CONFIDENTIAL
2
Grantee
Tai Tung
Industrial Equip- ment Limited
this Company is affiliated to China National Import and Export Corporation of Peking through
China Resources
Site
Tsing Yi Island
Type of Industry
A machine tool and industrial equipment plant, together with a spare parts storage depot and a supporting foundry.
Company)
Subliprint Far
Tuen Mun
East Limited
Ta Swiss Company)
3.
A plant to manufacture heat transfer printing paper for the textile industry.
Apart from the fact that the main problem of implementing the special industries policy has been a lack of suitable sites, other reasons for the small number of grants have been :
4.
(a)
(b)
(c)
the relatively small number of applicants whose proposals com- ply with the criteria laid down;
the extremely difficult nature of the land which has been available for special industries grants. This land is mainly unformed land on Tsing Yi which involves complicated (and there- fore lengthy) preparation of conditions and additional time for formation;
the premium, which is calculated by reference to prevailing market prices but with a restricted plot ratio, is still considered too high by the Department of Trade, Industry and Customs, but the fact is that land costs in Hong Kong will always be relatively high.
It was largely to overcome the difficulties set out in paragraph 3 above that the Hong Kong Industrial Estates Corporation was established, and the estate at Tai Po was granted to the Corporation. The industrial estate was intended to provide a means whereby appro- priate industrialists could apply for leases for a certain period directly and begin operations within a relatively short time on formed and serviced land.
CONFIDENTIAL
15.