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Page No. 4 of 9 pages
1.0.
There have been press reports that the Guangdong authorities are seeking the aid of foreign investors (including two Hong Kong firms) to design and construct a major highway network linking Guangzhou, Hong Kong and Macau, The project would be a very large one, including extensive bridge construction and possibly a tunnel under the mouth of the Pearl River, and it is not clear how the
foreign firms would recover their investment.
11.
Also reported in the press is an agreement in principle by Holiday Inns to construct a $165m. 500 room hotel in the Shenzhen SEZ. Pepsi Cola is reported to be building a $41m. bottling plant there, the product being primarily for export. Coca Cola had previously declined a site.
12.
In the Shekou Industrial Zone, the Hua Jay Joint Venture
Co, set up by the China Merchants Steam Navigation Company (CMSN) and a U.S. estate development firm, is to build eight four-storey
factory blocks at a cost of $100m. for letting to foreign firms for light industrial purposes on a 25 year lease. Officials from the Chinese Ministry of Petroleum are to visit Shekou shortly: this fact, together with contacts and visits made by CMSN officials to Hainan, may indicate that plans for Shekou to play an important part in oil exploration are advancing. The CMSN are also hoping to set up a hover ferry service between Hong Kong and Shekou, to be run by the Hong Kong Yaumati Ferry Company, as well as a through coach service from Hong Kong.
13.
Guangdong is taking steps to facilitate advertising by foreign investors. Rates for hoardings are being standardised and a company has been formed to provide, in collaboration with a Hong Kong firm, market research requested by clients.
/para 14.
G.F. 316
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