GF 323
CONFIDENTIAL ##
機密
-
10
21.
According to Mr Zhang, besides Shenzhen
University, there were one technological institute and eight technical training institutes in Shenzhen providing vocational training at intermediate levels.
22.
At the end of 1987, there were 1,133 foreign interest enterprises registered in Shenzhen, of which 611 were equity joint ventures, 447 co-operative joint ventures, and 75 wholly foreign-owned enterprises. Pledged foreign investment amounted to US$3.87 billion, of which US$1.43 billion had actually been utilised. Of all the realised investment, US$630 million or 44% related to industrial production. In the first eight months of this year, Shenzhen signed 403 contracts with foreign investors (+67.2% over the same period in 1987) involving a total contracted value of US$264 million (+52.3%), of which US$261 million (+31.5%) had been realised. So by the end of August 1988, total realised direct foreign investment in Shenzhen amounted to US$1.7 billion. But this amount of foreign investment was small when compared with the total investment (mainly in infrastructure) so far undertaken by the Chinese in Shenzhen, which was in the
(10) region of Rmb 10 billion (roughly equalled to US$4 billion(11)). According to Mr Yang, foreign investments in the form of joint ventures and wholly-owned enterprises accounted for 20% of Shenzhen's exports and over 50% of its industrial production.
(10) According to a press report, total investment so far undertaken by the Chinese in Shenzhen was in the region of Rmb 24 billion (roughly equalled to US$9.6 billion), much higher than the figure of Rmb 10 billion given by the official in Shenzhen.
(11) Converted at the average of the official exchange
rate of Renminbi against the US dollar in the past ten years (1979-88).
CONFIDENTIAL ##