13
number of trips made by Chinese residents to Hong Kong during this period rose by 27% to 29,900. For the year as a whole, the total number of these trips was 106,000. Among them, 50% were in the form of group tours, while the rest were made by two way permit holders.
26.
According to a report compiled by the Immigration Department, a total of 1,864 separate PRC official delegations, comprising 7,582 people, visited Hong Kong in the fourth quarter of 1985. This represents a significant drop when compared with the third quarter (4,360 delegations comprising 12,245 people), probably reflecting the tightening of controls on foreign exchange spending by China. At the end of 1985, there were 4,110 PRC officials working in Hong Kong, compared with 2,522 at the end of 1984.
Investment
(a) Hong Kong's investment in China
In
27.
The Chinese government has recently changed certain aspects of its policy towards joint ventures. an attempt to attract more large scale investment projects, especially those involving advanced technology, the maximum duration of joint ventures has been extended from 30 years to 50 years. On the other hand, following the bankruptcies of a few undercapitalised ventures in the Shenzhen Special Economic Zone and concern over the drain on loans from the Bank of China, the Chinese authorities issued new guidelines specifying the amount of registered capital required for equity and cooperative joint
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