No politics in Iceland project, tycoon claims
Source: Xinhua |
September 1, 2011, Thursday
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Print Edition
Print Edition
BEIJING-BASED Zhongkun Group Chairman Huang Nubo yesterday said his company's plan to build a resort in Iceland was purely commercial, after opponents claimed it could be a political move.
Zhongkun, a private real estate company founded in 1995, plans to spend US$200 million buying 300 square kilometers of land in Iceland and building a luxury resort, including hotel, golf course and areas for outdoor activities, Huang said.
Huang, who already owns several real estate projects in China and the US, said he was interested in Iceland for its tourism potential - although the project may not make an immediate profit, the beautiful landscape and natural environment could attract global travelers.
This week the UK's Financial Times quoted opponents as saying it could provide a cover for China's geopolitical interests, pointing out Huang's previous employment as a government official.
Huang said: "The project is a purely commercial move and has no connection with politics. The concerns are groundless. I believe the project will benefit both my company and locals."
He confirmed he used to work for the Publicity Department of the Communist Party of China's Central Committee and the Ministry of Construction until the early 1990s.
"I was an ordinary official then and quit the government jobs a long time ago. It is absurd to draw the conclusion that my company has government support," he said.
Besides business motives, Huang has a personal connection to Iceland. He used to share a room with an Icelandic student visiting Peking University in the 1970s and they became friends.
Last year Huang spent US$1 million dollars establishing a foundation to support exchanges between Chinese and Icelandic poets. It sponsored the first Chinese-Icelandic poetry festival.
Huang said: "I first visited Iceland when I traveled there to attend the festival. Its landscape impressed me very much and local business people said they were interested in attracting Chinese investment."
The land deal has been agreed between Huang's company and the landowners but needs the government approval from Iceland.
The investment project should also be approved by the Chinese government.
As the land includes one of the biggest glaciers in Iceland, Huang has promised to give up rights to exploit water resources and plans to establish an expert team to evaluate the project's environmental impact.
Mei Xinyu, of the Chinese Academy of International Trade and Economic Cooperation, said some people in the West have not changed their Cold War mindset and regarded China as a new challenger.
He said: "It will take time for other countries to understand that Chinese investment will play a positive role."
Zhongkun, a private real estate company founded in 1995, plans to spend US$200 million buying 300 square kilometers of land in Iceland and building a luxury resort, including hotel, golf course and areas for outdoor activities, Huang said.
Huang, who already owns several real estate projects in China and the US, said he was interested in Iceland for its tourism potential - although the project may not make an immediate profit, the beautiful landscape and natural environment could attract global travelers.
This week the UK's Financial Times quoted opponents as saying it could provide a cover for China's geopolitical interests, pointing out Huang's previous employment as a government official.
Huang said: "The project is a purely commercial move and has no connection with politics. The concerns are groundless. I believe the project will benefit both my company and locals."
He confirmed he used to work for the Publicity Department of the Communist Party of China's Central Committee and the Ministry of Construction until the early 1990s.
"I was an ordinary official then and quit the government jobs a long time ago. It is absurd to draw the conclusion that my company has government support," he said.
Besides business motives, Huang has a personal connection to Iceland. He used to share a room with an Icelandic student visiting Peking University in the 1970s and they became friends.
Last year Huang spent US$1 million dollars establishing a foundation to support exchanges between Chinese and Icelandic poets. It sponsored the first Chinese-Icelandic poetry festival.
Huang said: "I first visited Iceland when I traveled there to attend the festival. Its landscape impressed me very much and local business people said they were interested in attracting Chinese investment."
The land deal has been agreed between Huang's company and the landowners but needs the government approval from Iceland.
The investment project should also be approved by the Chinese government.
As the land includes one of the biggest glaciers in Iceland, Huang has promised to give up rights to exploit water resources and plans to establish an expert team to evaluate the project's environmental impact.
Mei Xinyu, of the Chinese Academy of International Trade and Economic Cooperation, said some people in the West have not changed their Cold War mindset and regarded China as a new challenger.
He said: "It will take time for other countries to understand that Chinese investment will play a positive role."
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