China's Jiangsu Expressway to liquidate unit


HONG KONG, July 24 (Reuters) - Chinese toll road manager Jiangsu Expressway said on Wednesday it will liquidate one of its units, in which it has invested 100 million yuan (US$12 million), on fears of eroded earnings from the firm. Jiangsu Expressway said it will dissolve its 49-percent held Yixing Yicao Highway Co Ltd, whose earnings it expects would be hit by the construction of a parallel and alternative highway, but added that its investment in the firm has been fruitful. "On the ...

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