offices in China.” Xu said: “First Stop London is being launched in response to the demand from companies in China. They are looking to expand and know that we have made the switch to the UK and so they have asked for our help and to draw upon our experience and with the connections we have in London, in Beijing, Shenyang and Qingdao and South Yangtze.”
http://www.propertyweek.com/news/pwc-pairs-with-abp-to-launch-chinese-investment-service/5065901.ar ticle
PwC to help Chinese firms move to Albert Docks business district CHINESE property developer ABP, which is set to overhaul London’s Royal Albert Docks into an Asian business district, yesterday struck a deal with PwC to help more Chinese firms settle there. PwC will offer tax, legal and accountancy support to companies coming to the UK as part of a so-called corporate “landing service” called First Stop London, run in conjunction with ABP. “More and more Chinese firms are seeking a foothold in the UK and Europe,” PwC’s China business group chairman Sir Tom Troubridge said. “Our dedicated China team provides hands on, practical assistance to make it as pain-free as possible for Chinese companies to set up here and make inroads in the UK market.” The move underscores the huge effort being made in the UK to entice more Chinese business investment into the capital. The Dock is set to be transformed as part of a £1bn upgrade to the site first announced by London mayor Boris Johnson last May. ABP is developing the site and the link-up with PwC has been driven by growing demand from Chinese firms seeking expertise on how to set up a business base in the UK. Ten Chinese firms have so far signed up to the site. ABP has appointed Stanhope as development manager on the project.
http://www.cityam.com/article/1391562192/pwc-help-chinese-firms-move-albert-docks -business-district#sthash.NrpA0CZe.dpuf
PwC UK signs agreement helping UK-China business 4 February 2014 by Ana Gyorkos PwC UK and Chinese real estate developer ABP have signed an agreement, which will see PwC helping Chinese companies set up in the UK. The agreement with ABP is based on the company's plan to turn a part of London, Royal Albert Dock, into a business hub for Asian businesses. The agreement means PwC UK will offer accounting, tax, HR and legal services to companies through a service called First Stop London, while ABP will provide business premises, logistics and technical support and recruitment facilities. Speaking at the signing ceremony PwC partner Sir Tom Troubridge emphasised the importance of Chinese investment and said the project will also bring many additional jobs to this particular area of London. ABP general manager Weiping Xu praised the good systems and processes the UK has and said the robust legal system and the services London and the UK can provide are the main attractions for Chinese companies and investment. "First Stop London is being launched in response to the demand from companies in China," he said. "We offer a professional and commercial approach to support enterprises through experienced First Stop London staff based in China and the UK. By working with PwC we can offer an all round service and support to companies wishing to locate overseas."
http://www.accountancyasia.com/news/pwc-uk-signs-agreement-helping-uk-china-business-4171648/
Dock developer paves way for others to step ashore in City A Chinese developer that came to the London property market with a proposal to redevelop Royal Albert Dock has joined forces with PwC to attract businesses to Britain. Advanced Business Park said yesterday that it had set up a joint venture with the consultancy group to provide services to Chinese companies wanting to open in the UK. It said that it was part of its plan to turn the dock into a “hub for businesses from Asia”. Last May ABP, which has not built anything outside China, committed to developing a £1 billion, two million sq ft business park on the north side of the Royal Albert Dock, near London City airport. Royal Albert is the biggest of the former docks and in the 19th century accommodated the world’s largest steam ships as they landed tea, spices and silk from the Far East. The dock fell into decline when container ports took over and the redundant site has been unused for decades. ABP has agreed to lease the land for ten years from the Greater London Authority, after which it has an option to buy the freehold. The group, which has developed Financial Harbour, a large scheme in Beijing, part of which is still unfinished, has admitted that it does not yet have the £1 billion needed to redevelop the dock. It has said that it plans to bring in international investors and borrow. ABP has hired Stanhope, a development manager, to carry out the scheme. Architects at Terry Farrell & Partners are designing the 35-acre site. The tie-up with PwC is part of ABP’s efforts to attract tenants to a scheme that it has dubbed “the new gateway to Europe for business from Asia”. The two groups said that they would provide services including back-office support and tax and legal advice on operating in Britain. ABP will offer business premises, logistics, technical support and recruitment facilities; PwC will provide tax, accountancy and legal support. The agreement was signed at PwC’s London headquarters yesterday at an event attended by Xu Weiping, the ABP chairman, and Sir Tom Troubridge, the chairman of PwC UK’s China business group. Sir Tom said: “More and more Chinese firms are seeking a foothold in the UK and Europe. Our dedicated China team provides hands-on practical assistance to make it as pain-free as possible for Chinese companies to set up here and make inroads in the UK market.” A Chinese developer that came to the London property market with a proposal to redevelop Royal Albert Dock has joined forces with PwC to attract businesses to Britain.
Advanced Business Park said yesterday that it had set up a joint venture with the consultancy group to provide services to Chinese companies wanting to open in the UK. It said that it was part of its plan to turn the dock into a “hub for businesses from Asia”. Last May ABP, which has not built anything outside China, committed to developing a £1 billion, two million sq ft business park on the north side of the Royal Albert Dock, near London City airport. Royal Albert is the biggest of the former docks and in the 19th century accommodated the world’s largest steam ships as they landed tea, spices and silk from the Far East. The dock fell into decline when container ports took over and the redundant site has been unused for decades. ABP has agreed to lease the land for ten years from the Greater London Authority, after which it has an option to buy the freehold. The group, which has developed Financial Harbour, a large scheme in Beijing, part of which is still unfinished, has admitted that it does not yet have the £1 billion needed to redevelop the dock. It has said that it plans to bring in international investors and borrow. ABP has hired Stanhope, a development manager, to carry out the scheme. Architects at Terry Farrell & Partners are designing the 35-acre site. The tie-up with PwC is part of ABP’s efforts to attract tenants to a scheme that it has dubbed “the new gateway to Europe for business from Asia”. The two groups said that they would provide services including back-office support and tax and legal advice on operating in Britain. ABP will offer business premises, logistics, technical support and recruitment facilities; PwC will provide tax, accountancy and legal support. The agreement was signed at PwC’s London headquarters yesterday at an event attended by Xu Weiping, the ABP chairman, and Sir Tom Troubridge, the chairman of PwC UK’s China business group. Sir Tom said: “More and more Chinese firms are seeking a foothold in the UK and Europe. Our dedicated China team provides hands-on practical assistance to make it as pain-free as possible for Chinese companies to set up here and make inroads in the UK market.”
http://www.thetimes.co.uk/tto/business/industries/construction-property/article3995942.ece
PwC in docks tie-up with ABP of China Accounting firm PwC has teamed up with Chinese property developer ABP to help turn the former Royal Albert Dock into a hub for Asian businesses setting up in the UK. Together they have created a one-stop shop, with ABP supplying premises, logistics and recruitment and PwC offering tax, accountancy and legal support. The ÂŁ1 billion transformation project was launched by Mayor Boris Johnson last May.
http://www.standard.co.uk/business/business-news/in-brief-better-worse-off-for-writed own-worries-st-modwen-boss-hits-out-at-ed-miliband-pwc-in-docks-tieup-with-abp-of-c hina-9106747.html
China's Royal Albert Dock Developer and PwC Sign Services Agreement Agreement to provide services for incoming Asian companies will smoothe the path for London to become a gateway for Chinese businesses. Posted on 05 February 2014 by Syed Shah
The British Government’s goal of making London a hub for Chinese investment received a further boost today after accountancy firm PwC signed an agreement with Chinese real estate developer ABP which will smoothe the path for Asian companies to relocate in the capital. ABP is already working on a £1bn plan to transform London’s Royal Albert Docks into a European headquarters for hundreds of Chinese firms. PwC announced on Tuesday a tie-up with ABP to create a one-stop-shop for services for Chinese businesses that want to relocate to the docklands development. The agreement will see APB provide business premises, recruitment facilities and logistics while PwC will offer tax, accountancy and legal support to companies as part of a “corporate landing service”, which will be called First Stop London. “First Stop London is being launched in response to the demand from companies in China,” ABP’s chairman Xu Weiping said.
http://www.logasiamag.com/article/china-royal-albert-dock-developer-and-pwc-sign-services-agreeme nt/3784