CONFIDENTIAL
Stock Market
Market extremely active. Hang Seng Index reached all-time high in
1986.
Land
Prices buoyant. Highest ever price realised at an auction for a piece of Hong Kong land (part of former Victoria Barracks site) was
realised at auction in 1986. Planned developments for all types of property have risen substantially in 1986. Following successful
work of Land Commission, land leases now available for land
everywhere in Hong Kong up to the year 2047.
Major Projects
Second cross harbour tunnel, to cost $3 billion, scheduled for
completion 1990, being financed, built and operated by private
sector: impressive demonstration of confidence in HK's future.
Another new tunnel link under Tate's Cairn
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Light rail transit system Tuen Mun Yuen Long
completion 1988.
under study.
scheduled for
A further privately-financed container terminal is under
construction at Kwai Chung, already the world's third largest
container terminal.
New towns: HKG spending $3 billion per year on the seven new towns,
one almost as large as Manchester, others comparable with Bristol or
Leeds.
Plans for third University well under way.
Optimism
World-wide Gallup opinion poll showed Hong Kong people the most
optimistic in the world at end 1986. 57% of HK people thought 1987
would be better than 1986, only 12% expected it to be worse. 55% of
HK people expected 1987 to be more prosperous than 1986, only 15% thought it would be less so. (Gallup/Marketing Decision Research survey, published in SCMP on 2 January.)
CONFIDENTIAL