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Quality Control Association. The Association has recently written to the

Hong Kong Consumer Council, proposing exchange visits and cooperation on

consumer affairs. It has further been suggested that the Association is

interested in setting up its own Guangdong Consumer Council.

Guangdong shipyard builds oil rigs under US licence

12. A memorandum of understanding was signed in Singapore on 6 March

between the Guangdong Shipbuilding Corporation and the American Bethlehem

Steel Corporation on the building of oil rigs in China under a licensing

The agreement is expected to cover the construction of at

least four "jack-up" rigs, each costing US$25 - 30 million, for delivery

before the end of 1982.

arrangement.

Chinese electronics company joint-venture in Hong Kong

13. Hua Yuan, the Hong Kong agent for China National Light Industrial

Products, recently formed a joint-venture with a local electronics

manufacturer, Tele-Art, to produce integrated electronic microcircuits

at a factory on the Taipo Industrial Estate. The joint venture, Hua Ko Electronics, has an initial capital of HK$60 million and equity is

split equally between Hua Yuan and Tele-Art. The factory is expected to

be in production by November this year and the company envisages a

return on its initial investment within four years.

Political Adviser's Office

31 March 1981

G.F. 324

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