China's Greenland in JV to build Bay Area biotech hub

The Greenland USA subsidiary of China-based Greenland Holdings Corp. Ltd. (Shanghai:600606) announced plans to construct a biotech R&D center in South San Francisco, Calif. A joint venture including Greenland and the Ping An Trust intends to invest more than $1 billion in the project, according to the developer.

Greenland said it is the majority shareholder in the JV, which also includes minority equity partners Agile Group and Poly Sino Capital Ltd. ...