Morning brief news: A morning of ShanghaiTop officials from Singapore and Shanghai declared the inauguration of the largest Singapore solely invested project in Shanghai. And Shanghai GM has a new price list for its Buick line. Singapore-funded flagship project kicked off in ShanghaiA grand inauguration ceremony was held on May 16 in Shanghai for the Raffles City, a shopping and office complex, a flagship project of CapitaLand, a solely funded subsidiary of Singapore based CapitaLand, one of the largest listed property companies in Asia. Visiting Singaporean Prime Minister Lee Hsien Loong and Deputy Mayor of Shanghai were at the ceremony.The Raffels City is opposite to Shanghai Renmin Square. It holds a 40,000 sqm 8-storeyed shopping mall and a 200 high 51-storeyed smart office building with an area of 87,000 sqm. Shanghai Huaqing Real Estate Company Limited is the developer. Major investors include CapitaLand China, Sino Land, Government of Singapore Investment Corporation, Temasek, and a company called Grand Bright or Daguangming in Shanghai. With an investment totaling 350 million USD (about 2.9 billion yuan), the project is the biggest one solely funded by Singapore in Shanghai. New pricing strategy for BuickShanghai GM launched its strategic campaign of Buick Breakthrough 2005 on May 17 to gear down the prices of its Buick Regal and GL8 by 8 percent on average with the biggest decline touching 11 percent.Another move of Shanghai GM at this time is to make it Buick Excelle 1.6L and 1.8L, as comfortable versions in its Excelle line available in the market, at a price of 129,800 yuan and 159,800 yuan respectively. This, plus the new prices for its Sail 2004, marks Shanghai GM successfully carried out a sweeping adjustment on pricing of Buick family. Shanghai GM achieved a sale increase by 117 percent for the first four month of this year and its market share grew to 11.5 percent from 9.8 percent at the end of 2003. By People's Daily Online |
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