THE Australian-owned Foster's Brewing Group, one of the world's biggest breweries, is expanding its operations into southern China. A joint venture called Guangdong Foster's Brewery Ltd was established this month between the group's subsidiary Carlton & United Brewery and Princess Brewery in Guangdong province's Doumen County. With a total investment of US$50 million, the joint venture aims at producing 300,000 tonnes of beer a year. THE Bank of China has signed an agreement with the General Bank and Indosuez Bank of Belgium to buy digital long-distance switching and postal automation equipment manufactured by Alcatel Bell of Belgium. The deal is said to be worth US$250 million. FORMOSA Plastics Group, Taiwan's largest conglomerate, is to build a US$54 million wood pulp factory in Northeast China. The factory will produce 90,000 tonnes of pulp a year which will be shipped to Taiwan and reprocessed as textiles. A US engineering and construction company and a Chinese electric power design firm have formed the first jointly owned engineering services company to operate in China. The joint venture, called Shanghai Ebasco-Ecepdi Engineering Corporation was formed by a subsidiary of New York-based Ebasco Services and East China Electric Power Design Institute, Shanghai Pudong division. TIANJIN Harbour Container Company, the largest of its kind in China, plans to set up a number of container transfer stations in several inland provinces and autonomous regions. The move, designed to simplify and speed up freight transportation, is expected to help landlocked regions expand foreign trade. IN THE face of fierce international competition, China and the United States have joined hands in manufacturing and marketing high-grade acrylic and acid polymer. The 50-year deal between Beijing Eastern Chemical Plant and the Rohm and Haas Co of the US involves a total investment of US$16 million. FIVE Singaporean companies have invested US$52 million to gain a majority stake in the Guangxi Yuhai Machinery Co, which is located in the Guangxi Zhuang Autonomous Region in southwestern China. WORK began this month on Guangdong sections of the Kowloon-Beijing railway. The 352 km section will cost US$311 million and involve 54 tunnels with a total length of 18 km and 29 km of bridges. SHANGHAI Airlines has ordered five Boeing 767-300 wide-bodied 263-seat passenger jets valued at US$450 million. The deal comes close on the heels of the China Aviation Supplies Corp's US$800 million order in April for 20 medium-range B737s and one B757. CHINA International Trust and Investment Corporation, Hongkong, has signed a letter of intent for a US$800 million expansion of the Ligang Power plant in Wuxi, Jiangsu province. CONSTRUCTION is to begin next month at Baoshan, in the suburbs of Shanghai, on China's largest container plant, which is designed to turn out 30,000 units a year. The Shanghai-Taiwan joint venture will involve investment of US$29.5 million. THE Commercial Bank of Korea, the biggest of its kind in the country, has opened up a representative office in Shanghai. SINGAPORE bus operator Tibs Holdings has joined forces with a Beijing Company to assemble luxury coaches in China. The deal - the first major overseas venture for the Singapore-listed company - also involves technology from leading German vehicle-maker Mercedes-Benz. The Beijing joint venture partner is JingDa Automotive Manufacturing Company, and the total investment is said to be in excess of US$29 million. WORK on a new international airport in Guilin, in southern China, is to begin in late July as part of the city's effort to handle the high volume of air traffic. When completed in September 1995, the new airport will be able to handle five million passengers a year. Construction will involve a total investment of US$175 million. THE People's Construction Bank of China is to invest 4.1 billion yuan in China's railways. MANHATTAN China Investment, a private firm controlled by former legislator Mr James Tien Pei-chun, has concluded two industrial projects worth a total of 220 million yuan in Foshan. One project involves a joint venture with Foshan Low-Voltage ElectricWorks for the production of power transmission switching gear, and the other involves the manufacture of motorcycle shock absorbers.