TNAG-1247-FCO40-1561-Press-reports-on-the-future-of-Hong-Kong-1983 — Page 23

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CAMPAIGN TO LURE INVESTMENT

MONEY FROM HK

ADVERTISEMENTS

A total of 72 different advertisers seeking Hong Kong investments in countries overseas and offering emigration consultancy services have been identified in major Chinese-language newspapers in the past two months up to May 10. Some of the 72 have advertised frequently while others have placed the advertisements on more than one occasion.

Of these, about half are real estate agencies who have placed advertisements to promote the sale of property in 16 countries. (USA and Canada in North America; Dominica, Argentina, Paraguay, Barbados, Belize and Costa Rica in Latin America; Thailand, Taiwan and the Philippines in Southeast Asia; Britain, Portugal, Spain and Switzerland in Europe; and Australia). Some of the regular advertisers discerned are real estate agencies in USA, Canada, Australia and Dominica. While advertisements for property investments in developed countries seldom mentioned emigration prospects, agents for housing projects in other countries (e.g. the Philippines, Dominica, Argentina, Paraguay and Costa Rica) often. played on the 1997 question by playing up in their advertisements that permanent residential status would be granted to home buyers and their families. In the case of Dominica, the advertisers claimed that home buyers of flats which cost as little as US$50 000 would be given citizenship within a period of six months to a year. They also claimed that buyers of flats in Phase I of the housing scheme had all obtained residence in the country.

Other advertisements dealt with the following subjects:

* consultancy services and seminars for emigration to USA, Canada and

Australia; some of the advertisers claimed to be lawyers from these countries;

*

business opportunities and investments in a wide range of trades including banking, financing, mining, and stocks;

*

EXHIBITIONS

investment tours to USA, Canada, Australia, Spain and South American countries; at least two tourist agencies claimed that HK residents,

who join their US$4 800 package tour to Argentina and Paraguay, can obtain permanent residence in these two countries within 40 days. (clippings of these advertisements are in enclosure).

Since Mrs. Thatcher's visit to China last September, two large-scale property exhibitions designed to lure investment away from HK have been staged here. Immediately following Mrs. Thatcher's Beijing trip, an exhibition of real estate investments in Taiwan was held in City Hall. It was reported that over 100 000 people visited the show. Of these about 2 000 expressed interest in investing in Taiwan. The right-wing Kung Sheung Daily News said editorially that the good response was due the fact that local residents lacked confidence in HK's future.

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