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capital investment of some RM35, 500 million of which the provincial authorities will provide RMB1,900 million and its banks between RMB300 and RMB 400 million each year.
An additional RMB1,000 million will be sought from the central authorities in Peking.
K
17. Vice Mayor of Xiamen and Deputy Director of its SEZ, Xiang Zhen, apparently told reporters that the terms for foreign investors in the Municipality would be even more favourable than those enjoyed in the SEZS in Guangdong. To this end, Xiang suggested profit-sharing arrangements in the ratio of 60% for the foreign investor and 40% for the Municipality (comment: in fact, there is no fixed ratio for profit-sharing in enterprises in the SEZs in Guangdong. Profits are shared according to the form of joint enterprise and the proportion of capital invested by each side
see,
for example, paragraphs 5-9 of Monthly Notes: September). Xiang also confirmed that the 10-point programme announced in August on the development of China's SEZs would apply not only to Guangdong but also Fujian. The detailed laws and regulations based on this programme are still awaited. Nevertheless, Ta Kung Pao on 29 October reported that such regulations are expected to be promulgated soon." These would include concrete regulations on "the nature and legal position of joint ventures, the main fields for joint ventures the import of foreign technology, organisation and management, taxation, control of foreign exchange, the duration of joint enterprises and the settlement of disputes between partners
to a joint venture."
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/18. ...