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8
The Bank of
China Tower and the China Resources Building
are two important landmarks symbolising China's property investment in Hong Kong.
16.
The PRC-interest companies own and manage several
hotels in Hong Kong. For example, the Metropole Hotel,
Harbour Hotel, New Habour Hotel and Windsor Hotel are owned
by the China Travel Services; the China Merchants Hotel is
owned by the China Merchants (Holdings) Co. Ltd. These are
basically hotels in the lower to middle price range each
with around 300 rooms or less. Their business has expanded
significantly since 1988 when the Taiwan authorities
relaxed control on
Taiwan residents visiting China. Most
of them stay in Hong Kong for just one or two days on their
way to and from China.
These hotels are often the
favourite choice of these visitors because of their
generally cheaper tariff rates.
Activities of selected major PRC-interest companies in Hong
Kong
17.
Apart from the China-related banks and financial
institutions which have been discussed earlier in paragraph
it may be useful to look into the activities of several other major PRC-interest companies in Hong Kong.
12,
18.
150
its
China Resources (Holdings) Co. Ltd.
China Resources (Holdings) Co. Ltd. has more than
enterprises under its direct control. The group has
Own merchandise fleet, pier, wharf, oil depot,
department stores and supermarkets. It has more than 400
distributors and franchised agencies in Hong Kong and has
business contacts with more than 4 000 companies. In 1989,
group handled HK$150 billion worth of trade,
representing about 13% of the value of Hong Kong's total
external trade. In the same year, the business turnover of
the
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