• Jin Jiang makes tourism buys

Jin Jiang International Hotels is reported to be planning to acquire Yen2.69bn (£250m) of tourism assets from its state-owned parent company.

The group, which owns or operates around 550 hotels in China, including the Peace Hotel in Shanghai, has bought stakes in transport services and travel agencies. The parent group, Jin Jiang Investment, will increase its stake in the hotel group to 72% from 66%, under the terms of the deal.

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