(..T. G
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projects previously agreed, utilized foreign capital amounted to US$489.3 million in 1986, representing an
increase of 48.6% over 1985. Of this total, US$364.5 million was direct investment by foreign enterprises,
mostly in industrial projects, US$108.6 million was in the form of loans, and the remaining US$16.2 million was in
the form of commercial credits.
24.
In respect of infrastructural development in the
SEZS, continued emphasis is being placed on rationalizing the pace of infrastructural construction to support
industrial growth. In 1986, the level of investment in infrastructure in Shenzhen was reduced by nearly Rmb 1
billion. 72 projects not related to industrial production were delayed or cancelled. It was also decided that
projects involving the development of new areas as well as the construction of restaurants, hotels and high-rise
buildings would not be permitted in the next two to three
years.
25.
In 1986, the total value of Shenzhen's
industrial output amounted to Rmb 3.6 billion (around US$1 billion), representing an increase of 33.3% in real
terms over 1985. Exports from the Shenzhen SEZ totalled US$670 million in 1986, 19% higher in money terms over
1985. For Guangdong province as a whole, industrial output increased by 13.6% in real terms in 1986. The
growth in exports from Guangdong was more rapid, at 39.2% in money terms, to US$4.25 billion (7). In 1986,
(7)
By comparison, Shanghai's exports (referring only to those originated in the Shanghai municipality) grew by 7% to US$3.6 billion in 1986.
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