GF 323
CONFIDENTIAL #
18
there were serious shortages of key industrial raw
materials including rolled steel, metal products,
chemicals and construction materials.
28.
There is a concern that the recent rectification
campaign may have adverse implications on economic
development in Guangdong. For instance, if the State
Council's decision in October about setting price ceilings
on the above-state-quota production of essential raw
materials like copper and steel is effectively carried
out, it will hit Guangdong hardest because compared with
most other provinces, Guangdong has de-regulated so much
that about 70% of its raw material prices are now
determined by market forces. Also Guangdong's
achievements are envied by many inland provinces which
accuse the central government of giving it an unfair advantage by granting it economic autonomy.
29.
The economy of Shenzhen City (including the
(21) Special Economic Zone) recorded rapid growth in the first three quarters of 1988. During this period gross industrial output amounted to Rmb 5.95 billion (+50% over
the same period in 1987) and retail sales to Rmb 3.72
billion (+79.1%). Of the industrial output produced in Shenzhen in the first three quarters of 1988, about 51.5% or Rmb 3.07 billion was exported. This was 53.9% higher than in the same period last year. In the first eight months of this year, Shenzhen signed 403 contracts with foreign investors (+67.2% over the same period in 1987) involving a total contracted value of US$264 million
(21) The Shenzhen Special Economic Zone (SSEZ) is part of
Shenzhen City. The statistics reported here are at current prices and refer to the City as a whole. But the share of the SSEZ in these totals is believed to be pre-dominant.
CONFIDENTIAL
機密
No comments yet.
Private notes are available after approval.