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Article: A decade after Tiananmen, New World reaps benefits.
- Article from:
- Business Asia
- Article date:
- June 14, 1999
CopyrightCOPYRIGHT 1999 First Charlton Communications Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New World Development Ltd, 10 years after a bold move into China, is reaping big rewards from its support for Beijing after the Tiananmen Square crackdown, but finds the investment environment is changing significantly.
"For the next 10 years, the rules of the game will be very much different," said Mr Douglas Chan, managing director of New World Development (China) Ltd. "Firstly, people that didn't share our belief 10 years ago are now to a certain extent more aggressive than we are," Mr Chan said.
Another big difference is the greater availability of investment capital, particularly for domestic companies.
"In the last 10 years we have seen ...