Competition – Beijing might walk away with Universal Studio’s

 

Beijing is trying to catch the Universal Studio project after Shanghai was forced to halt construction, because the central government did not give the needed permission, The Standard from Hong Kong reports today. They have noted the story again in the Economic Observer weekly, but could not get independent confirmation of the new twist in the ongoing drama. “Quoting senior management of Beijing Holdings, the newspaper said the central government's decision was influenced in part by Beijing's hosting of China's first-ever Olympic Games in 2008. Efforts to reach Beijing Holdings and Universal Studios were unsuccessfull,” writes The Standard. “’Currently, there is some change in the situation'’ on the project, Chen Yongping of Jinjiang's strategic planning office was quoted by the newspaper as saying on Thursday. Chen did not elaborate. He said the Shanghai municipal government will give an update in the next two weeks.”