Tag Archives: china

Trump: China concurs NKorea nuclear weapon freeze inadequate

Wednesday, Nov. 15, 2017|4:10 p.m.

WASHINGTON– President Donald Trump said Wednesday that the U.S. and China agree that North Korea can not simply freeze its nuclear weapons program in exchange for concessions and that it should eliminate its arsenal.

Trump was reiterating a long-standing U.S. position but recommended that China now concurred with Washington that a “freeze-for-freeze” contract was undesirable.

China and Russia have actually proposed that as a way to reboot long-stalled negotiations: that the North might freeze its nuclear and rocket programs in exchange for the United States and its close ally South Korea stopping regular military drills that Pyongyang considers as preparation for intrusion.

China has not made a public disavowal of the proposition. China said Wednesday that it would send a top-level unique envoy to North Korea amid an extended chill in relations between the neighbors.

Trump was speaking a day after he returned from a 12-day journey through Asia that consisted of a state visit to China, where he was hosted by President Xi Jinping.

“President Xi acknowledges that a nuclear North Korea is a serious risk to China, and we agreed that we would not accept a so-called freeze for freeze contract, like those that have actually consistently failed in the past,” Trump stated.

He stated that Xi promised to carry out U.N. sanctions that aim to deprive North Korea of revenues for its weapons programs “and to utilize his excellent economic impact over the regime to achieve our common objective of a denuclearized Korean Peninsula.”

China is North Korea’s conventional ally and represent about 90 percent of the separated country’s external trade– including practically all its oil products.

Speaking at the White House, Trump cast his Asian sojourn as a “remarkable success,” saying the United States was feted by foreign leaders and asserted its strength on the planet.

“America’s restored confidence and standing worldwide has never ever been stronger than it is right now,” Trump stated, detailing his drop in Japan, South Korea, China, Vietnam and the Philippines.

Trump stated he had three objectives on the journey: to unite the world versus North Korea’s nuclear ambitions, to enhance alliances in the region and to demand “fair and mutual trade.”

Trump promised to work “as quick as possible” to eliminate sizable trade deficits with U.S. trading partners. He said it was “unacceptable” that the U.S. trade deficit with other nations stands at about $800 billion a year and guaranteed to “begin whittling that down as quick as possible.” He did not say how he prepared to accomplish that objective.

Previously, Trump used social media to spar with media coverage of his journey.

He tweeted criticism at The New york city Times. He said the paper “dislikes” that he has excellent relationships with world leaders and “they should realize that these relationships are a good thing, not a bad thing.” He called the paper “naive (or dumb)” on diplomacy.

The president likewise tweeted Wednesday that he was “required” to view CNN throughout the trip and “again realized how bad, and FAKE, it is.”

Associated Press author Catherine Lucey contributed to this report.

3 UCLA players face penalty in your home after China incident

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AP UCLA basketball gamers Liangelo Ball, left, and Cody Riley are shown in these file photos.

Tuesday, Nov. 14, 2017|6:35 p.m.

LOS ANGELES– 3 UCLA basketball players apprehended in China on suspicion of shoplifting returned home, where they may be disciplined by the school as an outcome of the global scandal.

Freshmen LiAngelo Ball, Jalen Hill and Cody Riley reached Los Angeles International Airport late Tuesday afternoon after a 12-hour flight from Shanghai.

Pac-12 Commissioner Larry Scott stated the matter “has actually been solved to the complete satisfaction of the Chinese authorities.”

The players were apprehended in Hangzhou for questioning following allegations of shoplifting recently prior to the 23rd-ranked Bruins beat Georgia Tech in their season-opening video game in Shanghai as part of the Pac-12 China game. The remainder of the UCLA team returned home last Saturday.

A person with knowledge of the Pac-12’s decision stated any discipline including the trio would be up to UCLA. The individual spoke with The Associated Press on condition of anonymity due to the fact that the conference doesn’t prepare any sanctions.

UCLA Chancellor Gene Block stated the school is weighing its alternatives.

“I wish to be clear that we take seriously any infractions of the law,” he said in a statement. “In this particular case, both Athletics and the Workplace of Student Conduct will examine this occurrence and guide any action with respect to the included trainees. Such procedures are confidential, which limits the particular details that can be shared.”

There was no immediate word on the trio’s status for the team’s home opener Wednesday night against Central Arkansas.

The school said the three players, together with coach Steve Alford and athletic director Dan Guerrero, will make their very first public remarks about the matter at a campus press conference Wednesday, but will not take concerns.

Scott thanked President Donald Trump, the White Home and the State Department for their efforts in resolving what he called “the occurrence with authorities in Hangzhou, China.” He showed that UCLA made “substantial efforts” on behalf of its professional athletes.

It wasn’t clear under exactly what terms the gamers were freed to go back to the United States

“We are all extremely delighted that these boys have been permitted to return the home of their households and university,” Scott stated.

Trump stated Tuesday he had a long discussion about the 3 players’ status with Chinese equivalent Xi Jinping.

Ball, Hill and Riley were anticipated to have an immediate impact as part of UCLA’s extremely touted recruiting class. Rather, they are being talked about entirely for their actions off the court.

Ball, a guard whose sibling Lonzo is a rookie for the Los Angeles Lakers, averaged 33.8 points as a high school senior. The elder Ball played one season in Westwood and left early for the NBA draft.

The Balls’ outspoken father, LaVar, was in China at the time of the occurrence. He invested a long time promoting the family’s Big Baller Brand of athletic shoes with his youngest kid, LaMelo, while his middle son was detained.

Forwards Hill and Riley, both four-star employees, figure to strengthen 7-foot senior Thomas Welsh in the frontcourt.

The Bruins took a trip to China as part of the Pac-12’s worldwide effort that seeks to popularize the league’s athletic programs and universities overseas. The China Game remains in its third year, and while the scandal was developing the league revealed that California and Yale will play in next year’s edition.

The video game is sponsored by Alibaba Group, the Chinese commerce giant that both UCLA and Georgia Tech checked out before the shoplifting incident happened.

ElmTree Funds Taps China Life for $950 Million Recap of Net Lease Portfolio

ElmTree Funds net leased tenant roster.
ElmTree Funds net leased renter roster. ElmTree Funds LLC, a personal equity real estate firm based in St. Louis, announced it has secured a $950 million recapitalization of among its net lease portfolios with a wholly-owned subsidiary of China Life Insurance coverage Group, the largest financial insurer in China.

The JV will initially own 48 single-tenant industrial, workplace and health care properties amounting to more than 5.5 million square feet. China Life will supposedly obtain a 95% interest in the properties with ElmTree maintaining 5%.

ElmTree Funds said most of the properties are just recently built, build-to-suit jobs mainly leased to investment-grade tenants and located in secondary and tertiary markets that display strong long-term financial and group basics.

“This transaction provides China Life immediate scale and diversification in the United States market. We anticipate an extremely efficient, long-term relationship with China Life as we explore extra chances to invest together,” stated Jim Koman, managing principal at ElmTree Funds.

Under the agreement, China Life has the choice to purchase 2 extra single-tenant net lease residential or commercial properties from ElmTree Web Lease Fund II, a fund formed in 2012. ElmTree launched its third net lease fund last October.

ElmTree Funds will continue to act as asset supervisor of the portfolio and utilize a core/core-plus financial investment technique.

Hodes Weill Securities, LLC, a worldwide real estate advisory shop, functioned as the exclusive monetary consultant to ElmTree Funds.

China rappers to Seoul: '' Huge bro ' opposes missile guard

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AP In this undated image made from video, members of CD REV chant about THAAD, the United States Army’s rocket defense system officially called Terminal High Elevation Area Defense. A rap group backed by China’s government is alerting South Korea in a video that “you’re going too far” with the deployment of a U.S. rocket defense system, as Beijing seeks to bring its state-supported cultural forces to bear in the international conflict.

Thursday, May 18, 2017|4:13 p.m.

BEIJING– A rap group backed by China’s federal government is alerting South Korea in a music video that “you’re going too far” with the implementation of a U.S. rocket defense system, as Beijing seeks to bring its state-supported cultural forces to bear in the worldwide conflict.

A member of the group CD REV said government authorities worked with them on the video and helped to promote it on foreign sites, much of which are blocked in China by main censors emboldened by the ruling Communist Party’s warnings against foreign “cultural seepage.”

In the song, group members chant that “about THAAD we state no, no, no,” a referral to the U.S. Army’s missile defense system formally called Terminal High Elevation Location Defense.

Later in the song, they refer to South Korea, saying, “this time, kid, you’re going too far” and “your big bro’s frustrated,” a nod to China’s view of itself as the pre-eminent political and economic power in northeast Asia.

Beijing vehemently opposes the rocket guard, saying its powerful radar will permit it to keep an eye on rocket launches, aircraft flights and other sensitive activities in northeastern China. South Korea and the United States say it is essential to guard against North Korea’s missile and nuclear weapons activities that threaten South Korea, Japan, U.S. areas and perhaps even the continental United States.

CD REV’s Wang Zixin informed The Associated Press that the group wants to rally Chinese around the world versus the release of THAAD and show China’s “hard stance” on the issue.

“We would see government reports and comments, but at the very same time, we see the entire event from the position of Chinese,” Wang said.

In the video, the group also takes chance ats exactly what Wang referred to as “vulgar behavior” within China, such as vandalism against South Korean-made Hyundai automobiles.

The video– viewed by Wednesday more than 300,000 times on Facebook and Twitter and practically 2.7 million times on the Chinese video-posting website Maiopai– represents the current example of China’s use of non-diplomatic channels to transmit its annoyance with South Korea.

In 2015, there were reports that China had stopped giving approval to entertainers of Korean pop music, or “K-pop,” to play programs in China, on the heels of Seoul signing the arrangement to host THAAD. In March, South Korean officials voiced issues that Beijing was limiting tourism to their nation as an informal sanction.

South Korean merchant Lotte, which supplied the land for the THAAD release, has also been boycotted by Chinese consumers and seen building and construction stopped on an amusement park it was building in northeastern China.

Such moves highlight a desire on the part of China’s Communist Party leaders to fan the flames of anti-South Korea sentiment, stated Korea professional Sung-Yoon Lee of Tufts University in Massachusetts.

“THAAD retaliation is a Chinese government-engineered task,” Lee stated. “It can be managed and reversed by Beijing. … The Chinese public has no interest in the intricacies of rocket defense systems.”

South Korea’s foreign ministry did not right away react to questions about the song, and the video did not appear to gather much attention on the nation’s social networks platforms.

During a phone call with Chinese President Xi Jinping recently, South Korea’s brand-new president, Moon Jae-in, said he was aware of Chinese worries about THAAD and asked Xi to help solve difficulties facing South Korean companies running in China.

An unique envoy representing Moon is due to check out China on Thursday for talks on THAAD and the overall bilateral relationship.

Update: China’s HNA Group Completes $2.2 Billion Purchase of 245 Park Ave.

China-based HNA Group and its concealed partners have actually closed on their $2.21 billion purchase of 245 Park Ave. in Manhattan from a joint endeavor of Brookfield Property Partners and the New York State’s Teachers Retirement System.

Coming soon will be the issuance of a $500 million CMBS deal backed by HNA’s purchase financing of the 1.6 million-square-foot home.

Ernst & & Young LLP has actually completed due diligence for J.P. Morgan Chase Commercial Home loan Securities Corp. in examining the accuracy of info backing securitization.

JPMorgan Chase Bank will be the lead lender on $1.6 billion in brand-new financing with involvement by Natixis Realty Capital, Barclays Bank, German American Capital Corp., Deutsche Bank, and Société Générale.

The CMBS funding belongs to a split loan structure consisting of 14 other fixed-rate, interest-only loans. The mortgage loan has three associated set rate mezzanine loans that will not be assets of the CMBS.

The deal with HNA values the property at about $1,380 per square foot. It is likewise a sign of foreign financiers’ continued desire to make huge bets on New York’s trophy home, according to Avison &&.

NYSTR’s obtained its 49% interest in the property in September 2003 for $438 million, giving the home an overall value then of about $849 million or about $530/square foot.

The sale is part of Brookfield Residential or commercial property Partners efforts to raise as much as $2 billion of net equity from possession sales in 2017 after raising $3 billion from sales in 2015, Brian Kingston, CEO of Brookfield Residential or commercial property Partners wrote in a shareholder letter last week.

“Our premier, well-leased properties in core markets continue to attract interest from worldwide investors seeking stable, bond-like yields,” Kingston said. “We will redeploy the capital raised from these sales to money the ongoing advancement of our 7 million-square-foot Manhattan West task in the Hudson Yards district on the west side, along with our other development jobs around the globe.”

The sale will create net profits to Brookfield of over $650 million.

“While a trophy possession in the much-sought-after Grand Central passage that commands some of the greatest leas in New york city, we felt the capital could be released elsewhere at higher returns,” Kingston said. “In addition, Brookfield’s earlier-generation personal realty funds have started harvesting capital through realizations of growing financial investments. During the quarter, these funds returned around $239 million of capital to BPY. As we have discussed in the past, our capital commitments to future opportunistic funds will be mostly funded through realizations from predecessor funds, which must continue to ramp up sequentially as the investment horizons within these funds draw near.”

China’s HNA Group’s $2.2 Billion Purchase of 245 Park Ave. Nearing Closing

The last pieces of the pending $2.2 billion sale of 245 Park Ave. in Manhattan are forming.

Ernst & & Young LLP has actually finished due diligence for J.P. Morgan Chase Commercial Home loan Securities Corp. in assessing the accuracy of info backing securitization of the major portion of funding that will fund the HNA-led investment group’s purchase of the 1.6 million-square-foot residential or commercial property.

JPMorgan Chase Bank will be the lead lender on a reported $1.75 billion in financing with involvement by Natixis Realty Capital, Barclays Bank, German American Capital Corp., Deutsche Bank, and Société Générale.

The CMBS financing becomes part of a split loan structure including 14 other fixed-rate, interest-only loans. The home loan has three associated set rate mezzanine loans that will not be assets of the CMBS.

China-based HNA Group and its undisclosed partners are purchasing the tower from a joint endeavor of Brookfield Home Partners and the New york city State’s Educators Retirement System. NYSTR’s gotten its 49% interest in the residential or commercial property in September 2003 for $438 million, giving the property an overall value then of about $849 million or about $530/square foot.

The deal with HNA values the home at about $1,300 per square foot, and is a sign of foreign investors’ continued desire to make huge bets on New York’s trophy residential or commercial property, inning accordance with Avison & & Young.

The sale belongs to Brookfield Residential or commercial property Partners efforts to raise as much as $2 billion of net equity from asset sales in 2017 after raising $3 billion from sales in 2015, Brian Kingston, CEO of Brookfield Property Partners composed in an investor letter last week.

“Our leading, well-leased residential or commercial properties in core markets continue to attract interest from worldwide investors looking for steady, bond-like yields,” Kingston said. “We will redeploy the capital raised from these sales to fund the continued advancement of our 7 million-square-foot Manhattan West job in the Hudson Yards district on the west side, as well as our other development tasks around the world.”

The sale will generate net profits to Brookfield of over $650 million.

“While a prize possession in the much-sought-after Grand Central corridor that commands a few of the highest leas in New York, we felt the capital could be deployed elsewhere at higher returns,” Kingston stated. “In addition, Brookfield’s earlier-generation personal property funds have actually started harvesting capital through awareness of growing financial investments. Throughout the quarter, these funds returned around $239 million of capital to BPY. As we have discussed in the past, our capital dedications to future opportunistic funds will be mainly funded through realizations from predecessor funds, which must continue to ramp up sequentially as the investment horizons within these funds draw near.”

Trump: North Korea '' disrespected ' China with missile test

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Andrew Harnik/ AP President Donald Trump strolls across the South Lawn as he reaches the White Home in Washington, Friday, April 28, 2017, returning from traveling to Atlanta to speak at the National Rifle Association Leadership Forum.

Friday, April 28, 2017|7:22 p.m.

WASHINGTON– President Donald Trump said Friday that North Korea had “disrespected” China by attempting to launch another ballistic missile.

Trump has stated he is depending on Chinese President Xi Jinping to motivate North Korea to give up its pursuit of ballistic rocket and nuclear weapons programs. Trump has also stated he believes Xi will do the ideal thing. China is North Korea’s benefactor.

However Trump has likewise threatened to go it alone if Xi fails to deliver.

South Korea’s military stated Friday afternoon that North Korea had fired the missile from an area near the capital of Pyongyang, however offered no information.

U.S. and South Korean officials stated the launch apparently failed, with the missile breaking apart a few minutes after launch.

Trump did not respond to press reporters’ concerns about the missile launch as he went into the White Home after he returned from a daytrip to Atlanta. Soon afterward, press secretary Sean Spicer stated the White House was aware of the launch and Trump had actually been briefed on it.

Trump apparently reserved his comment about the launch for Twitter, composing on the social networks site: “North Korea disrespected the dreams of China & & its highly respected President when it introduced, though unsuccessfully, a rocket today. Bad!”

Trump has threatened North Korea with military action if it continues establishing nuclear and ballistic rocket programs. But he has likewise stated he would choose to resolve the problem through diplomacy.

Hours prior to the launch, Secretary of State Rex Tillerson chaired a U.N. Security Council meeting committed to the North Korea issue and required new sanctions against Pyongyang. Tillerson also urged other nations to exert pressure on North Korea.

Chinese Foreign Minister Wang Yi stated his country would stick to previous U.N. resolutions and desires a denuclearized Korean peninsula, however defined no more punitive actions his government may think about– regardless of Tillerson’s assertions in an interview hours ahead of the council meeting that Beijing would impose sanctions of its own if North Korea carries out another nuclear test.

Sandoval heads to China on trade mission

Wednesday, Oct. 14, 2015|11:30 p.m.

Carson City–.

Gov. Brian Sandoval left Wednesday for a 10-day economic advancement trade mission to China.

The guv was accompanied by his personnel, lawmakers from other states, economic development executives and the Desert Research study Institute.

The trip is financed partially by the Council of State Federal governments and the Guv’s Office of Economic Advancement. There was no instant quote of just how much the state will chip in.

The group will check out Xi’an, Nanjing, Shanghai and Beijing. It will concentrate on tempting ecological sciences and tech commercialization.

The guv led a trade objective to China on 2012. There have actually not been any reports of Chinese companies relocating to Nevada as a result of that trip.

Accompanying the guv are his Chief Method Officer Dale Erquiaga, Economic Advancement Director Steve Hillside and Desert Research study Institute President Stephen Wells. There are also 3 personnel from the state.

He returns Oct. 25.

Investment treaty in between China and U.S. key business goal

Wednesday, Sept. 23, 2015|12:19 a.m.

SEATTLE– When Chinese President Xi Jinping addresses a meeting of a few of the top names in Chinese and American business Wednesday, they may be most interested exactly what he states about development towards a treaty between the countries that would supply a framework for wider investment in each other’s economy.

Apple President Tim Cook, Microsoft’s Satya Nadella, Amazon’s Jeff Bezos, financier Warren Buffett and Jack Ma of Chinese e-commerce giant Alibaba are amongst the 30 magnates participating in a closed-door discussion being moderated by previous U.S. Treasury Secretary Henry Paulson, who has promoted for such a treaty. All the American CEOs getting involved signed a letter to Xi and U.S. President Barack Obama urging them to support a contract.

Bilateral financial investment treaties supply the guidelines of the roadway for business doing company in other countries, and can help guarantee that the rights of foreign investors are safeguarded which international companies run on a level playing field with domestic ones. An arrangement with China would launch more of that country’s enormous market to American business, supply clearer guidelines for Chinese investment in the united state, and produce jobs on both sides, fans state.

Such treaties “can be an effective driver for more financial growth,” Evan Feigenbaum, vice chairman of the Paulson Institute, which is co-hosting Wednesday’s conference, said Tuesday.

Xi arrived in Seattle Tuesday for a three-day see before he takes a trip to the White Residence later on this week. He’s anticipated to make quick remarks to the attendees before the session near the press.

Notable absences at Wednesday’s business conversation were agents from Twitter, Facebook and Google. Those companies’ sites are blocked in China.

Throughout a speech Tuesday evening Xi spoke about a range of concerns, consisting of the need for a bilateral financial investment offer.

Early this summer, U.S. Treasury Jacob Lew noted that the two sides had a long way to go in working out a bilateral investment treaty, but had actually agreed to narrow their respective lists of sectors that would be exempted from international financial investment by this month.

At his policy speech Tuesday evening– participated in by dignitaries like previous U.S. Secretary of State Henry Kissinger, previous U.S. Treasury Secretary Hank Paulson and Cent Pritzker, Obama’s commerce secretary– Xi said China and the United States could interact to address cybercrimes, an issue that has actually triggered shared tension.

Xi likewise said China would continue its policy of aggressive development to help more Chinese individuals “live a much better life.”

Striking agreements to ensure continued robust international trade was a top concern, he stated. “China will never close its open door to the outdoors world,” Xi stated, according to a translation of his statements.

He stated China was a strong defender of cyber security, however it had also been a victim of hacking.

Acknowledging that China and the United States do not constantly see eye to eye, Xi stated China is ready to establish a joint effort with the United States to eliminate cybercrimes.

The concern of cyberattacks is a sensitive one in between the two countries. American authorities state hacking attacks originating from China are approaching epidemic levels.

As Xi spoke Tuesday night, protesters gathered near the downtown hotel he was remaining at, challenging things like the nation’s policies in Tibet.

Earlier Tuesday, meetings with guvs from five U.S. states and regional Chinese authorities produced the deal to deal with clean energy.

“We can be the core for our national leaders to gain from,” Michigan Gov. Rick Snyder, who has actually made 5 journeys to China in five years, informed his equivalents.

Xi’s see comes a year after Xi and Obama announced their nations would comply to fight climate change.

“These are the largest economies worldwide, and we’re the greatest emitters of greenhouse gases, so enhancing cooperation and partnership is really a need,” stated Brian Young, Washington state director of financial development for the clean technology sector. “Second, it’s a huge company opportunity. Both sides recognize the chance for task creation.”

China invested a record $83 billion in renewable energy last year, according to the Frankfurt School’s Center for Climate and Sustainable Energy Finance in Germany.

The guvs who met Xi consisted of Snyder, Jay Inslee of Washington, Jerry Brown of California, Terry Branstad of Iowa and Kate Brown of Oregon. All 5– along with Nevada Gov. Brian Sandoval, who did not participate in the meeting– signed an accord in which they agreed act to decrease transportation emissions, support clean energy technologies and exchange ideas.

Chinese leaders at the meeting included Beijing Mayor Wang Anshun and others.

Xi had a hectic schedule planned for Wednesday. Including his meeting with business leaders, he was to visit the Boeing and Microsoft schools and go to a high school south of Seattle in Tacoma.

Universal signs handle China to open Beijing theme park

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Jae C. Hong/ AP

Universal Studios in Universal City, Calif., on Thursday, Dec. 3, 2009, near Los Angeles.

Tuesday, Sept. 15, 2015|12:10 a.m.

BEIJING– Universal Studios has actually signed a deal with a Chinese state-owned consortium to develop a Hollywood amusement park in Beijing to open in 2019, state media reported Tuesday.

A signing ceremony for the joint venture took place Sunday at the New york city headquarters of Comcast NBCUniversal, which possesses Universal Studios Hollywood.

Universal Parks & & Resorts, a Comcast device, is partnering with Beijing Shouhuan Cultural Tourism Investment Co. Ltd., a consortium of 4 state-owned companies, to purchase and operate the task.

China’s Cabinet and nationwide financial planning firm authorized the amusement park task– 13 years in the making– in September in 2013.

It will certainly be Universal’s third theme park in Asia, after Singapore and Osaka, Japan. The park, a home entertainment complex and the first-ever Universal-branded hotel will certainly inhabit a 120-hectare (300-acre) site in Tongzhou district in Beijing’s east. A second phase would involve another theme park, a water park and an additional five resort hotels, according to state media. Universal has stated the resort will eventually encompass 400 hectares (1,000 acres).

Financial investment in the job is supposedly more than 50 billion yuan ($8 billion), including the expansion of a train line.

As U.S. and European theme park see flattening or decreasing attendance, home entertainment companies are betting on China to drive growth.

The Walt Disney Co. is building a $5.5 billion amusement park resort consisting of hotels and a theater in Shanghai, expected to open in spring 2016.

In 2017, Dreamworks Animation SKG Inc. and Chinese partners are anticipated to complete a $2.4 billion home entertainment complex in Shanghai, including bars, dining establishments and efficiency places. It will certainly also showcase a “Dream Opportunity” theater district designed on London’s West End and New york city City’s Broadway.

State media stated an event to mark the signing of the joint venture contract in between Universal and Shouhuan was attended by Brian L. Roberts, chairman and CEO of Comcast Corp. and Shouhuan’s basic supervisor, Yu Xuezhong, among others.

NBCUniversal didn’t immediately respond to requests for comment.