TNAG-2527-FCO40-3696-Hong-Kong-China-Relations-Committee-1992 — Page 69

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27.

The Hong Kong delegation was further briefed by representatives of the

Administrative Committee of Guangzhou Economic and Technological Development

Zone on the latest development in the Guangzhou Economic and Technological

Development Zone (the Zone). The following main points were noted :-

(a) following the approval by the State Council to implement the proposal for

setting up an Economic and Technological Zone in Guangzhou in 1984,

the total investment in the Zone had reached RMB 1.8 billion. 96 km2

of land had been developed to date. Full development of the Zone was

expected to be completed before 2000;

(b) the investment environment of the Zone was considered extremely good

with adequate supply of water, electricity and an efficient communication

system;

(c) the main source of investment in the Zone was from Hong Kong which

accounted for 66% of the total foreign investment;

(d)

so far foreign investment had been concentrated in certain relatively high-

technology industries. Should there be suitable opportunities, the Zone

would also encourage foreign investment in commercial activities.