A good deal depends on the bank you choose We have grown with Hong Kong and as

the largest bank here, we are in t�e best position to assist the businessman. We are able· to off er every service from computerised accounting

facilities to comprehensive Trade and Credit information; Provident Fund schemes and advice on and facilities for Loans Syndication for major capital projects.

Those involved in Import. and. Export and other business overseas also know they can depend on the advantages of using a major international

bank with over 400 offices in 40 countries.

That is why more businessmen turn to us for financial advice than anyone else.

The Hongkong and Shanghai Banking Corporation Head Office: 1 Queen's Road.Central, Hong Kong.

Published by The Hong Kong General Chamber of Commerce Swire House, 9th Floor, Hong �ong Telephone: 5-237177 Chairman NA Rigg Vice-Chairman D.K. NewbiggingDirector J D McGregor, QBE, ISO Editorial Board J D McGregor, QBE, ISO Harry Garlick Francis Tsang

Anthony Tam. Annie Yuen-Yau Lee Production Li York Ling

Printed by South China Morning Post, Ltd., H.K.

© The Hong Kong General Chamber of Commerce.

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Photo credits:

A. P. Williams

Albert Gazeley

Peter Harris

Brian Ackford

J. Forrest

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December, 1978

BUiietin

Director's Viewpoint China We loved You

HAn �nqualified Success .... " The Chamber in China

China - Facts and Figures

What the Leaders thought An interview with Chamber-China-Tour Group Leaders

The Old Order Changes Local and Foreign Companies Hope for Big Opportunities

A Marriage of Differences HK - well placed to take advantage of

China's willingness to use foreign expertise

The People .... Healthier .... More Relaxed

fJtfi:l:��11�:W­iiJ�tr-Ji:pil

Subscription price: HK$2.00

lxm!>E� ��-fil�ffi=jc

3

5

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11

18

20

23·

25

25

27

32

Thinking of Retirement Benefits? For your staff? For yourself?

For all forms of Retirement Benefits and

Group Life Assurance Schemes consult:

GUARDIAN ASSUUNCE CO., LIMITED 2nd Floor, Swire House, P. 0. Box 94, Hong Kong. Telephone:5-233061

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--------------------Director's Viewpoint

China­

We Loved

You

WELL, our Chamber tour group went, saw much and was captivated. Over an all too short period of twelve days our 50 member group travelled to Canton, Hangchow, Shanghai and Peking by air and rail and enjoyed every minute of it.

The trip was the culmination of a year's endeavour and a great deal of discussion with the China Travel Service in Hong Kong. We were really quite an awkward lot with so many requests for visits to specific places to see· specific things and particular people. It could not have been otherwise, given the wide interests of the participants and the fact that many of them knew China quite well, some had been born and educated there, some still had relatives there and all had a great interest in seeing as much as possible of the beautiful countryside, the overall development and of course the many cultural and historical attractions. So, even up to the last minute, we were busy asking the long suffering C.T.S. managers for further revisions in theprogramme. They must have been veryrelieved when our C.A.A.C. Trident finallytook off from Kai Tak for Canton.

From that moment, we were all a happy, if boisterous, family. The view of the Pearl River estuary and the hills around Canton, seen from the air, was striking and of course unfamiliar. Clearance procedures at White Cloud airport were rather confused (no wonder with our ill disciplined niob!) but all was good natured and helpful and we were soon through and into the morn­ing sunshine. As a matter. of fact, we were to experience continual goodwill and a very friendly (although sometimes shy) approach by all the Chinese people we encountered throughout the tour. Old hands were a little surprised, I think, and, newcomers were delighted.

Hangchow is a dream, one of . the most beautiful places I have ever seen. Tourism will probably spoil its present serenity and tranquillity but I have no doubt of the attraction for tourists. Are we to see direct Hong Kong/Hangchow flights? If so, there will be a rush for the ticket office.

Shanghai, like Canton, was noisy and incredibly crowded. We thought Hong Kong was overpopulated but some Shang­hai streets at noon were indescribable. We were told this was due to staggered holi­days for workers and to an incursion of would be shoppers from the suburbs. I am glad we weren't there on a public holiday!

Peking, the magnificent! The grandeur of the monuments, old and new, the obvious vigour of the place, the paradoxes and the awakening hopes of the people -all clear, all enchanting. And after all my careful preparations, I. missed the Great Wall of China to attend meetings with senior Chinese officials - · so did some of the others, placing loyalty to the Chamber higher than selfish delight. Mind you, I spent that day hoping it would rain ·on the remainder of the group at the Wall -it didn't and they all had a marvellous time!

So we returned, jubilant and noisy, all of us endorsing fully the suggestion (made by me, of course!) that the Chamber had done a · great job organising the. tour. I hope the real beauty and essence of China will be shown. in the.· pages of The Bulle tin

this month.

Incomparable China .. 2- We Shall Certainly Return!

3

A Merry Christmas from the heart of Asia. From Cathay Pacific's staff and especially from our flight hostesses, chosen from all over Asia to serve you, we offer the season's greetings.

Hong Kong's discovery airline � CATHAY PACIFIC :,. <

The Swire Group

"An Unqualified Success .... " The Chamber in China

"The tour to China, which was in the nature of an experiment for the Chamber, was an unqualified success. The SO-member group, consisting of some 16 nationalities, mixed extreme­ly well, and many useful contacts were made with the Chinese authorities and with individual organisations." This view, expressed by the Chairman of the Chamber, Nigel Rigg, who was also a leader of the tour, was agreed unani­mously by participants interviewed by the Bulletin.

The visit was organised by the Chamber after suggestions from mem­bers and took over a year to arrange. It was planned originally to cater for 25 people, but as response was overwhelming, the China Travel Ser­vice agreed to double the number. The increase was welcome news to many appl icant5 who would otherwise have been disappointed. Nevertheless, a fairly large number had reluctantly to be turned down. Originally, the Chamber hoped to include Chinese members in the tour. Our request was however declined by the Chinese authorities, on the ground that ex-

patriate and local tourists have differ­ent travelling arrangements.

The participants were all top level executives, and their wives, represent­ing a cross section of the economy -commerce, manufacturing, shipping, i nsu ranee, telecommunications, bank­ing and other services.

The Fortunate Few

They were (in alphabetical order): Brian Ackford, Ready Mixed Concrete (HK) Ltd.: A.J. Brink, Managing Dir­ector, A.P.I. (HK) Ltd.; G.W. Cam, General Manager, Hong Kong & China Gas Co. Ltd.; C.W. Dalrymple Dir­ector, Ashfield Associates Ltd.; Captain J .G. Forrest, Master Mariner, Shipping Executive, Lykes Lines Agency, Inc., HK; A.E. Gazeley, Com­pany Director, Stelux Mfg. Co. Ltd.; Clas Gotz, Managing Director, Kras Asia Ltd.; L. Harris, Managing Director, Peter Harris Ltd.; William Earnest Leong Siu Fai, Manager - Trade Division, Hong Kong General Chamber of Commerce; Michael J. de Lotz, Company Director, Swire Loxley Ltd.; J .D. McGregor, Director, Hong Kong

General Chamber of Commerce; J.E. McMullen, Managing Director, Amoy Canning Corp. (HK) Ltd.; D.A.H. Michael, Company Secretary, Green Island Cement Co. Ltd.; Michael Parker , Research Assistant , Bank of America, N.T. & S.A.; Fritz Pleitgen, Manager, James H. Backhouse, Ltd.; Frederick Pordes, Managing Director, Frederick Pordes & Co. Ltd.; Arthur Rondan, Shipping Manager, Barber Lines H.K. Ltd.; R.D. Rodgers, De­puty Managing Director, Mei Foo Investment Ltd.; Dr. the Hon. Sir Albert Rodrigues, C.B.E., J.P., Medical Practitioner, Chairman - HK Asso­ciation Local Branch· Committee; David C. da Silva, Regional General Manager, Dow Chemical Pacific Ltd.; Michael H. Simond, Import Dept. Manager, Desco (HK) Ltd.; Nelson J. Sousa, Director & General Manager, Dodwell H.K. Buying Office Ltd.; W.M. Sul ke, Chairman, Zung Fu Co.Ltd.; Amarnath P. Tripathi, GeneralManager, Jay Lata & Nelsons Corpora­tion; F.L. Walker, Director & GeneralManager, H.K. Telephone Co. Ltd.;A.P. Williams, Solicitor, Denton Hall &

5

Burgin; W.R.A. Wyllie, Chief Exe­cutive, Hutchison Whampoa Ltd.

One group was led by the Cham­ber's Chairman, Nigel Rigg, and the other by the Chairman of the Inch­cape Group of Companies and past Chairman of the Chamber, Peter Williams.

and other areas of development in China. A small group of businessmen were granted interviews with senior Government officials in Peking.

summed up his view:- "This kind of tour can do nothing but good, and has certainly provided all of us with the opportunity of indicating our own goodwill towards China and Chinese organisations and allowing us to see for ourselves a little of the changing trade and industrial environment of China." The tour, which covered Canton,

Hangchow, Shanghai and Peking was mainly for sightseeing purposes, but as many senior businessmen were in the group, arrangements were also made to visit industrial undertakings, hospitals

This small group led by Mr. Williams was received by Tsou Sze-Yi, Director of the Export Bureau in the Depart­ment of Trade and Wang Yao-Ting, President of the China Council for the Promotion of International Trade. Both officials discussed relevant as­pects of China's trade policies and developments.

The Chamber Chairman, Mr. Rigg

-------China-facts and figures The Hong long and Shartghai Banking Corporation reports.: The Pe.ople's Reirublic of China publishes hardly any national economic statistics, preferring to discuss them in terms O·t percentage increase over a base whi.ch is itself sometimes dubious. However, analysis provides a faMy reliable guide to the country's production and res<>urces; partlcutarly ln forei.gn trade. From 197.S onwards,. the Chinese economy und:erwerut alternating p:eriods of up .. heaval amd stagnatil'>n due to political diisputes> but by 1973, it was possible to make reaoonabty c1'ose estimates of economic performanve:

Population: probably over 900 mitllon, increasing by about 1.S mi1lfion annuatly.

Grain., sQyabeans and tubers: 275 mill:ion metric tons Cotton: 2.3 mil.lion tQns Chemical ferti,lisers: (total su,ppty, including imports� 40

rnilUon tons · ·coal: 4:85 million tons

Crude steel; 21 mililkm tonsCement: 50 million tol"lsElectric power: 1401000 million kitewatt hoursCrude oil: 91 million tmnsTrucks: 120,000 unitsCotton cloth: 81000 million linear metresForeign t.rad.e: HK $06.,.920 mill ion (s.tight irnlrialance in

visible trade redressed by invisible earnings through Hong Kong).

Ja;i:ian Hong Kong West Germany Uniited States Canada Australia lllriitain ltaty France Sovi.et Union

* preklt11iniqry es:tltnate

6

China's t¼il)Otts

81624 8.362 1,fJ97

908 348 .549 959 682* 92.5 $11

China's Imports

10,am, 32

2,218 816

1,574 1,503

S7l 92*453 620

Tbe United States re .. entered the Chlnese grain it::riport market for tne first time in 1978 after a four�,1ear hiatus. Trade with Canada and Australia consists mainly of Ch i:nese grain purchases.. Hong Kong's trade consists principally of imports of good and consumer goods. The other partners generally sell China iindustrial equipment and technology in exchange for raw and semi� finished materials and consumer goods.

Latest statistics available from the Chamber shows:

Hong Kong's Trade With China

1977 1912 1967 1962 1957 19:52

Imports

8,.802 3.,M7 2,.2'82 1,213 1,131

810

Exports

31 21

6 8

123 520

17'5 82 42 77

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An interview with chamber-China-tour Groups leader, Mr. Rigg and Mr. William.

8

Mr. Rigg, what was your overall im­pression of the tour, now that you have come back from China From a personal point of view I was very relieved! The tour was rather in the nature of an experiment, but it turned out to be a great success and everyone obviously enjoyed them­selves. When you get a group of 50 different people, of 16 different nationalities, who are told what to do from the first thirtg" in the morning until the last thing at night, you can be forgiven for anticipating trouble. But everything went off well, and in addi­tion to enjoying ourselves, many very useful contacts were made with the Chinese authorities and with individual organisations. From the point of view of the Chamber, it was an unqualified success.

How about the arrangements made by the China Travel Service? There is no doubt that the whole group was given red-carpet treatment by the authorities and by the China Travel Service throughout. We were allocated the best hotels, and given very good rooms. We travelled everywhere by plane, apart from one short train journey. The arrangements were ex­cellent, and I don't think that any of our group could really find fault. Some members who participated in the tour have suggested that Hang­chow might represent in future a very fine tourist area for people out of Hong Kong, would you agree? Without exception everybody was fas­cinated by Hangchow and arriving there at this time of the year one thought of Keat's poem 'Season of mists and mellow fruitfulness'. It surprised me however that people were so enthusias­tic, perhaps because it was our first stop, and it was the difference from Hong Kong - coming from busy Hong Kong to busy Canton, then to the quiet of Hangchow. You travelled on to Shanghai. What were your impressions of this very bustling city? This to me was the high I ight of the

trip as I'd been looking forward enor­mously to seeing Shanghai. So many old Shanghai friends in Hong Kong have spoken to me about the place and described it in the old days. I wasn't disappointed because it was more or less as I imagined it to be. We stayed in the old Cathay Hotel where one could sense the old days, a feeling of the old atmosphere, and it was, of all the places we visited, the one that seemed to be more alive, more bustling, more go ahead. What about Peking? Well, it's certainly a very interesting city to see. It's got a lot to offer to the tourists, with the Summer Palace and the Forbidden City. One of the major disappointments to me, however, was that there was no guidebook available. There was a magnificent museum in

the Forbidden City, but none of the exhibits were explained in English. The individual cases were numbered but you don't know what was inside them. What did you think of the Great Wall? Now I know what they mean by 'going up the wall'! It was as I imagined it to be. Only part of it has been restored. We all climbed to the very topmost part we were permitted to go and it was not a disappointment. Nonetheless, the Ming Tomb that we saw later was to all of us a little disappointing. Some­body remarked it looked like an old wartime bomb shelter. How would you compare the activity in Canton, say with the activity in Shanghai? The Shanghai street activity is much more intense than it is in Canton, with many more people, many more bicycles and even a I ittle more traffic. One or two of us remarked that the people in Shanghai that we saw on the streets, no matter on which day of the week, always seemed to be just as busy. Were they on holiday? Or had they come in from the provinces? Or were they rotating the labour force? There always appeared to be people about anytime of the day. Canton is not so bqsy.

..

Now that you've come back from China, what is your final impression? I suppose what impressed me most of all is the helth of the people generally in China. Everybody appears healthy, well-fed and in most cases, happy. One has the feeling that the people are re­laxing much more than they have done in the past, that a tremendous advance is under way and we all have the great­est respect in what they're trying to achieve. I only hope Hong Kong can play a part in it.

Mr. Williams, what are your general impressions after visiting four cities

in China? The purpose of the trip was to get a general impression as most of the group, with a few exceptions, had not been to China before. We therefore

were just looking and seeing, getting a feeling for the place and this we cer­tainly did achieve. We started off by being taken almost immediately to Hangchow. This may not be one of the largest business centres in China but it certainly is one of the most beautiful places I've ever been to. The friendli­ness of the people there impressed us enormously and with the beauty of the West Lake and all the things we saw, we suddenly realised we were moving at a different pace; it was a great change of pace from Hong Kong. Do you think there is a great potential lhere for tourism from Hong Kong? I would think so, although in a way where you see people quietly enjoying natural beauty, you almost want to abolish the tourist altogether. Did Shanghai leave you with any particular impression? Shanghai I viewed with mixed feelings. It was obviously a shadow of its former self. At the same time, it was full of people; it was noisy. I'm told that 60 per cent of the people on the street were visitors, not locals. You can feel that things are moving in Shanghai. It's going to be an enormous motive force in the development of China.

You had discussions with senior officials of two of the ministries of the Chinese Government. Did you find cause for optimism from these discussions? Certainly, first of all, the officials themselves were very senior people indeed. They gave us a lot of 'their time, supported by excellent inter­preters and staff. We had frank discus­sions although they didn't respond other than generally to direct ques­tions. Perhaps you can say it was a rather general discussion, but I think both sides were reading between the lines and I came out with the feeling that they understood the points of view we expressed. We were parti­cularly keen on trying to establish their view on Hong Kong, compared to countries overseas. I got the strong

impression that if any one from Hong Kong can offer them what they want to help in their development, we have as good a chance as anybody else. Did it seem to you that there was a greater pace in the move towards modernisation and that new oppor­tunities were therefore being offered to foreign companies? Well of course, it's a declared objective of the new Government to proceed at a pace which I think many fear is too ambitious, but they are obviously very capable and determined. With excellent people in charge, I'm sure they could do very, very well. I hope they don't go too fast and I'm sure that they are proceeding with development with a sense of urgency. How did your wife enjoy her tour of China?

She enjoyed it very much, particularly the north where she was born. She still speaks some of the language; she talked to people and it was really a homecoming for her. Did she buy anything from China? Yes, we bought a few things although we were not as adventurous as some other members of the party.

II

9

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China has embarked on a modern­isation programme of unprecedented proportion aimed at strengthening the country's economy. Chairman Hua Kuo-feng, Vice-premier Teng Hsiao­ping and other very senior leaders have outlined China's goal of raising the economic strength of the country to OECD Level by the end of the century. China's desire to modernise has stirred up something of a fever among Hong Kong businessmen, arid those else­where in the world, in anticipation of increased trade and industrial invest­ment opportunities.

Development and Trade Boom

Over the past months, many trade and industrial contracts have been concluded, or. are under negotiation, with giant companies �uch as General Motors, Rolls Royce and Fiat. In a radical departure from its longstanding policy, Peking reportedly was prepared to consider Government to Govern­ment loans. Talks have been held with major American, UK, French and Japanese banks for massive credit faci­lities. Several local bankers have pre­dicted that by the end of 1980, China will have borrowed at least HK$9,400 million. And very recently it was an­nounced that the UK had in fact made a credit line available to China.

Apart from industrial development, China has been expanding its commer­cial shipping fleet to meet the antici­pated growth in export and import

trade. Through affiliated .shipping firms in Hong Kong, China has sent enquiries to leading shipyards in Japan and Europe for the construction of cargo ships and specialty vessels. For example last month, Peking placed a $450 million order with a Japanese shipyard, Kawasaki Heavy Industries for eight roll-on, roll-off ships.

When the British Trade Minister, Edmund Dell visited China in August, the authorities requested help from Britain in the modernisation of the Chinese railway system, a key aspect of China's economic development. In­formed sources also indicated that China has asked Britain to develop and equip two coal mines which might be used partly tO" supply coal to a new electricity generating plant in Hong Kong.

To finance such massive projects, China must increase its earnings from exports and a rapidly expanding tour­ism industry. In the first six months of the year, exports rose 25. 7 per cent to $22,000 million, with major increases in crude oil, textiles, agricultural pro­ducts and foodstuffs. At the same time, earnings from tourism increased sub­stantially.

International hotel corporations, such as the Hyatt and Intercontinental groups have sent missions to China to study the prospects of building hotels in cities, such as Canton, Shanghai, Nanking, Hangchow, Soochow and Peking. The President of Hayatt International Corporation, Peter Di

Tullio, whose group held a discussion with the Chinese Minister of General Administration for Trade and Tour­ism, Lu Hsieh-chen, last month, indi­cated that China will soon open more cities for foreign visitors, and that the Chinese authorities expect an in­crease of 15 per cent in tourism per year. As far as Hong Kong is concern­ed, the improved transportation faci­lities - the hoverferry service and the direct air link between Hong Kong and Canton with the likelihood of a doubled tracked electrified rail link in the next few years - will heavily encourage increased travel between Hong Kong and China. Tour ism is therefore expected to grow at a quite rapid rate.

Tour groups, such as the one arranged by the Chamber, are effi­ciently organised by the China Inter­national Travel Service in China and China Travel Service in Hong Kong. Recent visitors have all been impressed by the friendly attitude of the people, and the evidence of drastic changes that have been taking place in China.

What substance lies behind the wish that· Hong Kong and the rest of the world will benefit from this massive development?

The Builetin gives h�re an 'exclusive insight into some of the deals or ne­gotiations -'- and the hopes - of mem­. bers who took part in the Chamber's China visit.

Several members of the Chamber group held discussions with senior

11

The Port of Shanghai - " . . . . . great-potential for development.,.

Heavy industry along the waterfront in Shanghai

Chinese officials, including the Direc­tor of the Export Bureau, Tsou Sze Yi, and the President of the China Council for the Promotion of International Trade, Wang Yao-ting. At the meeting with Mr. Tsou, a major issue raised was the relative importance to China of doing business via Hong Kong agents rather than with principals.

"It was quite surprising that Mr. Tsou had a neutral attitud� on this, because, until recently, many of the corporations had preferred to do busi­ness direct," said the Chairman of Zung Fu Co. Ltd., W.M. Sulke.

"Of course,. in most cases, doing business through Hong Kong is advan­tageous for China because of the near­by infrastructure services available. What concerned Mr. Tsou most was how China could buy the best at the cheapest possible price."

"The President of CCPIT, Mr. Wang, made us very welcome, and was very forthcoming. We talked about the role

12

that Hong Kong can now play in China's modernisation programme. The tenor of the interview was very encouraging indeed for Hong Kong."

"We kept our discussions however to generalities. It was more significant, I think, that we were received as a delegation from the Chamber at such high level. This would not have been possible only one or two years ago when policies in China were so different."

Dodwell Plans Rep Office in Peking

The group also made a number of contacts with the Chinese authorities and individual organisations. In some cases, discussions are being held with Peking. For example, Dodwell is actively seeking · to establish a repre­sentative office in Peking.

The Managing Director of Dodwell HK Buying Office, Nelson Sousa, told

"Ships unloading in China at present have to be s elf-sustained so as to lift on and off

containers . . . . . "

The Bulletin that the Chinese authori­ties welcomed such a suggestion with enthusiasm, saying 'how is the time to establish a representative office in Peking working out of a hotel suite. The quicker the better'. Mr. Sousa said he was told that a company must start in Peking, and if the Government is pleased with the results, offices may be established in other cities such as Shanghai and Canton. East Asiatic and Krupp are already operating out of Peking.

'The matter has been discussed with the Inchcape Group Chairman, P.G. Williams, and it was proposed that a company should be registered with Dodwell handling the exports and Inchcape the imports, Mr. Sousa said. 'An appropriate name can be given as Dodwells is known in China for its imports and re-exports of Chinese consumer · goods whilst Inchcape would deal with imports into China.'

The trade items being looked into include machinery for mining, oil drilling, agriculture, and modern pack­aging consumer products; technical know-how for Chin.a's shipping, motor, aircraft and electronics industries, chemicals. Pharmaceuticals are also areas of good trading opportunity.

In the manufacturing sector, a number of Hong Kong garment and electronics manufacturers are discus­sing joint venture possibilities with the Chinese authorities.

Stelux Proposes Joint Venture

Director of Stelux Manufacturing Co. Ltd. Albert Gazeley told the Bulle­

tin that he is extremely interested in

Big Peter and Little Peter . . .

Mr. Peter Williams and Mr. Peter Harris

seeing what type of products could be made successfully in China. A repre­sentative from Stelux will discuss the matter in Peking later this month.

At the present time, China is look­ing favourably at ventures that can improve their technology and provide them with quality products with ex­port potential. In such ventures they are presently arranging facilities such as low cost buildings and can arrange the set up operation and recruit suffi­cient workers while the partner must supply the machinery and technology. China will run the administrative side and personnel supervision whilst the partner would help with the technical management and training of staff, teaching know how and machinery operation. The Chinese authorities usually require to take over complete management of this type of factory within ten years assuming that the partner has recovered his investment.

"If such an arrangement can be materialised, it should only be done on the basis that after the venture is concluded, you will be given long term distribution of the products" Mr. Gazeley said.

"Everybody thinks China will pre­sent a good market. However in actual fact the Chinese are more interested in developing ventures for exports rather than for marketing in their own country" he said. "However, I think products from China will have good potential in the world market because people are becoming more brand name conscious and are less concerned with country of origin".

"Therefore, as long as China can get advanced technology, they may be

" . . . . . . everybody appears healthy, well-fed and in most cases, happy . . . . . . . "

able to bypass the country of origin problem which often arises in develop­ment of poor quality products. Unlike Japan, which had some difficulties initially establishing high quality with new brand names of their own, China has a fairly good reputation for manu­facturing which has not yet been spoiled," Mr. Gazeley added."And in partnership with the good brand name and with the guarantee of stable over­heads and low labour cost, their su­ccess should be inevitable."

Regional General Manager, Dow Chemical Pacific Ltd., David C. Da Silva, felt that there seemed to be only a small possibility for joint ventures on large investments such as petro­chemicals because, the Chinese au­thorities prefer to buy technology out­right. There are, however, companies who are prepared to sell a total pack­age to PRC which will consist of tech­nology plus plant equipment for push button operation. With the recent change in policy, he said, PRC will show tremendous progress and growth in the coming years.

More Circuits Agreed

Other participants in the Chamber group represent a cross-section of industries, including telecommuni­cations, gas, electronics and food­processing.

The Director and General Manager of the Hong Kong Telephone Com­pany, F.L. Walker, said the Chinese authorities have already agreed on the need for more circuits and more effi­cient ways of handling calls. They have also indicated an interest in interna­tional .direct dialling. "We proposed what we call in the industry a "single ticket working" instead of a "double ticket working". In the latter system,

· the operator at each end has to agree

on the time of the call; this is not ne­cessary in the. "single ticket working" system, which is much more efficient."

Mr Walker added that China seemed to have a determination to improve their telecommunications system. "They appear to be just as determined in the telecommunication field as they are in many other areas to bring China back to the top table", he said. "In this respect, we will do everything we can to help. We will offer training faci­lities and we will certainly receive any delegations they may send down in the future. Last month, a joint delega­tion from our company and Cable and Wireless visited China to discuss mutual telecommunications operating requirements."

"With a growing number of busi­nessmen and tourists visiting China, there will be a greater demand for in­ternational telephone circuits and it is in the interests of both China and Hong Kong that there are adequate circuits to meet this demand."

China may supply bottled LPG to Hong Kong

General Manager, Hong Kong & China Gas Co., G. W. Cam said there is a very good chance that China will be supplying some LPG as bottled gas in the near future. "As far as piped gas is concerned, it will depend on whether natural gas is obtained in South China and whether it will be within piping distance of Hong Kong."

"i hope that we can see some peo­ple from the gas industry in Shanghai and Peking in future. We're in fact in the process of making contacts with them·. Basically, we would like to ex­change views with the people in the gas business and invite them down to see our operations. We'd be delighted to help in any way we can and I think

13

it's only a matter of time before we establish working contacts."

In trade, many people think that the Chinese _authorities have been very open.

"The Chinese authorities have been very pragmatic towards dealings, whe­ther we've been buying, or whether we've been trying to sell," the Chief Executive of Hutchison Whampoa, W.R.A. Wyllie said.

"There are a number of trading areas where we have been very active. For instance, we've been looking into the possibility of mining marble in China, and we have been negotiating with the Chinese authorities on the sale of high quality steel from Sweden."

"Nevertheless, the problem at pre­sent is so huge that there is enormous potential for companies that are based in Hong Kong, providing they are pre­pared to spend the time and money necessary to go through the system, which is still at the moment somewhat cumbersome and slow."

14

Brol<en bone- or no nof mift

a step throughout the tour.

"There is no doubt that China is developing and is developing very rapidly," he said. "For instance, in our tdp to the Whampoa River at Shanghai, we got an idea of the size of the port and its great potential for development."

Containerisation in China, however, has still got a long way to go. Shipping Manager, Barber Lines, Hong Kong Ltd., Arthur Rondan, said, "The ships unloading in China at present have to be self-sustained. They have to lift on and I ift off containers themselves. But the Chinese authorities have bought a number of ships, and they have also been building ships themselves to carry their own products all over the world."

On the industrial side, Managing Director, Kras Asia Ltd. Clas Gotz, said a radio factory he visited manu­factured capacitors and semi-conduc­tors. "The capacitor equipment is as modern as it is here, but the semi­conductor equipment is not as ad­vanced."

"As far as knowledge is concerned, they are very good. I had the impres­sion that, from the top management to the workers, they really know what they were doing," he said, "We ex­changed some views about manufac­turing problems and methods. We can now approach the factory, and in fact, we were asked to do so.

And what the ladies thought .....

Mrs. Irene McMullen: "I liked the pace of the tour. I like

being organised, not having any deci­sions to make. I felt we were taken to the places we would have chosen to go; we saw the things we wanted to see. I love the Forbidden City, and all its treasures. Hangchow was delightful; it was like all the pictures we've seen, the misty look, the gardens; the visit out to the lake was impressive." Mrs. Myrtle Ackford:

"I felt a sense of history standing on the Great Wall. This was something you can't get from reading books and looking at pictures. The Ming Tomb was disappointing. I love Peking where you gain a sense of the past, and I was very impressed by the beauty and space and loveliness of the country."

Follow this guide from Christmas Eve through

to New Year 1979 and come and enjoy good cheer, traditional fine food and convivial company over the whole holiday period. 2� Sunday, December 24,

1978-Chrisbnas Eve. Christmas carols in

the Lobby by the Kei Tse Primary School Choir at 5.00pm.

Grandstand Grill: Christ­mas dinner. Entertainment by Filemon Razon. 6.30pm.-mid­night. $110.

· Pink Giraffe: Gala Dinner,Dance and Cabaret. 7.00pm-2.00am. $160, by ticket only.

Sky Lounge: Christmas Carols by the Kei Tse Primary School Choir at 5.30pm. Open 11.00am-2.00am.

The Good Earth Discothe­que: The Kay Gees create the Christmas fever. 9.00pm-3.00am. $60.

Sheraton Coffee Shop: Open 6.30am-4.00am. 25 Monday, December

25, Christm!lS Day. Christmas Day Carols

in the Lobby by the Kei Tse Primary School at 5pm.

Silver Ballroom: Buffet Lunch. Santa Claus will present toys and balloons to all children. 12nom-i:-3pm. $45 for adults, $35 for children.

Grandstand Grill: Christmas Day lunch menu. $55. In the evening, a traditional Christmas dinner. 6.30pm-midnight. $110.

Pink Giraffe: Buffet Lunch. Balloons and toys from Santa Claus. 12noon-3pm. $45 for adults, $35 for children.

Happy Christmas Day Gala Dinner, Dance and Cabaret. 7.00pm-2.00am. $160.

Sky Lounge: Christmas Day Carols by the Kei Tse Primary School at 5.30pm.

The Good Earth Discothe­que: The Kay Gees celebrate Christmas with you. 9.00pm-2.00am. $45.

Sheraton Coffee Shop: Special Turkey Lunch and Dinner Menus. $24. 28 Tuesday-Saturday,

-December 26-30 The Christmas spirit 30 continues through­out the Sheraton during the week in

all restaurants, lounges and bars. In the Pink Giraffe, enjoy

dinner, dancing and cabaret with Dana Gillespie at 10.00pm (except Sunday, December 27). $100. A la carte menu cover charge$40. 31 Sunday, December

31-New Year's Eve.Grandstand Grill:

New Year's Eve dinner, with novelties. 6.30pm-1.00am. $120.

Pink Giraffe: Buffet Lunch. New Year's Eve Gala Dinner Ball with dinner, dancing, entertain­ment. Cabaret at 11 pm by Dana Gillespie. The Gurkha Bagpipers will welcome in the New Year with you. $250, by ticket only.

Silver Ballroom: New Year's Eve Gala Buffet. The Gurkha Bagpipers will welcome in 1979 with you at midnight and Dana Gillespie will appear in cabaret at 12.30am. $160, by ticket only.

Sky Lounge: Musical entertainment by Jesus Benez during New Year's Eve. Mini­mum charge from 9pm-4am, $35.

The Good Earth Discothe­que: The Kay Gees will swing you into the New Y ear from 9pm-4am. $70.

The Sheraton Coffee Shop will stay open until 4am.

I Monday, January 1,. 1979. Pink Giraffe: New Year's Day Buffet Lunch.

12noon-3pm. $45 for adults, $35 for children.

Silver Ballroom: Special New Year Buffet Lunch. 12noon-3pm. $45 for adults, $35 for children.

All other restaurants, lounges and bars are open as usual.

All prices are subject to a 10% service charge.

Hangchow is a dream.... Serenit

... Tranquillity

"

Peking

Magnificent, Enchanting ! ...

The Wall

����- Incomparable

A �arriage of Differences

B : The Chamber appears to have a particular interest in the development of China's trade and industry.

M:Yes, not only at the present time but historically. After all, the Chamber was the first organisation in Hong Kong to represent business interests in relation to China's trade. That was in 1861 and there has never been any let up in this interest since. From 1949, our business contact and relationships with China have undergone great changes but the real interest has never altered and the result has been a very considerable trade development. Most of the companies in Hong Kong trad­ing with China to any scale are mem­bers of the Chamber so our services have had to take this into account. In recent years, our contacts have been strengthened.

B :Are your member companies involved in cooperative production ventures in China?

M: Yes, some of them are and many are in preliminary contact with appro­priate Chinese organisations to ascer­tain whether a basis exists for some form of industrial cooperation. Of course, the interest in recent months has intensified due to the changing policies now becoming clear. The whole system of contact and discus­sion is continually evolving and changing. It is difficult to be pre­cise about the position at any one time.

B: Can you say which industries are involved?

M:Yes, but I should not identify in­dividual" manufacturers. That is up to them to say. Electronics and textiles seem to be the favourites at this early stage but there is a much wider inter­est, for example, in tool making and toys. I think any Hong Kong manu­facturer . who has suffered from a shor­tage of workers in recent years and who cannot meet the demand for his

products is bound to be interested in China. Similarly, if a HK manufacturer is facing severe competition from other countries like South Korea and Taiwan in his main markets, he may look to China in order to reduce his production costs.

B : How many companies are involved?

M: Only a few agreements have been made so far to my knowledge but many more· will follow without doubt. For Hong Kong, probably the best arrangement would be a Kwangtung location and I know that K wangchow (Canton) and Swatow are already fav­voured. Both cities have a long history of industry and there is a good deal of back up industry and services in both areas. Workers have to be trained and it is better that the trainees should have some industrial background.

B: Why is China willing to enter into cooperative arrangements to produce goods?

M: I think because China's vast internal development will depend heavily on imported technology and plant, even some special materials li.ke alloy steels. These things have to be paid for in foreign exchange and exchange earnings must be increased. The quickest way to do that is to develop light industry with an export orientation, in much the same way as Hong Kong and South Korea have done. There is also a very useful spin-off in terms of good quality employment in China and technical and managerial training. China can use established systems of marketing as well and Hong Kong is in a good posi­tion to offer such services.

B :Are there particular problems?

M: Yes, there are many problems. Re­member that these cooperative arrange­ments represent a marriage between two dissimilar parties with completely different attitudes to the profitability of a project and completely different

experience of both production and marketing. So negotiation can be time wasting even although there is no lack of goodwill on both sides. It is also ap­parent that China will not accept the concept of foreign ownership of Chinese land and buildings. So the normal joint ventures with equity hold­ings are not presently possible. This also creates difficulty for companies which may be subsidiaries of larger groups themselves when they. have to protect shareholders interests. China is always a very good partner and quite fair in dealing with disputes for exam­ple but foreign companies find it diffi­cult to come to terms with some of the principles attending proposed Chinese corporative ventures with them.

B: Can any HK company get into an industrial venture with China?

M: I think so, with only a few ex­ceptions. China is obviously going through a period of trial and will eventually find the right formula for negotiating deals which will stand the test of time and produce the right re­sult for poth parties. So after a slow beginning I think we shall see a sub­stantial increase in the pace of produc­tion and exports. But there are al I sorts of impediments too. For instance, in securing access to foreign markets for finished Chinese products, especially textiles where resistance may be strong. Components and unfinished products

HK - well placed to take advantage of China's willingness to use foreign expertise - a Bulietin interview with Chamber Director Jimmy McGregor

are easier since they can be made up to take HK origin before export.

B :/s there any danger for HK in these

developments?

and given good training and organisa­tion they could pose strong competi­tion for us, also of course for other ex­port oriented economies.

M: Not in the short term since we can- B :So why do we cooperate? not find the labour we need here. Even in the medium term there may be a real M: It is in our interest to do so. If we advantage for HK to supplement home don't other countries will and we are production and move ourselves into specially well placed to take full advan­higher quality products, leaving the tage of China's willingness to use lower end to China. But longer term, foreign expertise. I think we can pro­say in eight to ten years, there could bably stay a step or two ahead of be a difficult situation with China China in· quality and design and cer­competing directly with HK. China's tainly we are more flexible and adapt­capacity for production is enormous able. So we shall do very well.

,, these cooperative arrangements represent a marriage between two dissimilar parties. to the profitability

f . t ,,

o a pro1ec . . . . . . .

II

19

The Artist

The Policeman

The People

Healthier . More Relaxed "You can usually tell the health of a person

by the state of his teeth, .......... Everyone

I saw in China has very good teeth, which means

the food they eat is adequate and balanced ... "

Albert Rodrigues.

To-morrows Generation ------and To-days

not-so-Young

The Militia

The Worker

The Peasant

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23

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27

IF YOU WANT TO REDUCE COSTS, PUT YOURSELF IN OUR HANDS

An ideal shipping company is small enough to give your goods the individual attention they deserve, yet large enough to employ the most modern ships and methods.

And that's Suma Line.

We're an independent operation; but it won't just be 01.,1r competitive tariffs and freight rates to major European ports and inland points that will save you money.

You can also count on a fast and regular service, a truly rigid and rapid reporting system for cargo outturns.

We have a record to prove it, too. So put your goods in the best possible hands. Contact us today.

ASIA

SUMA-LINE REDERIET SUMA TROP APS COPENHAGEN

General Agents: Gilman Shipping Limited, Connaught Centre, 3919 Hong Kong. Tel: 5-227011 Telex: HX 74106 GILSC

Chinese Freight Agents: Chi Fai Hong Limited Tel: 5-265031

� Gilman Shipping Limited � A member of the Inchcape Group of Companies.

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Obtain the HUD' Property Report from the.Marketing Agents and read it before signing anything HUD neither approves the merits of the offering nor the value, if any, of the property.

·u.s. Government, Department of Housing and Urban Development

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