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Page No. 3 of 9 pages
8.
3
A similar project is to be undertaken in the Chung Shan district,
near the Macau border. This will produce 360 flats and the Hong Kong
partner is the Silver River Investment Co., which will bear the full cost
of development and take 65% of the proceeds. Conditions as to ownership
and letting will be similar to those at the Shenzhen Estate.
The Chung
Shan project brings to six the number of housing ventures involving Hong
Kong firms and various Chinese authorities in Guangdong and Fujian.
9.
It was reported in a local left wing Chinese language periodical
that the 5th Guangdong Provincial People's Congress had decided that land
"allotted" to developers from Hong Kong would be on a tenancy basis of up to
50 years duration. This follows the announcement last month that agreements
providing industrial accommodation at the She Hau Industrial Zone would
run for "around 25 years", with provision for extension by mutual agreement.
Communications and Transport
10.
The scheme for a regular passenger coach service from Hong Kong
to Guangzhou via the Man Kam To road bridge continues to make progress
(para 12, November 1979 report). The formation of the Motor Transport
Co. of Guangzhou and Hong Kong was announced in February, the partners
being the Guangzhou Transport Bureau, the communist China Merchants
Steam Navigation Co. of Hong Kong and Inchcape (Hong Kong) Ltd. (who
own 22.5 per cent of the new company). Firm plans are nearing
completion for the service to begin in the middle of the year with 3 or 4 coaches running daily in each direction. Temporary immigration and customs
control points will by then be established on the Hong Kong side of the
border, to be followed early in 1981 by a permanent border station.
11.
The Fujian Overseas Chinese Investment Co. has been established in Hong Kong to manage the shipping schedules and administer the finances
of Xiamen (Amoy) - Hong Kong ferry service, which began in January.
/ para 12.
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