A consortium of three Chinese firms and one Danish company are to build the £7.5 billion sea bridge linking the west side of Hong Kong with Macau and the Chinese mainland city of Zuhai.
The project, which is a series of bridges, tunnels and manmade islands, will be funded by the governments of Hong Kong, Beijing, Guangdong and Macau as well as from bank loans.
The Chinese government expects the project to create around 18,000 jobs in Hong Kong.
Meanwhile China's tallest tower has been unveiled by architect Gensler. The 632 metre Shanghai Tower will dwarf its neighbouring Jin Mao Tower and the Shanghai World Financial Center.
Located in the Luijiazui Finance and Trade Zone of the city, the tower, which is being developed by Shanghai Tower Construction & Development Company, is due for completion in 2014.
The 128 storey mixed use building will house a cultural institution, hotel and office space. Below ground facilities will include retail, connections to the Shanghai metro and three floors of parking.
It is being hailed as a symbol of the future and a sign that not all is gloom and doom in the construction and commercial property sectors. 'This tower is symbolic of a nation whose future is filled with limitless opportunities,' said developer's president, Qingwei Kong.
'With Shanghai Tower we celebrate not only China's economic success and increasing connection to the global community, but also our company's commitment to developing properties that demonstrate the highest, noblest and most exquisite design achievements possible,' he added.
