FRIDAY, DECEMBER 20,
HK POPULARITY WITH JAPANESE INVESTORS GROWS
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JAPANESE COMPANIES ARE INCREASINGLY AWARE OF HONG KONG'S ADVANTAGES AND ATTRACTIONS FOR INDUSTRIAL INVESTMENT, THE DIRECTOR OF INDUSTRY, MR JOHN YAXLEY, SAID TODAY (FRIDAY).
SPEAKING AT THE OPENING OF THE NISSIN FOODS COMPANY LIMITED AT TAI PO INDUSTRIAL ESTATE, MR YAXLEY SAID JAPANESE COMPANIES PLAYED AN IMPORTANT ROLE IN HONG KONG'S MANUFACTURING SECTOR, WITH 59 WHOLLY-OWNED AND 62 JOINT VENTURE FACTORIES.
+JAPAN IS THE SECOND LARGEST SOURCE COUNTRY FOR OVERSEAS INDUSTRIAL INVESTMENT, AND ACCOUNTS FOR 21 PER CENT OF THE TOTAL, AMOUNTING TO ABOUT $2 400 MILLION.
+SINCE APRIL THIS YEAR, NEW INVESTMENT AND RE-INVESTMENT FROM JAPAN HAS TOTALLED $160 MILLION. DEPARTMENT IS ASSISTING WITH 30 OTHER PROJECTS WHICH ARE STILL
IN ADDITION THE INDUSTRY IN THE PLANNING STAGE.
+ THERE ARE GOOD CHANCES THAT FURTHER INVESTMENT IN THE ORDER OF $100 MILLION WILL BE ATTRACTED TO HONG KONG OVER THE NEXT FEW MONTHS.+
HE NOTED THAT JAPANESE BUSINESSMEN HAD ALWAYS SHOWN CONFIDENCE IN THE FUTURE OF HONG KONG AS AN ATTRACTIVE AND PROFITABLE PLACE IN WHICH TO DO BUSINESS.
+THERE ARE MORE THAN 800 JAPANESE CORPORATIONS IN HONG KONG, AND THE IR OPERATIONS SPAN THE ENTIRE SPECTRUM OF OUR ECONOMIC LIFE.
+F IFTY-THREE JAPANESE BANKS AND THE IR ASSOCIATED DEPOSIT- TAKING COMPANIES, AND 12 LEADING JAPANESE SECURITY HOUSES HAVE SET UP OFFICES IN HONG KONG, HE ADDED.
+EIGHT OF THE LARGEST JAPANESE INSURANCE COMPANIES UNDERWRITE RISKS IN HONG KONG'S INSURANCE AND REINSURANCE MARKETS AND ALL MAJOR JAPANESE SHIPPING COMPANIES ARE ALSO REPRESENTED.
+JAPANESE COMPANIES ARE PROMINENTLY REPRESENTED IN HONG KONG'S CONSTRUCTION INDUSTRY AS WELL.+
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