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BUSINESS
March 26, 2010 | By Roger Vincent
The Los Angeles Marriott Downtown has been purchased out of foreclosure by a Chinese real estate development company that vows to improve the aging hotel, which caters to business travelers. Shenzhen New World Group Co. got the 469-room hotel at 3rd and Figueroa streets at a substantial discount from its previous sale price as the country's hotel market continues to reel from recession woes. The price was not formally disclosed, but industry experts believe Shenzhen paid $60 million, according to consultant Alan Reay of Atlas Hospitality Group.
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BUSINESS
April 25, 2014 | By Julie Makinen
BEIJING - DMG Entertainment, the Beijing-based company that co-produced Hollywood films including "Iron Man 3" and "Transcendence," is in the process of going public on the Shenzhen Stock Exchange. The move will see DMG enter the exchange through a reverse takeover with meat-processing company Sichuan Gaojin Foods. The deal still needs regulatory approval. According to DMG and Sichuan Gaojin, the deal values DMG at $970 million. That's three times the value of Gaojin at the end of 2013.
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BUSINESS
May 30, 2012 | By David Pierson, Los Angeles Times
BEIJING — The Warren Buffett-backed Chinese carmaker BYD Co. is defending the safety of its e6 electric car after the vehicle was involved in a fiery collision that killed three people and raised fresh concerns about one of China's most ambitious companies. BYD, which was considered one of China's most promising brands just a few years ago, said Saturday's crash in the southern city of Shenzhen occurred when a drunk driver in a Nissan GT-R coupe, speeding at 112 mph, slammed into an e6 taxi, killing the driver and two passengers.
SPORTS
July 12, 2013 | By Eric Sondheimer
 A group of Southern California high school coaches are headed to Shenzhen, China, next week to be part of a basketball clinic featuring 90 top high school aged players in Shenzhen. Offering their services will be Tom Mott from Santa Maria St. Joseph, Chris Nordstrom from Orange Lutheran, Garrett Wood and Andrian Hernandez from St. Joseph and Bryan Davis from Mission Prep. There also will be a stopover in Hong Kong. Somebody might get a suit made, but since no one wears suits anymore during games, who knows?
BUSINESS
July 2, 2012 | By David Pierson, Los Angeles Times
Apple Inc. has agreed to pay a Chinese company $60 million to settle a dispute over the name of the iPad tablet in China, one of the company's most important markets. The U.S. tech giant had been locked in a two-year battle with Proview Technology, a financially troubled firm in the southern city of Shenzhen. Apple thought it owned the global rights when it purchased the iPad name from Proview's parent company. But the Shenzhen firm disagreed, prompting Apple to take legal action.
SPORTS
July 12, 2013 | By Eric Sondheimer
 A group of Southern California high school coaches are headed to Shenzhen, China, next week to be part of a basketball clinic featuring 90 top high school aged players in Shenzhen. Offering their services will be Tom Mott from Santa Maria St. Joseph, Chris Nordstrom from Orange Lutheran, Garrett Wood and Andrian Hernandez from St. Joseph and Bryan Davis from Mission Prep. There also will be a stopover in Hong Kong. Somebody might get a suit made, but since no one wears suits anymore during games, who knows?
WORLD
September 21, 2008 | From Times Wire Reports
State media said a fire had killed at least 43 people in a nightclub in southern China. The New China News Agency said the fire broke out in the club in Shenzhen, a city in Guangdong province near Hong Kong. It said at least 51 people were injured in the blaze. The news agency did not give a cause for the fire.
BUSINESS
May 29, 2012 | By David Pierson
BEIJING -- The Warren Buffet-backed Chinese carmaker BYD Co. defended the safety of its e6 electric car Tuesday after the vehicle was involved in a fiery collision that killed three people and raised new concerns about one of China's most ambitious companies. BYD, which was considered one of China's most promising brands just a few years ago, said Saturday's crash in the southern city of Shenzhen took place after a drunk driver in a Nissan GT-R coupe,  speeding at 112 mph, slammed into an e6 taxi, killing the driver and two passengers.
WORLD
September 22, 2008 | From Times Wire Reports
Chinese police have arrested 13 people involved with a crowded nightclub where fireworks sparked a blaze and stampede that killed at least 43 people and injured 88, state media and officials said. The detainees included Wang Jing, the legal representative of the unlicensed King of the Dancers club in the Longgang district of the city of Shenzhen, just across the border from Hong Kong, the state-run New China News Agency quoted police as saying today. The general manager, vice general manager, safety officer, technician and performers also were held, the report said.
BUSINESS
January 17, 2012 | By E. Scott Reckard and David Pierson
Winston Chung came to Southern California two years ago like a standard-bearer for the new China, a wealthy Hong Kong entrepreneur with visions of creating an electric vehicle industry by reviving struggling manufacturing firms. Some dreams rolled out as planned. The battery scientist and clean-energy promoter bought control of four Southland specialty vehicle makers. UC Riverside renamed a building as Winston Chung Hall, saying that the $13 million he provided for green power research was the biggest donation in campus history.
BUSINESS
July 2, 2012 | By David Pierson, Los Angeles Times
Apple Inc. has agreed to pay a Chinese company $60 million to settle a dispute over the name of the iPad tablet in China, one of the company's most important markets. The U.S. tech giant had been locked in a two-year battle with Proview Technology, a financially troubled firm in the southern city of Shenzhen. Apple thought it owned the global rights when it purchased the iPad name from Proview's parent company. But the Shenzhen firm disagreed, prompting Apple to take legal action.
BUSINESS
May 30, 2012 | By David Pierson, Los Angeles Times
BEIJING — The Warren Buffett-backed Chinese carmaker BYD Co. is defending the safety of its e6 electric car after the vehicle was involved in a fiery collision that killed three people and raised fresh concerns about one of China's most ambitious companies. BYD, which was considered one of China's most promising brands just a few years ago, said Saturday's crash in the southern city of Shenzhen occurred when a drunk driver in a Nissan GT-R coupe, speeding at 112 mph, slammed into an e6 taxi, killing the driver and two passengers.
BUSINESS
May 29, 2012 | By David Pierson
BEIJING -- The Warren Buffet-backed Chinese carmaker BYD Co. defended the safety of its e6 electric car Tuesday after the vehicle was involved in a fiery collision that killed three people and raised new concerns about one of China's most ambitious companies. BYD, which was considered one of China's most promising brands just a few years ago, said Saturday's crash in the southern city of Shenzhen took place after a drunk driver in a Nissan GT-R coupe,  speeding at 112 mph, slammed into an e6 taxi, killing the driver and two passengers.
BUSINESS
April 13, 2012 | By David Pierson, Los Angeles Times
HUIZHOU, China — Tony Zhang used to make cents on the dollar churning out cheap sneakers for Wal-Mart. And like every other low-margin exporter in China's manufacturing heartland, he was struggling to keep pace with rising costs for labor and raw materials. Rather than run his business into the ground with ever-shrinking profits, the Taiwan-born Zhang decided to upgrade his operations. His factory just outside Shenzhen now makes specialty footwear, including fire retardant boots, steel-toed shoes and soccer cleats.
BUSINESS
February 14, 2012 | By David Sarno and Andrea Chang, Los Angeles Times
Responding to criticism after worker deaths and injuries at Chinese factories that produce iPhones and iPads, Apple Inc. and its suppliers have agreed to allow a labor watchdog group to monitor those facilities. Apple, based in Cupertino, Calif., said Monday that the Fair Labor Assn., an industry-funded labor monitoring organization, would evaluate some of the most controversial factories in Apple's Chinese supply chain. The group plans to conduct interviews with thousands of workers and managers and will inspect the plants and worker dormitories with what Apple called "unrestricted access.
BUSINESS
January 17, 2012 | By E. Scott Reckard and David Pierson
Winston Chung came to Southern California two years ago like a standard-bearer for the new China, a wealthy Hong Kong entrepreneur with visions of creating an electric vehicle industry by reviving struggling manufacturing firms. Some dreams rolled out as planned. The battery scientist and clean-energy promoter bought control of four Southland specialty vehicle makers. UC Riverside renamed a building as Winston Chung Hall, saying that the $13 million he provided for green power research was the biggest donation in campus history.
BUSINESS
April 13, 2012 | By David Pierson, Los Angeles Times
HUIZHOU, China — Tony Zhang used to make cents on the dollar churning out cheap sneakers for Wal-Mart. And like every other low-margin exporter in China's manufacturing heartland, he was struggling to keep pace with rising costs for labor and raw materials. Rather than run his business into the ground with ever-shrinking profits, the Taiwan-born Zhang decided to upgrade his operations. His factory just outside Shenzhen now makes specialty footwear, including fire retardant boots, steel-toed shoes and soccer cleats.
NEWS
November 20, 1990
One of China's so-called "Special Economic Zones"--Shenzhen, located next to the Hong Kong border--will hold a three day, 10th anniversary celebration starting next Monday. The commemoration is expected to highlight the zone's rapid growth and to promote its image for potential investors.
BUSINESS
January 6, 2011 | By Roger Vincent, Los Angeles Times
A Chinese real estate firm with one Los Angeles hotel in its fold closed on a deal to buy the Sheraton Universal hotel, showing a growing trust in a recovery of the hospitality industry and the rising interest of Asian investors in U.S. commercial property. The price of the Sheraton was not disclosed, but industry experts who tracked the deal said Shenzhen New World Group Co. paid about $90 million for the 451-room inn overlooking Universal City. That would make it a deep discount from the $122 million that previous owner Lowe Enterprises paid for the hotel at the top of the market in 2007.
BUSINESS
March 26, 2010 | By Roger Vincent
The Los Angeles Marriott Downtown has been purchased out of foreclosure by a Chinese real estate development company that vows to improve the aging hotel, which caters to business travelers. Shenzhen New World Group Co. got the 469-room hotel at 3rd and Figueroa streets at a substantial discount from its previous sale price as the country's hotel market continues to reel from recession woes. The price was not formally disclosed, but industry experts believe Shenzhen paid $60 million, according to consultant Alan Reay of Atlas Hospitality Group.
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