1
JAPANESE INVESTMENT IN HK SIGNIFIES CONFIDENCE
* * * * * *
INVESTMENT
IN HONG KONG THE DEPUTY
THE INCREASING PRESENCE OF JAPANESE SIGNIFIES THEIR CONFIDENCE IN THE FUTURE OF THE TERRITORY, DIRECTOR OF INDUSTRY, MR WILFRED WONG, SAID TODAY (TUESDAY).
"JAPANESE INVESTMENT SPEAKING AT A SEMINAR ENTITLED KONG IN THE 1990'S" CO-ORGANISED BY THE HONG KONG FOUNDATION
LINGNAN COLLEGE, MR CENTRE FOR ASIAN PACIFIC STUDIES OF JAPAN
OF SOURCE A SIGNIFICANT BORNE
THE OUT BY
FINDINGS INVESTMENT TO HONG KONG, AS SURVEYS CONDUCTED BY THE INDUSTRY DEPARTMENT.
HAD
ALL
ALONG
BEEN
IN HONG AND THE
WONG
SAID
INDUSTRIAL
OF
ANNUAL
ACCORDING
TO THE LATEST SURVEY, JAPANESE INDUSTRIAL INVESTMENT AT THE END PER CENT OF MILLION, REPRESENTING 29.1 INVESTMENT IN HONG KONG.
THE
CUMULATIVE
OF 1989 STOOD TOTAL OVERSEAS
VALUR OF AT $8,642 INDUSTRIAL
WHICH
INDUSTRIAL
"IN THIS CONNECTION, JAPAN IS A CLOSE SECOND TO THE USA,
KONG'S TOTAL OVERSEAS ACCOUNTED FOR 31 PER CENT OF HONG INVESTMENT," HE SAID.
MR WONG SAID JAPAN'S CUMULATIVE INVESTMENT IN 1989, MILLION, WAS MORE THAN DOUBLE THE AMOUNT RECORDED IN 1986.
AT $4,002
OF OVERALL TOTAL DURING THE SAME PERIOD ITS PERCENTAGE SHARE
POINTS, AND THE GROSS OVERSEAS INVESTMENT GAINED 8.6
ADDITION ΤΟ WAS MANUFACTURERS
$624 MILLION, THE FIXED ASSETS MADE BY JAPANESE
THE RECORD HIGH OF SECOND LARGEST ADDITION IN A YEAR AFTER
$1,026
MILLION IN 1988.
"AT THIS
CURRENT
RATE OF
THERE INVESTMENT,
HAVE BEEN
BEFORE TOO
SUGGESTIONS THAT JAPAN MIGHT REPLACE THE UNITED STATES AS THE LARGEST OVERSEAS INVESTOR IN HONG KONG'S MANUFACTURING INDUSTRIES LONG, HE SAID.
H
WONG
THE
HAD IDENTIFIED
HONG KONG WHICH INVOLVED
180 JAPANESE
MR
SAID
INDUSTRY DEPARTMENT MANUFACTURING ESTABLISHMENTS IN INVESTMENT.
WHOLLY-OWNED BY
A
OF THESE 180 COMPANIES, 100 (56 PER CENT) ARE JAPANESE INTERESTS, NINE (FIVE PER CENT) ARE JOINT-VENTURES WITHOUT LOCAL INTEREST AND 71
PER CENT) ARE JOINT-VENTURES INVOLVING LOCAL INTERESTS.
(39
REPRESENTING SOME
THEY TOGETHER EMPLOY MORE THAN 26,000 STAFF, 3.6 PER CENT OF HONG KONG'S TOTAL MANUFACTURING WORKFORCE.
INVESTMENT
THE MOST JAPANESE
CLOTHING, AND
THE INDUSTRIES WHICH ATTRACTED INCLUDE ELECTRONICS, ELECTRICAL PRODUCTS, TEXTILES AND WATCHES AND CLOCKS.
/JAPAN ALSO