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China. The total value of Hong Kong's imports from China of oil and oil products in the first ten months of 1978 was $604 million. Although further increases in imports of oil from China are a possibility, they would depend on China's willingness and capacity to supply resources valuable to her own industrial programme.
20. Chinese enterprises in Hong Kong have shown a marked expansion in their activities over the last year. China retails consumer goods in Hong Kong through some 101 outlets and activity is expanding into the new towns of the New Territories. There are 13 banks with a total of 128 branches and which represent 10% of the number of banking establishment: in Hong Kong. Three of the banks have bought the property for their head offices. There have been other Chinese purchases of real estate, including hotels, apartment blocks and offices Such purchases have been conducted by the New China News Agency (NCNA), China Resources and companies with a
controlling Chinese interest, Kiu Kwong Investment Company and the Sun Company. Chinese registered shipping uses repair and maintenance facilities operated by Yi Lian Company. The company operates a floating dry dock and is developing its land-based repair yard. An indeterminate number of manufacturing enterprises in Hong Kong are also under Chinese control. In addition, China runs a news agency (NCNA) and several newspapers and owns a travel agency (China Travel Service) which handles all visits to China.
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