HENRY FOK IN TALKS TO EXTEND WHITE SWAN RIGHTS

Hong Kong businessman Henry Fok Ying-tung is negotiating with the Guangdong provincial government to extend his rights to operate the White Swan Hotel in Guangzhou. Through a subsidiary owned by the Henry Fok Foundation, Mr Fok signed a 20-year agreement with the Guangdong government in 1982 which took effect in 1983 when the hotel started operation. 'The White Swan Hotel has become a state-owned asset as the agreement [with Mr Fok] expired,' Xinhua quoted a hotel official as saying.