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CONFIDENTIAL IDENTY
(IV) Investment
36.
(a) Hong Kong's investment in China
The most recent information on foreign
But
investment activity in China released by MOFERT (paragraph 13) did not contain a breakdown by source country,
although it was emphasized in the MOFERT press release
that in 1988 investment in China from many developed
countries (the United States and West European countries)
increased substantially when compared with 1987.
MOFERT figures released earlier suggested that the
cumulative value of realised investment in China
undertaken by companies from Hong Kong in excess of US$6 billion, representing about two-thirds
of the total outside investment in China. The second
largest source was the United States, with its investment
in 570 projects involving a total contract value of US$3.3
(26) billion
(25)
was probably
37.
Two investment items are worth mentioning. First, the Federation of Hong Kong Industries is negotiating with the management authority of the Shatoujiao bonded area on the 'wholesale' development of a 3,700 sq.m. site in which the Federation will be
responsible for introducing foreign-investment projects
(25) Including both local and foreign interest companies in
Hong Kong.
(26) The United States is often identified by the Chinese as the largest source of foreign investment in China because Hong Kong is not regarded as being a true "outsider". For the same reason, notwithstanding the large volume of Hong Kong/China trade (footnote (22)), Japan is often identified as China's largest trading partner, followed by the United States.
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