CONFIDENTIAL
8
in
8.
BUSINESS ITEMS:
Shenzhen to build airport: Wen Wei Po reported that the Shenzhen authorities had set up an office to study the feasibility of building an international airport in the Special Economic Zone. Work had already started on finding the site of the airport and on studying the possibility of attracting foreign investment. A possible site was in Deep Bay where the Shekou Industrial Area and the logistics base for South China Sea oil exploitation were located.
The Standard and SCMP both carried the news that an international airport would be built in the Shenzhen special economic zone and a project office would soon be set up. A senior Government aviation official was quoted saying he believed China had in mind a small regional airport for cargo transport: building an international airport on the scale of Kai Tak would be financially prohibitive. A feasibility study on a new airport for HK was under way and was due for completion by the end of this year. The Standard said no mention had been made in Wen Wei when construction would begin or when it would be completed. The Standard of December 28 reported that a heliport was to be build at Shenzhen to facilitate oil exploration in the South China Sea.
Pact on Development: Ta Kung Pao said the Zhuhai authorities had recently signed an initial agreement with a local consortium on developing an area close to Macau as an industrial zone and a holiday resort. Pending approval of the State Council, work would begin in the first half of next year. Total investment would be as high as US$1 000 million.
Vote of confidence:
Ta Kung Pao said the HK$300 million loan repayable over five years from the Bank of Tokyo to Shun Tak Shipping Company for construction of the new Macau ferry wharf and the commercial development above it was yet another vote of confidence in HK's prospects. The general manager of the HK branch of the bank hoped the loan would help stabilise local residents' confidence.
Lord Kadoorie says have faith: Excerpts from CLP's annual review by its chairman, Lord Kadoorie, were published as a full-page advertisement in all major newspapers, including the left-wing Wen Wei Po and Ta Kung Pao. In the review, Lord Kadoorie stressed that the people of HK must have confidence in themselves and their future. He believed that the present uncertainty was temporary and, as in the past, HK would succeed in overcoming its problems. He also expressed confidence in HK's future and in its continuing good relations with China. The confidence was reflected in the company's long-term development plans.
Cross-harbour_bridge_profit guaranteed: The SCMP reported exclusively that attractive terms virtually guaranteeing profits before 1997 were likely to be offered as an incentive to developers willing to build HK's new harbour crossing.
CONFIDENTIAL
No comments yet.
Private notes are available after approval.