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Tai Hing Co. Ltd. for HK$123 million for use as staff quarters. The latter bought a commercial building, Taikoktsui Centre, in Tai Kok Tsui from Great Eagle Co. Ltd. for HK$260 million.
Concluding remarks : implications for Hong Kong
45.
China's economy remained buoyant in the third quarter of 1988, but the high and accelerating rate of inflation was an increasingly serious problem. Future prospects for economic reform generally and for price reform in particular are uncertain. The decisions at the 3rd Plenary Session of the 13th Party Central Congress point to a pause in the price reform programme and to a greater reliance on administrative measures to correct economic disorder and restore economic discipline. Also in the third quarter, it seemed that high inflation was beginning to exert some adverse effects on China's visible trade balance as resources appeared to be shifted to the domestic sector from the external sector and more imports appeared to be allowed in to provide a partial relief to the pressures arising from excessive demand over supply.
46.
Notwithstanding the high rate of inflation, the prices of imports from China remained fairly stable in the
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