TNAG-1873-FCO40-2661-Relations-between-Hong-Kong-and-China-1989 — Page 137

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CONFIDENTIAL

1

16

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Shanghai Construction Bank was planning to raise foreign loans of US$750 million for

17 development projects in Shanghai.

The World Bank planned to provide US$4

billion in loans to China in the coming

two years. About 1/3 of these loans would

be interest free.

26.

(£)

Developments in the vicinity of Hong Kong

Guangdong was the fastest growing province in

terms of gross industrial output in the first three quarters of 1988. Estimated at about Rmb 63 billion, (at constant (1980) prices, excluding output from village-run enterprises), Guangdong's gross industrial output was 33.1% higher in real terms than in the first three

quarters of 1987

Of the different types of

(18)

industrial enterprise in Guangdong, output by Sino-foreign

joint ventures and outward processing plants set up by

outside investors recorded the fastest growth, nearly 70%;

the output of collectives grew by 40% but state

enterprises managed only 17%. The industrial growth rates

for the Pearl River Delta region and the three special

(18) The second fastest growing province in terms of gross industrial output in the first three quarters of 1988 was Fujian recording a year-on-year growth of 30.4%.

CONFIDENTIAL

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