CONFIDENTIAL
Other Observations on the Shangbu Industrial Area
8.
The two factories described above were located in the Shangbu area immediately to the west of Shenzhen town on the northern side of the Shenzhen-Shekou Highway. Although recently surfaced the road is already pitted and in places obstructed by construction materials. At lunch time, the relatively light traffic nevertheless gave an impression
· of congestion. The Xinhua electronics factory was located close to a more extensive electronics factory bearing the Sanyo trademark.
It was learnt that this area was reserved for the electronics industry. To date there were six such factories operating under various arrangements with foreign investors. Xinhua however was the only solely Chinese owned factory.
9.
On the roadside, next door to the eastern wall of the Harpers Motor Vehicle Assembly Plant (itself seemingly deserted) stood a building described as a "Science Conference Building." A conference on Offshore Engineering had recently been held there.
Millies Housing Project
10..
In the afternoon the visitors were taken to a residential development constructed and managed by the hong Kong based Millies Group. The developmen: lay just to the easter of the "Bamboo Garden Hotel", along the road to Sha Tau Kok. This area will be reserved for residential developments.
11..
The apartments, three to a floor in a fairly unimaginative layout, looked out over other new buildings rather than the surrounding wooded landscape. Nevertheless the show flats seemed finished. to a high standard. It was learnt that the whole of the second phase of the development (some 216 units) had already been sold. The average purchase price of a two- bedroomed flat was HK$140,000. These had been bought by Hong Kong residerts either for their own weekend and holiday use or for occupation by relatives living and working in Shenzhen, However none of the flats was yet occupied.
CONFIDENTIAL
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