Having more big quality state companies is definitely good for the Chinese stock market because investors would be more interested in buying stocks. Capital is not a problem in China. The problem is that there aren't enough good investment opportunities.
Cost control is better at Air China than at China Southern or China Eastern.
Although Disneyland will benefit Hong Kong and southern China, Shangri-La won't be reaping the most benefit.
It's a bubble. There will be lots of supply.