CONFIDENTIAL #
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investment in Shenzhen's industrial sector has firmed up. A total of 92 industrial projects involving foreign interests were approved in the first half of this year. Pledged investment in these projects accounted for more than 90% of the total pledged investment, at US$320
Present indications are million, agreed in this period.
that although one of the main objectives of the SSEZ, namely development into a high technology centre, has not been met, it, together with the counties in the Pearl River Delta region, is clearly becoming an export processing zone.
19.
As regards the SSEZ's infrastructure, the most widely publicized recent development is the initial go-ahead signal given by the State Council and the Central Military Commission for the construction of the Shenzhen airport. Baishizhou has apparently been identified as the preferred site for the airport, subject to detailed feasibility studies. According to the preliminary plan, the first phase of the airport project will involve the building of a 3 400-metre runway and the installation of a navigation system capable of handling aircraft such as the Boeing 747 and MD-82. Its completion date is tentatively set for 1991, and it will initially cater mainly for domestic flights. The Shenzhen authorities estimate that the first stage of the airport project would cost Rmb 200 million. On the face of it, both the completion date and the cost estimate in the preliminary plan seem optimistic.
20.
Recently, there was a proposal for reforming
Consideration was
Shenzhen's land management system.
being given to leasing out land through public
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