XN000022-1991-03-26 — Page 2

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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