G.F. 326
6
Overall position of China's investment in Hong Kong
9.
Only very scattered information is available
concerning the overall position of China's investments in
Hong Kong. The figure announced by Wang Guangying,
Chairman of the China backed Everbright Industrial Co., in
April 1984 was that, in the five years since 1979, China
has invested US$4 billion (around HK$31 billion) in
various economic sectors of Hong Kong, through 50 China
representative and trade offices in Hong Kong and
involving more than 300 projects. But this figure of US$4 billion is unlikely to be comprehensive. It probably does
not include the substantial investment by China in Hong
Kong prior to 1979. On the other hand, some of the US$4
billion may refer to pledged investment rather than the
amoun of investment actually undertaken, particularly for
very recent projects or those still in the planning stage.
10.
According to a very rough estimate put forward
by the Hong Kong General Chamber of Commerce in February
1984, China's total investment in Hong Kong was in the
range of HK$156 to HK$195 billion. These estimates have a
more comprehensive coverage than Wang Guangying's figure,
but again they are derived from very crude guesswork
rather than from any hard data. Notwithstanding the
unavailability of reliable data, China's investment in
Hong Kong has undoubtedly been growing rapidly in the past
five to seven years,
since the launch of the Four
Modernization Programme in 1977.
Sectoral distribution of China's investment in Hong Kong
11.
Apart from growing rapidly, there has also been a marked shift in emphasis of China's investment in Hong
Kong. Before 1977, China's principal interest in Hong Kong was confined to bilateral trade activities.
These
CONFIDENTIAL &
機