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New Cargo Shipping Service between Hong Kong and Shanghai
12.
July 13 was the first sailing date for the cargo ship "Hou Hua" to Hong Kong. The ship is scheduled to make two round trips a month and. joins five other cargo ships which make ten round trips between Hong Kong and Shanghai a month. At present, an average of about 60,000 tons of cargo are shipped from Shanghai to Hong Kong each month, one third of which is trans-shipped to other ports.
13.
US$900,000 profit for China Schindler Elevator Company
China Schindler Elevator announced on 9 July that its foreign participants will realise a net profit. in its first year of operation of US$900,000, equivalent to 23% of their total investment. The Company is a joint venture between China Construction Machinery Corporation, Swiss Schindler Holdings and Jardine Schindler Holdings. It has a total capital of US$16 million and a total staff of about 2,000. According to NCNA it is the largest of China's 23 joint ventures and the technology of its products is the most complicated.
China's Foreign Exchange Reserves
146
NCNA published for the first time on 3 July Chinese monetary statistics, reporting that the country held foreign exchange reserves worth US$2,262 million plus 12.8 million troy ounces of gold at the end of last year. On the inter- national market this gold would be worth about US$5,300 million
Political Adviser's Office
4 August 1981
Distribution (see over)
RESTRICTED
SCR8/1916/79