14.
CONFIDENTIAL #3
iii)
- 7 -
CITIC'S acquisition of a share in CPA was to introduce some of CPA's management
capabilities to CAAC.
para 9: it was noted that Cable & Wireless
were involved in the development of the
optical fibre communications system.
iv) para 15: it was noted that implementation of
the bankruptcy law was still held up because
the law on state-owned enterprises had not
even been tabled at the recent NPC.
v)
para 18:
it was noted that the figures on
foreign investment might not include certain
forms of business co-operation in the Pearl
River delta, such as outward processing
arrangements.
vi) para 22:
PAS(ES)E noted that it was not
clear what exactly was meant by the Chinese
announcement that exchange rates in the SEZS
would be determined to a greater extent by
market forces.
CS suggested that efforts be made to try to establish
figures on the employment created by Hong Kong concerns operating in China. PA noted that the paper gave a percentage breakdown of Hong Kong's share of imports into China, and suggested that there should be a similar breakdown of Hong Kong's share of exports
from China.
Action: SES
G.F. 316
CONFIDENTIAL #