THE Yaohan group is pressing ahead with its China projects despite the economic uncertainties generated by the official 16-point austerity measure.
''For the long-term consideration, we have no worries at all,'' said Mr Kazuo Wada, chairman of Yaohan International, which controls three Hongkong-listed companies.
Yaohan International signed a letter of intent with the Chinese Government last month to build an international distribution centre worth US$115 million.
The project, International Merchandise Mart in Beijing, is to be modelled after the group's IMM distribution centre in Singapore.
Yaohan Japan and the Singaporean Government are also involved in the project.
A number of parties, including a number of Japanese trading firms, had shown interest in joining the venture, Mr Wada said.