Sunday, November 27, 2011

Icelandic government refused invested enterprises in China's land purchase program

冰岛政府拒绝中国投资企业提出的土地购买计划。Beijing – Responding to the Iceland government's rejection of his land-buying plan, Zhongkun Investment Group chairman Huang Nubo told China Daily on Saturday morning that the decision was "cursory and irresponsible".
"The denial reflects the unjust and parochial investing environment facing private Chinese enterprises abroad," Huang said at his Beijing company headquarters in an exclusive interview. He said the decision was a loss for both Iceland, and Chinese investors.
Huang's $200 million investment plan was to buy 300 square kilometers of land in northeast Iceland for a resort project. The project was initiated by the Icelandic landowners themselves, Huang said.
He received news of the rejection by the Icelandic Internal Affairs Ministry at 4 am on Saturday, and said he had no prior requests to communicate with them before the announcement.
Although he said his Zhangkun investment group had nothing to lose even if the proposal was rejected, Huang felt it was significant in that it highlighted the prejudice faced by Chinese investors abroad.
"There are still double standards," he said. Countries in the West are eager to "encourage the opening of the Chinese market while closing their own doors to Chinese investments."
Huang warned fellow entrepreneurs from China of the risks in Europe. Before going into the global market, he said, they should make sure they fully understand the political environment or risk being caught between divergences of conflicting political powers.
"The so-called political stability for foreign investments is not like what we think we know, and what they preach," he said.
Huang said he would divert his investments to projects in the United States, and other Nordic countries like Sweden and Finland.
Read the full exclusive interview on China Daily Sunday.