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21
30.
(c) China-related banks' activities in Hong Kong
deposits
During the third quarter of 1991, customer
with China-related banks in Hong Kong increased at
a rate faster than the deposits with all licensed banks.
This was especially notable for Hong Kong dollar deposits
during July and August, when unfounded rumours concerning
several banks led to a shift in deposits to the
China-related banks. During
* the same quarter, domestic
loans extended by China-related banks in Hong Kong also
increased significantly faster than domestic loans from all
licensed banks.
(IV) Investment
(a) Hong Kong's investment in China
31.
Hong
Kong remained the largest source of external
investment in China. The following are examples of the
deals reported in recent months:
-
Meiner Investment, a joint-venture between Hong
Kong Macau Development Co. Ltd. and another Hong
Kong company, has agreed to buy a 90% stake of
the 43-floor Shenzhen Development Center at a
price of HK$397.5 million. Construction of the
building has already been completed, with
interior fitting and decoration expected to be
completed next year.
Tin An China Investment Co. Ltd. is investing
HK$60
developing
million
in
commercial-cum-residential
The
Chinese partner will
meet the removal costs.
a
project in Guangzhou.
provide
the land and
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