GENERAL Electric Capital Services, the world's fifth-largest non-bank financial organisation with assets of US$155 billion, announced it had been granted approval to open a representative office in Beijing. A NEW US$620 million steel plant is to be built in Guangdong province. It is expected to be completed and ready to produce steel in two years. SUN Hung Kai Properties is to invest US$300 million to redevelop Beijing's Dong An Market into an 11-storey shopping centre. The 90-year-old market, in Wangfujing Shopping Street, was one of the four most popular shopping centres in Beijing. AN AGREEMENT has been signed between the China Aviation Supplies Corporation and the British Rolls-Royce Engine Company for compensation trade in plane engine parts. The deal is worth US$29 million. The British investment will be compensated with a supply of engine parts. Under the agreement, China's Xian Plane Engine Company will produce some spare parts for Rolls-Royce's RB211-535E4 engines. CONSTRUCTION has begun on a cement plant designed to produce 1.2 million tonnes annually in Lechang county in northern Guangdong province. The Lefa Cement Plant will be completed in three stages and at a cost of US$87.7 million. It will be able to manufacture 300,000 tonnes a year when the first stage is completed in 18 months. When fully operational in 1998 the plant is expected to earn US$26.3 million in profits a year and provide 2,400 jobs. WORLD packaging leader CarnaudMetalbox is to invest US$30 million in the Pudong New Area in Shanghai through a joint venture company. ANHUI province is to invest US$17.24 billion on areas along the Yangtze River over the next few years. The province hopes to build the areas into bases for iron and steel, cement, ferrous metals, energy, agricultural and side-line products, high technology, trade and tourism. NORTHERN Telecom of Canada announced plans to sell digital telephone exchanges to China in a deal said to be worth US$159 million. Northern Telecom said it would supply more than 160 DMS-100 switching systems to the Posts and Telecommunications authorities in the provinces of Henan, Jiangxi, Shaanxi and Yunnan. COCA COLA has announced it is to set up a US$26 million bottling plant in the northeastern port of Qingdao. A letter of intent has already been signed between Qingdao Yiqing Industrial Corporation and Robert Kuok's Kerry Beverages Limited. LEADER Universal Holdings, a Malaysian cable-making firm, confirmed the Malaysian central bank had approved its plan of a Hong Kong-based subsidiary to make cables in China. The firm's wholly-owned subsidiary, Zenith Properties, is to take up a 70 per cent in the US$30.6 million venture with state-owned Shantou Post and Telecommunications Bureau. JAPAN'S Matsushita Electric Industrial Company is to establish a joint venture for video cassette recorders. The new company will be capitalised at US$190 million, making it the largest-ever Japanese investment in China. LIAONING province in northeast China, which built the first expressways in the country, announced plans to construct China's biggest expressway network by the turn of the century involving 1,200 kilometres of road at a cost of US$1.75 billion. CHINA is seeking foreign investment to build more expressways to keep up with the pace of economic growth. The current blueprint aims to boost expressways from 650 kilometres at the end of last year to 1,200 by 1995, and 3,000 by the year 2000. THE powerindustry hopes to garner as much as US$2.5 billion in foreign investment in the next eight years. China is expected to become the world's fastest-growing power consumer market for electric generations. KUNMING Acetate Fibre Company, a Sino-US joint venture, has been established in Kunming, the capital of Yunnan province in southwest China. Covering an area of 16.3 hectares and with a total investment of US$50 million, the company is the largest joint venture in Yunnan province. THREE companies from Norway, Canada and Austria have won a US$160 million bid to supply equipment for a large power project in Zhejiang province. The Kvaerner-GE Canada-Elin company consortium outbid four rivals for supplying equipment to the TianhuangpingPumped Storage Power Station, located in east China's Zhejiang province. JAPAN'S top glass maker Asahi Glass plans to manufacture glass parts for television tubes in China. The US$4 million joint venture is expected to be set up by the end of the year. BROTHER Industries of Japan and China Standard Sewing Machines began building what will be China's biggest joint venture making sewing machines.