G.F. 316
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Page No. 4 of 12 pages
10.
Remittances to China through the CPC Chiyu Banking
Corporation in Hong Kong have risen again since the beginning
of the year, after falling sharply in 1980 (para 6 October
1980 Report). This is probably the outcome of a stricter
enforcement of the restrictions on goods being taken into
China by travellers.
Commerce and Industry
11.
In hopes of retaining the services of qualified staff,
communist undertakings in Hong Kong have recently awarded
salary increases of between 15% and 22%. This increase was
particularly needed by the banks, who had lost a number of
computer staff to non-communist banks where conditions are
better.
12.
As a means of circumventing CPG restrictions on
foreign trade, Fujian and Shanxi Provinces are parties,
actual or potential, to joint ventures in Hong Kong in
association with Hong Kong companies. Fujian already has
its own official company under the aegis of China Resources,
but it is now known that the Fujian branch of the China
National Light Industrial Products Import and Export Corporation
and a Fuzhou plastics factory are both participating in a new
electronics factory on the Tai Po Industrial Estate.
officials of the China Precision Machinery Corporation have
visited Hong Kong, apparently to discuss a proposed joint
venture with the Hong Kong firm of Novel Enterprises.
Shanxi
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/para 13.
J
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