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for one reason or another, previously refrained from entering. As these China-interest companies move into
areas where they have to face new and more severe competition, their business attitudes have become more open, outward-looking and market-oriented.
5.
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Another important change came in 1979. In line
with the overall policy stance of more liberal attitude towards foreign economic and trade relations, the Chinese Government has since 1979 allowed the three municipalities
(Beijing, Shanghai and Tianjin), some provincial
authorities and some central government ministries the
right to engage directly in foreign trade. Furthermore, four coastal cities Shenzhen, Zhuhai and Shantou in
Guangdong and Xiamen in Fujian have been designated as Special Economic Zones (SEZs), which are endowed with greater autonomy in the matters of foreign trade and investment. These new policies have in effect, diluted
the monopoly position traditionally enjoyed by companies
like China Resources as more and more China-interest
companies have come to Hong Kong to do business. Fujian
Enterprises Co. Ltd. (Hua Min) and Guangdong Enterprises
Ltd. (Yue Hai) are notable examples of provincial
enterprises which have become very active in recent years
after the decentralization of trading rights to provincial
authorities. At one stage in 1980-81, the number of
China-interest agents in Hong Kong is reported to have
reached 300, causing much confusion and very vigorous
competition. Since then, China has made efforts to put its house in better order and according to an estimate
made by the Hong Kong General Chamber of Commerce, there are now about 80 "well-established" Chinese representative offices in Hong Kong; still a large number compared with
DENTIAL
- 機室