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Chinese ambitions for London's derelict docks

Xu Weiping plans to turn Royal Albert Dock into trading hub for Chinese firms

[LONDON] Known for ambitious plans in China for business parks the size of cities, Xu Weiping has said that he cannot wait to start work on his first project abroad: turning an abandoned London shipyard into Europe's main hub for Chinese companies.

"I'm a man with a vision and the ability to turn my dream into reality," he said.

Last year, Mr Xu agreed to invest US$1.6 billion to turn London's derelict Royal Albert Dock back into a vibrant global trading hub. But instead of ships, he is betting on Chinese companies that are seeking a foothold in Europe.

Mr Xu said that more than 60 Chinese businesses, many already tenants of his empire in China, have signed up to take space in the development, about...

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