(MENAFN) A Chinese investment firm has announced it is to invest USD1.5 billion in a homegrown development project to create a third financial district in east London, The Telegraph reported.
China Minsheng Investment Corp Ltd will join Chinese developer Advanced Business Park (ABP) on the project that is looking to transform the historic Royal Albert Dock into a business and finance hub.
The scheme is one of the largest Chinese investments in the UK in recent years. It will act as a gateway for the nation's firms seeking to invest overseas and enable Docklands to rival Canary Wharf and the City of London.
"The investment is a strategically important beginning for our exploration in the European market. We will work with global companies to bolster Chinese firms' global drive," Minsheng's CEO said.
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