Page No. 3 of 9 pages
Investment
9.
China's 'major property development company in Hong Kong, the Kiu Kwong
Investment Corporation, has acquired a 11 per cent holding in Continental Can Hong
Kong Ltd., a joint US-Hong Kong venture at present building a factory at Taipo to produce aluminium cans. The factory is designed to be amongst the most modern
of its type in the world and it is planned to commence production in January 1981.
While most of the production is intended for Hong Kong, the company is holding
discussions with potential users in China such as the Tsing Tao Breweries.
10.
Two Hong Kong firms, Cheung Kong (Holdings) Ltd. and Green Island Cement
Co. Ltd. have signed a contract with the China Shipbuilding Corporation for the
construction by the latter of two 27,000 ton freighters for the transport of cement
clinker to Hong Kong. The contract was arranged by CITIC.
11.
The Hong Kong firm, Chung Fat Development Co., has signed an agreement
with the Xiamen Construction and Development Corporation to build a housing estate
at Xiamen. The project, worth HK$90 m. is said to be the first Hong Kong investment
in Xiamen, Xiamen is to provide the land and labour while the Hong Kong company
will arrange capital and materials. The profits are to be divided, with 80 per cent
to Xiamen and 20 per cent to Chung Fat.
12.
A recently registered Hong Kong company, the Association of Experts for
Modernisation Ltd., whose members consist of lawyers, surveyors and other professional persons, has submitted to the Shenzhen authorities a general
development plan for the Municipality.
7
Air Links
13.
Daily return air services between Hong Kong and Shanghai have begun, with
Cathay Pacific operating two services a week and CAAC providing the remainder.
Education
14.
Two more communist schools, the Man Kuen Middle and Evening Middle
Schools, which had been suspended by their management because of lack of pupils, have ceased to be registered. There are now thirty-one registered communist
schools, of which six are suspended.
/ para 15. ....