Deals and Tenders

VARIOUS Beijing and Tianjin development projects are inviting sealed bids from eligible suppliers next month. The first three have tender deadlines on February 4, 1993, while the fourth bid closes on February 20, 1993.

They are as follows: Beijing's Chao Yang District, south of Bei Street on Huan Road, 34,463 sq m, plot ratio of 4.5, lot number JE(92)-001.

Beijing's Hai Dian District, north of En Ji Zhuang Residential Area 2, 18,052 sq m, plot ratio 4, lot number JF(92)-001.

Beijing's Feng Tai District, Fang Zhuang Residential Area, 13,105 sq m; lot no. JG(92)-001.

Tianjin's He Xi District, south of Wei Di Road, west of Er Hao Road, 4,108 sq m, plot ratio 6.6, lot no. 9230.

INTERNATIONAL Tendering Co of China National Technical Import and Export Corp invites sealed bids from eligible suppliers for certain goods for the Ningbo Port Project to be financed with proceeds from a World Bank loan.

THE Bank of China (BoC) has offered credit of about US$20 million (about HK$155 million) to a Hongkong shipping firm for the purchase of two 8,500-tonne multi-purpose container vessels from the China Machinery Import and Export Corp.

US COMPAQ Computer Corp has appointed its first Chinese dealer to distribute its products on the mainland. Compaq signed an agreement with Beijing Read Co making the latter its sales agent on the mainland.

Beijing Read has also set up a maintenance centre in the capital for after-sales servicing.

A CONGLOMERATE has been set up in Beijing to cultivate a market for Chinese arts and crafts.

The Beijing Gongyi Group consists of the Beijing Gongyi Import and Export Group Co and 66 businesses in the United States, Singapore, Belgium, Japan, Brazil, Poland, China, Hongkong and Macau.

CHINA signed contracts earlier this month to import US$60 million worth of styrenes and polystyrene equipment and technology from the US for the Guangzhou Ethylene Project.

The contracts were signed by the China National Technical Import and Export Corp, China Petrochemical International Co and two US firms.

GUANGZHOU is to set up a land and real estate trade centre in three years as part of the city's efforts to develop a second-hand real estate market.

A LEADING civilian enterprise of the People's Liberation Army (PLA) has signed a contract with a Belgian company for a jewellery and accessory joint venture in Beijing.

The Berlin Industrial (Beijing) Co with a total investment of US$720,000, will be co-funded by the China Huitong (Group) Corp and the Hongkong-based Berlin International Ltd.

THE BoC is expected to become the third note-issuing bank in Hongkong in 1994, after gaining approval from the Hongkong Government's Executive Council earlier this month.

The BoC has said it plans to issue notes by May 1994.

According to a Hongkong Government spokesman the BoC will issue $6 billion in bank notes, about 10 per cent in value terms of the total bank notes in circulation. This amount is to increase to about $10 billion by 1996.

CHINA is to purchase specialised German coal mining equipment.

The China National Technical Import and Export Corp and the Jungar Opencast Coal Mine Co signed a contract in Beijing with Germany's Krupp Industriechnik to buy bucket-wheel excavators.

The value of the contract was not disclosed, but the project itself will involve an investment of US$700 million and will become one of China's largest opencast coal mines.

THE Shanghai Pudong Development Bank opened early this month in an old bank building near the Bund and will serve the Yangtze river area. The bank is one of two approved by the Peoples' Bank of China (PBOC) last year. The other is the Huaxia Bank, setup by the Beijing-based Capital Iron and Steel Corp.

THE BoC will provide more than US$165 million in hard currency loans to China's top chemical-fibre producer, following an agreement signed in Beijing earlier this month.

The loans, jointly supplied by the bank's head office and its provincial and city branches, will be used in the third phase construction of the Yizheng Joint Corp of Chemical Fibre Industry in Jiangsu province.

After completion of the third phase, the company's production capacity of polyester chips will be increased by 20,000 tonnes, which will boost China's textile industry, according to a BoC official.

FOSHAN in Guangdong province chugged ahead by opening a passenger train service to neighbouring Hongkong earlier this month. It is the second railway station on the mainland to open a rail service to Hongkong after Guangzhou.

Daily passenger trains to Hongkong from Foshan take about three hours.

MORE than one million people in Sichuan will be relocated to make way for the world's largest dam - the Three Gorges project. But plans are being drawn up to create a new economic zone for those displaced from their hometown.

When the 185-metre-high dam is built across the Yangtze, six county towns in the province will be under water. Parts of 10 counties and cities will be flooded.

BIDS from 21 contractors were announced in Guangzhou early this month for the Foshan-Kaiping and Shenzhen-Shantou freeway project, backed by US$200 million in loans from the World Bank.

GUANGDONG plans to invest US$160 billion to improve communication and telecommunication facilities and promote energy development in the next two decades.

CHINA Southern Securities Co was established last month in Shenzhen after nearly three months of trial operation.

The firm, along with the Shanghai-based Guotai Securities Co and the Beijing-based China Securities Co, make up the three biggest Chinese securities firms backed by China's six largest banks.

GUANGDONG investors will soon be able to participate in international foreign exchange option markets through Hongkong brokers.

The State Administration of Exchange Control (SAEC) has given the green light to some organisations in the province to go into international forex futures trading on a trial basis, according to the local SAEC branch in Guangdong.

CHINA'S first free trade zone was established last month over a 10 square kilometre stretch in Waigaoqiao.