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(e) Nantou-Shangbu area. This area is intended for special non- industrial development, including research institutions, hospitals and high-priced residential development; the
authorities aim to maintain a "campus-like" atmosphere.
(f) Shekou. The Special Industrial Zone at Shekou lies within
the boundaries of Shenzhen SEZ, but as a "zone within a
zone", has been developed and managed by the Hong Kong-based China Merchants Steam Navigation (CMSN) Co. Ltd. CMSN is a
wholly Chinese-owned company, 60% of its shares being held
by the Ministry of Communications. Foreign investment at
Shekou is, however, governed by the same laws on joint-
ventures and regulations on the SEZ's (see above paragraphs 3 and 4(a)) as investment elsewhere in China. Since work on providing the necessary infrastructure has progressed relatively smoothly and quickly, agreements have been reached
on a number of industrial projects involving foreign capital (from Hong Kong, Denmark, the Philippines and Switzerland).
These include:
China-Swiss Construction Machinery Repair Plant
P
i)
ii)
Zhonghong Oxygen and Acetylene Plant
iii)
Haihong Paint factory
iv)
Huamei Steel plant
v) China International Marine Container Plant
vi)
Huayi Aluminium rolling mill
vii)
Jianghui Pleasure-Boat yard
viii)
A ship-breaking yard
ix)
A Flour mill
x)
A Biscuit factory
xi)
T
now open
open soon
open within the next year
Animal-feed mill
According to China Economic News (8 June) the tenure of a
joint enterprise at Shekou is about 25 years, although
extensions will be negotiable. The current annual land rent is HK$2-4 per sq. ft. (A development plan of Shekou, from CMSN's "Investor's Handbook" is at Annex E).
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