G.F. 316
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Page No. 3 of 11 pages
Commodities Trade Fair in Guangzhou to promote foreign trade and to offer its services to other provinces and industrial bodies seeking foreign trade.
7.
An American based company owned by an unnamed former Prince of Iraq, DEMA Oil of Texas (sic), has been negotiating unsuccessfully to co-operate with Guangdong provincial authorities to build an oil refinery at Huangpu, Guangzhou. The proposal was shelved as the capital outlay required was too large. However, the company has expressed interest in oil exploration in the South China Sea and has made overtures to the China Merchants Steam Navigation Company (CMSN) through the China International Trust and Investment Corporation in Hong Kong with a view to supplying logistical base facilities at Shekou. CMSN's reply was not enthusiastic on the grounds that, although discussions have been held with the Ministry of the Fetroleum Industry on the issue of an oil logistic base at Shekou, CMSN has received no relevant directive. CMSN has complained that the current situation in China is chaotic and that policies are changed at frequent intervals.
8.
The China North Industrial Corporation (NORINCO), in Beijing has contacted the Sino Communications Co. Ltd., in Hong Kong with a view to selling explosives. NORINCO also appears to be trying to find overseas markets through this company for Chinese arms and
ammunition.
9.
A deputation from Consolidated Gold Field Ltd. of London plans to visit Beijing during May 1981 to give presentations and hold discussions on the production of gold and other base metals. Negotiations for this visit have been conducted through BOC in Hong Kong, indicating that BOC's role in China's 'Four Modernisations' extends beyond finance to international liaison in industry.
/Shipping
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