CONFIDENTIAL ##
11
also promulgated to replace an internal directive issued
at the end of 1985
(7)
18.
As regards the development of Shenzhen
Special Economic Zone (SSEZ), its industrial output recorded a year-on-year increase of 80% in real terms in
the first quarter of 1987. The value of exports reached US$132 million, doubling 1986's first quarter figure. Both of these growth rates are impressive. However, in
the absence of detailed breakdowns of the statistics and
considering the short time reference, it is difficult to
judge whether Shenzhen has now been transformed from an entrepôt to an export-oriented industrial city.
(7) Investment value
Required ratio of registered capital to investment value (%):
Under
Under
the previous
the new
internal
directive
provisonal regulations
below US$3 mn
100
(0)
70
(30)
US$3 mn 10 mn
-
50
(50)
50 (50)
US$10 mn 30 mn
33.3
(66.7)
40 (60)
above US$30 mn
25
(75)
33 (67)
( ) Figures in bracket represent the largest
permissible proportion of debt in total
investment value under the previous internal
directive and the new provisional regulations.
G.F. 326
CONFIDENTIAL # 3
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