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Ever Bright: The China Daily of 17 May carried a story about Mr. Wang Guangying of Ever Bright Corporation, who was operating on a tightly-packed schedule from his suite on the 22nd floor of the Furama Hotel. Mr. Wang spoke confidently about setting up a head office in HK. He was quoted as saying the Corporation had a good stack of buying orders from all kinds of manufacturing establishments on the mainland and the primary concern was to purchase and import technology and equipment to help China's modernisation. Ever Bright was not interested in handling exports; he saw a broad scope for import trade into the mainland through HK which he said had excellent financial and communication facilities. The report said before arriving in HK Mr. Wang had briefed diplomats from 17 countries about Ever Bright. He hoped to expand the staff to 150 with his eyes on a HK businessman, whom he declined to name, as general manager. Many important posts would be filled by HK citizens.
The corporation was completely independent and had the power to make all business decisions: he foresaw branches in the US, Europe and Southeast Asia. The equipment the corporation would purchase did not have to be the most advanced, the very best or even new technology; the corporation was prepared to pay even for second hand equipment as long as it served a purpose in China. Mr. Wang was meanwhile looking for an office which
he wanted to buy, rather than rent in order to show his confidence in the future of HK.
Banks in Shenzhen: The Business News of the SCMP on 21 May reported that the municipal government of Shenzhen was considering upgrading the representative offices of foreign banks in the area to branch level, the city's Vice-Mayor, Mr. Zhou Xiwu, said. Mr. Zhou, who said terms and conditions were being worked on, was speaking at the opening of BNPs representative office.
No objection by Britain to sovereignty claim: The SCMP reported on its front page on 18 May that Britain had written to the Chinese Prime Minister, Mr. Zhao Ziyang, saying it would not object to China's entering negotiations on HK's future with the attitude of claiming sovereignty over the territory; the report was attributed to the HK Economic Journal which had also said preparatory talks would begin before next month's British general election and the 6th NPC.
Shenzhen International Exhibition: The SCMP Business News on 19 May reported that the first Shenzhen International Exhibition would be held in September and China would take along a high technology shopping list including micro and minicomputers. The Business News also reported that an offshore oil engineering exhibition would be held at Tianjin, near China's Bohai oilfields, the same month. It was being sponsored by China's Petroleum Corporation (CPC) Offshore Branch and had already received "warm" support from more than 70 international suppliers of oil equipment in various countries, including the US, the UK, France, Japan, Australia and Singapore.
Seven views of HK's economic value to China: On 17 May the Asian Wall Street Journal reviewed "China and HK: The Economic Nexus", a volume of essays edited by A.J. Youngson. A copy of the review by HK-based lawyer, Timothy A. Gelatt, is attached.
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