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CONFIDENTIAL * *
10
Table 7
response, and the prices fetched (in respect of
comparable lots) were appreciably higher in the
second half of 1986 than in the first half. This
suggests that developers were generally optimistic
about the outlook of the property market for 1987,
and probably 1988.
22.
The take-up of sites in the two Industrial
Estates at Tai Po and Yuen Long remained at a high
level in 1986 (Table 7). In October 1986, the Hong
Kong Industrial Estates Corporation raised the
standard land prices for sites in these two estates,
in view of the firming up in land and property prices in respect of industrial accommodation in the
private sector.
Feedback from Industry Department
23.
Some qualitative information on investment
was obtained recently by the Industry Department
during regular factory visits and from general
contacts with industrialists. The information,
which is largely subjective, is summarised below:
(i) Many garment and textiles factories have
invested substantially in new computerised
automatic machines, mostly made in Japan,
in order to increase their productive
capacity. This is partly because of the
need to cope with a larger volume of orders, and partly because of the effect
of the US country-of-origin rules, which
have limited the extent of outward
processing in China;
G.F. 326
CONFIDENTIAL #3
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