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(e) a 20% stake in Hong Kong Telecommunications
(f)
acquired for HK$10 billion in 1989;
49% of the Tylfull Co. Ltd.'s issued share
capital of HK$91.598 million. This company is listed in the Hong Kong Stock Exchange;
(g) a 35% stake in Hong Kong Petrochemical Co.
Ltd., which has a total investment of
HK$1.17 billion.
CITIC (HK) was the most active PRC-interest company participating in major investment deals in Hong Kong during
the past five years. However, a large proportion of its investment was in the nature of portfolio investment,
rather than direct investment.
21.
China Travel Service (HK) Ltd.
China Travel
Services (HK) Ltd. has 13 branches,
more than 20 subsidiaries, and a staff of more than 8 000.
The group handles more than 2 million local and foreign
tourists every year. In addition to tourism, the group has other businesses including cargo transportation and
storage, trade, hotel operation, aviation and automobile
services,
construction and interior decoration, advertising, publishing and computer technology.
Concluding remarks
22.
Although the PRC-interest companies often claim
that they have increasingly assumed a modern corporate outlook in its management system and company structure,
outsiders generally know very little about their actual
business operations. Their presence in Hong Kong should
nevertheless be viewed from a positive angle.
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