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Page No. 3 of 9 pages
Special Economic Zone; (SEZ)
6.
A contract has been signed between Mr. Gordon Wu,
head of the large and successful Hong Kong development company,
Genel Manager of the Shenzhen "SEE Hopewell Holdings Ltd., and the Mayor of Sherren LIANG Xiang, Development Conforting Sun Mayeng
for the development Pa 30 sq. km. site in the SEZ as a "new town". The agreement is reported to run for 30 years and to envisage an initial investment by Hopewell of some HK$2,000 m. (with the possibility, according to press reports, of the total
Mayor of Shenzhen. investment reaching HK$10,000 m.). LIANG Xiang/announced that the first phase of the project would include a railway station, bridges, gasworks, waterworks, transformer stations and a government office building. The sum respresented by the initial investment alone is almost equal to the total so far invested or committed by all other foreign firms in the SEZ over the last two and a half years, while the area involved is about one-third of the total proposed for development. Despite an interview between the Political Adviser and Mr. Wu, many aspects of this deal remain obscure : for example, what will go into the new town apart from the infrastructure; it will relate to the other areas of the SEZ; and whether Hopewell will itself finance the project or raise funds from other parties. Mr. Wu said that he would be discussing the project further with officials in Beijing.
7.
how
During the interview, Mr. Wu also confirmed that he had in fact signed a letter of intent with the Guangdong authorities for the construction of a major new highway network linking the Shenzhen and Zhuhai SEZs (and hence Hong Kong and Macau) with Guangzhou (para 12, August 1981 Report): a team of Hong Kong consultants was already engaged in a feasibility study. The network would involve a road crossing (by bridge or tunnel) of the estuary of the Pearl River.
/ 8.
G.F. 316
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