CONFIDENTIAL ##
3
provincial
enterprises
which have become very active in recent years after the de-centralisation of trading rights
to provincial authorities.
Competition among the
PRC-interest companies themselves has spurred growth in
China's trading activities and has changed radically the formal structure of China's economic presence in Hong Kong.
5.
companies
to
one
During the 1980s, many more PRC-interest
came to set up business in Hong Kong. According
estimate, the number of these companies has
increased to several thousand by mid-1991(1).
these newcomers, China International Trust and Investment
Corporation (HK) Ltd. (CITIC (HK)) and Everbright Industrial Corporation are probably most widely known.
Overall position of China's investment in Hong Kong
6.
Among
Only very scattered information is available
concerning the overall position of China's investments in Hong Kong. A figure cited in April 1984 by Wang Guangying, the then Chairman of the Everbright Industrial Corporation,
was that, in the five years between 1979 and 1984, China had invested US$4 billion (around HK$31 billion) in various
economic sectors of Hong Kong, through 50 representative and trade offices established in Hong Kong and involving
more than 300 projects. But this figure of US$4 billion
was probably not very comprehensive. Quite obviously it had not included the substantial investment by China in Hong Kong prior to 1979. On the other hand, part of this investment of US$4 billion might only be pledged rather
than actually utilised, particularly for those projects which were still in the planning stage at that time.
(1) Another estimate, given by the China Enterprises Association which was inaugurated only in June 1991, was somewhat above a thousand.
CONFIDENTIAL
機密
No comments yet.
Private notes are available after approval.