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t
million for re-development.
Third, a PRC-interest
financial group was reported to have taken part in the buying of a group of old but re-developable buildings in
Wan Chai and Tsim Sha Tsui involving a total stake of
HK$200 million.
40.
Apart from these realised investments, China
Merchants Holdings Co. Ltd. made known its intention to
bid for Container Terminals 8 and 9 and Guangdong
Enterprises expressed keen interest in developing the site
currently occupied by the desalination plant at Castle
Peak into a wharf and godown area. It is estimated that
the latter project, if realised, would involve a total
stake of HK$10 billion.
(V) Concluding remarks : implications for Hong Kong
41.
China's economy remained buoyant in the fourth
quarter of 1988. Although the rate of inflation showed
the first signs of peaking in the last three months of
1988, inflation remained China's most important economic
problem. However, the economic forecasts for 1989 put
forward by the State Council reveal a general concensus among the Chinese leaders for maintaining a reasonable
rate of growth in 1989. In other words, sacrificing most
of the growth for the sake of price stability is
apparently not considered desirable.
42.
Despite the high rate of inflation in China, the
prices of imports from China remained fairly stable in
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