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China is planning to invest in a new airport in the United Kingdom.

One of China's largest construction firms has agreed to back an £800 million ($1.3 billion) development around Manchester Airport, the first indication that Beijing is following through on a pledge to significantly raise its infrastructure spending in the United Kingdom.

The Greater Manchester Pension Fund (GMPF), Beijing Construction Engineering Group (BCEG), and Carillion PLC will collaborate to build Manchester Airport City, which has been dubbed the UK's largest regeneration project since the Olympics. Offices, hotels, advanced engineering, logistics, and warehousing are all planned for a total of 5 million square feet. buying property in qatar for expats

As part of Chancellor George Osborne's trade trip to China, the agreement was revealed.

Mr. Osborne told reporters, "I am determined that Britain does not repeat the mistakes of the past, which saw investment and development concentrated only in the City of London, as significant as it is, but instead ensures that investment from China flows to all parts of the world."

China and the United Kingdom agreed last year to increase bilateral trade from $8 billion to $100 billion by 2015. However, the relationship deteriorated, particularly after Prime Minister David Cameron met with the Dalai Lama, which sparked Beijing's protests.

In a tweet, Xing Yan, managing director of BCEG International Co. Ltd., said, "We see our involvement in Airport City as an extension of the memorandum of understanding between China and the United Kingdom, where we have been looking to further explore joint infrastructure opportunities for some time."

According to the group, management of the airport development is "actively looking" to attract direct flights to China.

Mr. Osborne also announced plans to streamline the visa process for Chinese tourists to the UK during his visit.

The World's Largest Wine Vault in Southeast Asia.

In Singapore, a Singapore-based company is constructing a six-story, $160.4 million wine vault that will be the largest in Southeast Asia.

According to a press release from Singapore Wine Vaults, the 750,000 square-foot "ultra-stylish" facility will be able to store more than 10 million bottles. The vault, which is set to open in the second quarter of 2014, is planned to provide "ideal storage conditions" for investment-grade wines.

According to the facility's promotional materials, "despite their passion for fine wines, local collectors face a lack of suitable storage facilities and exorbitant rent rates, forcing many to send their wines to London for proper cellarage." "Singapore Wine Vault customers can save money on storage fees and have convenient access to their wine collection thanks to Singapore's position as a regional hub."

The facility will have a main storage area as well as a separate Drôme area for private cellars that can be tailored to the client's preferences. Clients would be able to track inventory and make purchases from remote locations thanks to a tracking system.
In addition to temperature controls and limits on what can be brought in, "The vault "uses security procedures, protocols, and processes typically associated with financial institutions" to prevent "natural light" infiltration.

" "Select senior Wine Butlers" will be allowed access to the main chambers, according to the company.

According to the firm, access to the Drôme region will include "dual-card verification of both a client and a Singapore Wine Vault employee through a private pin number or thumbprint recognition," as well as "dual-card verification of both a client and a Singapore Wine Vault employee via a private pin number or thumbprint recognition."

The "all-inclusive" facility will also have a private dining room and a bar with the "refined elegance of a gentleman's club" for tastings and activities.

Singapore Wine Vault was established last year as a subsidiary of CWT Logistics, which is part of the CWT Group, the region's largest logistics firm.

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