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Mr. Zeng also said that the company had won strong support and assistance from the Hong Kong authorities and friends in industrial and commercial circles.
At the beginning, the company would engage mainly in export trade and that it would invest $400 million in building a wharf in Kowloon Bay mainly for Chinese cargo vessels calling at Hong Kong. This project would be a joint venture between the company and Chukong Shipping Company of Hong Kong (IAD) to cope with the increasing volume of cargo carried here by Chinese vessels.
The company, with a registered capital of $5 million, will ease the workload on China Resources, Wah Yuet and other agents for Chinese products in Hong Kong. (See also SEA LINKS-7D in CNR No. 32)
5.
Guangdong Trust and Investment Corporation
It was reported on February 11, 1981 that the state-owned Guangdong Trust and Investment Corporation (廣東信託投資公司 ) was set to issue shares in Hong Kong.
The face value of each share of the corporation, which had a capital of RMB200 million yuans, would be US$500 or HK$2 000.
The corporation, with six Hong Kong businessmen sitting on its board of directors, would invest in real estate and import-export trade in Hong Kong.
The corporation is an organisation under the provincial government, dealing with all foreign trade investment matters, and has four departments specialising in real estate development, trade, trust and enterprises.
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