C.F
2
4.
China's financial activities in Hong Kong have
to
also undergone a major change in nature, as a result of
adopting a more outward looking and liberal strategy.
There is apparently a shift in emphasis from the
traditionally China-related banking business (para. 16)
a widely diversified range of financial and related
non-financial activities. Retail banking services have
been actively expanded (paras. 17 and 18), including the
acceptance of deposits in various foreign currencies and
in European Currency Units (ECUs). Other newly developed
activities include:
(i) the mortgage of residential property
(para. 21);
(ii)
participation in property development
(para. 22);
(iii) participation in syndicated loans (paras.
23 and 24);
(iv) investment in or lendings to industrial
undertakings (para. 25);
CONFIDENTIAL #≈