Voice Of Post

China Minsheng, ABP to Invest $1.5 Billion in London Project, China Minsheng Investment Co, a private investment company with $8 billion of capital, plans to invest with ABP (China) Holding Group 1 billion pounds ($1.5 billion) to build a financial complex in London.

Minsheng will provide the majority of the investment, the company said at a press conference today in Shanghai. Beijing-based ABP had said earlier it will build a business port at Royal Albert Docks that will create 20,000 jobs and generate 6 billion pounds to the London economy.

Shanghai-based Minsheng Investment, funded by some of China’s biggest private firms, has accelerated acquisitions and investments during the past three months. The company on Nov. 18 bought a plot of land in Shanghai for 24.9 billion yuan ($4 billion) with two other investors, while six days later it acquired business-jet charter operators Minsheng International Jet Co. and Asia United Business Aviation Ltd.

Minsheng Investment was founded in May by 59 privately owned companies including China Oceanwide Holding Group Co., Kechuang Group and Suning Commerce Group Co. Dong Wenbiao, former chairman of China Minsheng Banking Corp., is the chairman.