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14.
In addition to property investment and trading, China-interest banks and companies generally appear to be more eager than at any time previously to own the premises (such as offices, shops, godowns, wharves or even pier facilities) where their businesses were based. Notable examples are the purchase of a building in Happy Valley by New China News Agency for use as its headquarters in Hong Kong and the purchase of the first floor and part of the ground floor of Star House by Chinese Arts and Crafts (H.K.) Ltd. for use as its retail outlet. In addition, quite a number of large buildings are currently occupied by various China-interest companies and agencies, but the ownership of these buildings cannot be readily identified.
15.
The second change came around 1982-83 when China-controlled companies began to take an interest in the manufacturing sector of Hong Kong. It appears that China made a strategic decision around this time that the absolute and relative importance of Hong Kong's manufacturing sector, which is generally less affected by political sentiments than the financial sector, should be further enhanced in future. That is apparently why the Chinese Government considers investment in the manufacturing sector of Hong Kong a good way to boost the prosperity and stability of Hong Kong. The same
confidence factor seems to explain the great publicity now engineered by China-interest companies whenever they undertake new investment projects in Hong Kong.
16.
Besides boosting confidence, another objective of China's investment in the manufacturing sector of Hong Kong, as spelt out by a top Chinese official, is to help China's modernization through transfer of technology into China. Hong Kong has clear advantages as a place from which China can acquire valuable experience and knowledge
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