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Dalian Wanda Group: Sunseeker jobs 'will stay in UK'

19 June 2013 Last updated at 12:04 BST

Chinese property developer Dalian Wanda Group has said it will spend more than £1bn ($1.6bn) to buy a British yacht maker and develop a hotel in London.

Wanda will pay £320m for almost 92% of Sunseeker International and invest £700m to develop a five-star hotel in the capital.

Speaking to the BBC's John Sudworth, Dalian Wanda Group chairman Wang Jianlin explained why his company was keen to seal the deals.

He also insisted that Sunseeker workers in the UK had nothing to fear.