Sunseeker yachts
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China's Dalian Wanda to buy UK yacht maker and hotel

19 June 2013 Last updated at 14:24 BST

Chinese property developer Dalian Wanda Group has said it will spend more than £1bn ($1.6bn) to buy a British yacht maker and develop a hotel in London.

Wanda will pay £320m for almost 92% of Sunseeker International and invest £700m to develop a five-star hotel in the capital.

John Sudworth reports from Beijing.