6 F 326
20
venture agreement was signed between Howeton (a Hong Kong
firm) and Xinguang Industrial Products Import and Export
Corporation of Sichuan to produce advanced
telecommunication systems to China. In November, the Hong
Kong based Indar group of companies entered into
agreements with China to jointly build four hotels (two in
Shanghai, one in Beijing and one in Xian) involving a
total investment of US$180 million.
+.
In
36.
In January 1986, Lin-Wa Engineering Co. Ltd. a
Hong Kong base joint venture between Ryoden Machinery Co.
Ltd. and China Overseas Building Development Co. made
public a plan to build an international hotel in Suzhou.
The US$18 million project will be 70% financed by the Bank
of Communications (a CSOB) and Mitsubishi Bank Ltd.
February, Shanghai International Leasing Co. (jointly
owned by CITIC, Shanghai Investment and Trust Corporation,
the Shanghai branch of the Bank of China and the Industrial and Commercial Bank of China) signed a co-operation agreement with Trilease (a joint venture
between the Hong Kong branch of the Bank of China, Bank of
East Asia and Societe Generale). The latter will provide
a full package of leasing services and modern management
skills to the expanding leasing markets in the Shanghai area and provinces like Jingsu, Zhejiang, Anhui and
Jianxi. There is also the joint venture between China and
Hong Kong's Hopewell Holdings for the construction of the
Shenzhen-Guangzhou-Zuhai highway of HK$3.3 billion.
37.
Recent reports on investments by Hong Kong firms
in various provinces and/or cities in China include:
(i)
Shanghai: Hong Kong firms have signed 70 joint venture agreements, with a total
pledged investment of US$322 million,
since 1978. These represent 36.3% of
CONFIDENTIAL #3