LAST PAPER
British Embassy
PEKING
J N Powell Esq Hong Kong Dept
FCO
HKCK 011/4
RECEIVED IN REGISTRY
24 APR 1985
DESK SYAR
INDEK
15 April 1985
(2)
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Dear Jonathan,
HONG KONG/CHINA FOUNDATIONS
1. During the recent meeting of the Chinese People's Political Consultative Conference (CPPCC) the establishment of two foundations for the purpose of promoting China's development was announced. Hong Kong businessmen have put
up the money in both cases.
2.
Henry Yung Ting Fok, a CPPCC Standing Committee member (he is also President of the Chinese General Chamber of Commerce in Hong Kong) announced on 7 April that he would start a foundation with HK$ 1 billion to benefit the mainland and Hong Kong. According to Fok a number of projects funded by the foundation have already got under way. These include a donation of HK$ 100 million for developing sports and physical culture (sic), US$ 1 million for Jinan University in Guangdong to train specialists (he did not specify what type) and RMB 3 million (about US$ 1 million) to the Peking Tumour Hospital for cancer research. Fok also intends to donate
US$ 1 million to the Ministry of Education to establish a permanent scholarship programme to send students abroad. A separate fund will also be set aside to encourage new developments in science and technology. Fok said that the guiding principle of the foundation was to serve the needs of the country.
3. Henry Fok was among the first businessmen from Hong Kong and Macao to invest on the mainland following the opening of China's door in the late seveties. He now has substantial interests on the mainland, most notably the luxurious White Swan Hotel in Guangzhou. He has also, I understand, made a number of donations and low interest loans to Guangdong Province for construction projects.
/4..