G.F. 324
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B52.
Foreign investment and loans are being sought for the construction of a steel plant on a 1.3m sq m site in the Huangpu
Economic and Technological Development Zone, Guangzhou. The project will be designed to have an annual capacity of smelting
820,000 tonnes of steel, 784,000 tonnes of hot rolled steel and 200,000 tonnes of cold rolled sheet steel. Foreign investment
is also being sought for a Y43bn steel plant to be constructed at Donghai Island, Zhanjiang, which is planned to start production in 1995 and to reach an annual output of 3m tonnes of
sheet steel in 2000 (CDBW 3 Oct).
Guangdong/Hong Kong
(see also Section D - Shenzhen)
C1.
According to various Chinese press reports, about one
third of Guangdong's industrial output is exported through Hong Kong. 80% of the province's foreign trade exports, with a total
value of US$18,460m in 1992, went through Hong Kong and Macau.
Hong Kong and Macau investors have so far set up over 30,000
enterprises in Guangdong employing 3 million people. 80% of
overseas investment absorbed by Guangdong originated from Hong Kong and Macau. The output value of the more than 3 million Guangdong employees of overseas funded enterprises, has reached
one third of the total industrial output value of Hong Kong and
Macau. Officials were quoted as calling for more meetings
between Hong Kong and Guangdong to exchange experiences on service facilities and managerial experience (CD 15 Oct, 5 Nov,
SD 10 Nov).
C2.
Hong Kong businessman Tsang Hin-chi was awarded an
Honorary Doctorate of Zhongshan University at a ceremony
attended by former Education Minister and Director of the
Academic degree committee of the State Council He Dongchang. 67
students received awards of Y2,000 or Y1,000 each from a fund
established by Tsang Hin-chi with a donation of HK$2m (SD 14, 15
Oct).
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