Dive Brief:
- A venture by Manchester Airport Group and Beijing Construction Engineering Group Co. plans to put an international business district on 150 acres in the second-largest city in England.
- Chinese construction companies are looking outside their country for deals as the government puts the brakes on a high-flying housing market in hopes of slowing price increases.
- The Manchester project is slated have a value of $1.3 billion when it's finished and create 16,000 jobs in the process.
Dive Insight:
China and Britain signed a deal in 2010 that hopes to double business between the two by 2015, and the Manchester project fits into that effort. Manchester is planning to have direct flights to China from its airport, which is the second-busiest outside London.
