The Group forms a strategic alliance with Liberty Mutual Group of the United States, the Asian Development Bank and other investors to set up New World Liberty China Ventures Limited, raising initial capital of US$150 million mainly for private equity investments in small and medium-size enterprises in Mainland China.
NWCL acquires the remaining 49% stake in Tianjin New World Plaza, which becomes an investment property solely owned by the Group.
Sino-French invests in Zhengzhou Water Plant.
NWS acquires New World Insurance Services Limited.
NWS acquires a 99% stake in CiF Solutions Limited.
New World Telephone invests in APCN-2, accelerating the growth of Hong Kong into a regional internet hub of Asia.
New World Mobility signs a network expansion agreement valued at US$25 million with Nokia for further expansion of its mobile communication services.
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