CONFIDENTIAL
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BUSINESS ITEMS:
Work on the Guangdong N-plant would start this year, or early next year and would be producing electricity for Guangdong and HK by 1990. A Guangdong Electricity Bureau official said it was comparatively cheaper to run a nuclear power station and that meant cheaper electricity for HK, 60 per cent of whose needs it would supply. China was still negotiating with Britain and France on the supply of technology. Separately, Ta Kung Pao described the 1990 date as good news for HK residents; ties between HK and China were getting closer and such a relationship was a big guarantee to HK's future stability and prosperity.
An article by Vigor Keung Fung in the Asian Wall Street Journal on 28 January said American companies were flocking to set up shops in Shanghai, defying the widely-held belief that foreign companies' interest in China had dwindled. Four US companies established joint ventures with Shanghai corporations in 1982 and Shanghai officials said about 40 other American companies were negotiating with local enterprises for possible investment projects.
A 20-member delegation of the HK General Chamber of Commerce is to visit China next month. Its assistant executive director, Miss Cecilia Fung, recently visited Beijing and three other Chinese cities in making arrangements for the visit, according to Ta Kung Pao. A four-man team leaves for Britain in March for a week-long visit to promote bilateral trade.
A visiting Guangdong economic delegation announced that 101 items were open to foreign investment in the province. Emphasis would be placed on investment in glass and plastics wares, machinery and electronics products.
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CONFIDENTIAL