CONFIDENTIAL # 3
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Trading Company, with the Hong Kong partner responsible
for HK$47 million of the total investment. The 15-storey
Guilin Hotel which will cost HK$66 million is a joint
venture between the Guilin City Service Company and the Hong Kong Zhao Guan Company Ltd., with each partner responsible for half of the investment. Third, Sun Hung
Kai China Ltd. is about to enter into a HK$150 million joint venture with the Hubei provincial authorities to build the Hubei Foreign Economic and Trade Centre. Fourth, Dairy Farm (Guangdong) Ltd. has signed a HK$137 million contract with Guangdong Food Industry Technical Development Corporation to set up a new joint venture company, International Food Corporation Ltd., which will be engaged in the promotion and development of the foodstuffs industry in Guangdong and other provinces in
China.
17.
The investment projects mentioned in the preceding paragraph confirm the view that Hong Kong's main contribution to date, in terms of serving as an access point for technology transfer to China, is in the areas of construction, hotel management and catering trades, where Hong Kong companies are far more advanced than their
Chinese counterparts.
18.
Hong Kong investors dominate investment in the Shenzhen Special Economic Zone (SSEZ). Latest reports suggest that about US$540 million of foreign investment in the SSEZ had taken place by the end of 1984. About 80% to 90% of this is said to have been contributed by investors from Hong Kong. According to some estimates, investment in the SSEZ accounts for nearly one-third of the foreign investment channelled into Guangdong and about 10% to 15% of direct foreign investment in China.
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CONFIDENTIAL # 3
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