Chinese ambitions for London's derelict docks

[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 14.5 km east of London's city centre. Con…