Chinese business tycoon Huang Nubo said on Saturday his deal to rent land in Iceland was approved after Icelandic government officials held a high-level meeting on Friday.

During the meeting, a committee representing Iceland's ministries of economy, finance and industry recommended that the government approve a deal allowing the Chinese to lease instead of buying the land.

In November 2011, the Iceland minister of interior rejected Huang's plans to buy a piece of land known as Grimsstadir a Fjoellum for a top resort and tourist facility.

Huang said he learned the good news from his company's agent in Reykjavik at midnight Friday. He assured China Daily that he will sign a deal in mid-June but "the details of the term will need further negotiation".

Huang said he believes that, during the whole process, he has played a positive role in telling his personal story of turning from a government employee to a successful private business owner during the 30 years of the country's reform and opening up. He worked for a Party department and the Ministry of Construction in the 1980s but quit in the early 1990s when many officials turned to business during the economic boom.

"I'm accompanied by a handful of successful businessmen like me. The West knows little about the transformation. My story helps them to better understand China and what's happening here," he said.

Contact the writer at meijia@chinadaily.com.cn