Archive for November, 2017

China Information Technology receives Best Business Model Innovation Award

Friday, November 24th, 2017

BVI-registered company China Information Technology, Inc. has received the Best Business Model Innovation Award from the committee of the 9th China (International) Commercial Display System Industry Leaders Summit. The Summit was held in Shenzhen ad co-hosted by China Commercial Display System Industry Alliance and Shenzhen Commercial Display System Industry Promotion Association. It provided platform for representatives of industry, media, companies, academies and investment institutions to discuss current challenges and opportunities in the commercial display industry.

The innovated sharing model of Taoping Alliance, which is a new media operating organization founded by CNIT and Shenzhen Taoping New-Media Technology Limited, received the Best Business Model Innovation Award in the competition of Chinese commercial display brand value and innovative application.

HK skyscraper sold to BVI company in US$5.2mln deal

Tuesday, November 7th, 2017

Hong Kong tycoon’s company Li Ka-shing’s CK Asset Holdings has sold its stake in The Center, the fifth-tallest skyscraper in Hong Kong, for the amount of US$5.2 billion. Thus, the 73-story building was purchased for the record sum for a commercial property in HK. CK Asset Holdings said it expects to make a profit of US$1.9 billion (HK$40.2 billion).

The purchaser is C.H.M.T. Peaceful Development Asia Property Limited, an investment vehicle incorporated in the British Virgin Islands specially for this purpose. According to the market sources, the company’s largest shareholder is Beijing-based China Energy Reserve and Chemicals Group. Also, it is supposed that the purchaser will put on sale on the market each floor of the office tower after the purchase. The developer said the gain on disposal would be about HK$14.5 billion, adding that the proceeds of the disposal will be used for general working capital purposes of the group.