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18.
environment,
In the external sector, Guangdong's exports grew
by 31.8% in US dollar terms in 1992 to US$18.1 billion and
represented 25% of the country's total. Induced by its
robust economic performance and liberal investment there was a substantial and accelerated inflow
foreign capital. In 1992, the total number of contracts signed with foreign investors in Guangdong amounted to pledged and realised values of foreign.
amounted to US$19.9 billion and
These represented increases of 51.8%,
of
12 916, while the
direct investment
US$4.9 billion.
242.4% and 88.2% respectively over 1991.
19.
three
In Shenzhen City, economic growth last year was even faster than in the Guangdong Province. In the first quarters of 1992, Shenzhen's gross industrial output
was estimated at Rmb 24 billion (at constant (1990)
prices), representing an increase of 38.6% in real terms
over the same period in 1991.
Its exports also grew
substantially,
Investment
sustained.
by 43.2% in US dollar terms to
US$18.7 billion in the first eleven months of 1992.
interest in this prosperous city was well
In 1992, 1 561 foreign projects were approved
The values of pledged and realised foreign
direct investment amounted to US$2.5 billion and
US$710 million, representing increases of 110% and 23.3% respectively over 1991.
in Shenzhen.
20.
The first phase of development of the Yantian
Port in Shenzhen, costing around Rmb 1.2 billion, was
currently under construction.
The second phase of
development was estimated to cost Rmb 2 to 3 billion. Two business conglomerates in Hong Kong, Hutchison Whampoa and
Wharf Holdings, were still considering whether to jointly develop and operate the 12 container berths and 10 general cargo handling berths at the new port, or to undertake the project separately.
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