US brokerages which were active in the Hongkong market during the Sino-British political row last October are taking a cautious approach to the overheated Chinese economy. Market sources say that if the Chinese economy is not back on track within a few months, US investment funds will lower their Hongkong weightings. - EXPRESS NEWS HENDERSON Land is planning to market a combined commercial and industrial block in San Po Kong, Kowloon, within three months. The sale should set the benchmark for this market. Since 1989 the Planning Authority has approved 22 combined usage proposals, butfew of the properties were built and none have been put on sale so their value is hard to assess. But sources estimate the new block's value at $2,700 to $2,800 a sq ft. - ECONOMIC JOURNAL SIR Quo-wei Li, chairman of Hang Seng Bank, says the tightening of the mortgage lending policy for luxury properties by Hongkong Bank should not have a major impact on the residential property market. He adds that Hang Seng Bank will not follow Hongkong Bank because its lending ratio for mortgages is relatively low. - WAH KIU YAT PO NEW World has decided on the form of profit distribution from the redevelopment of the MTRC headquarters in Kowloon. According to the plan, office blocks developed by New World will be sold and the shopping malls and remaining areas of the development willbe held by New World and the MTRC. Both sides will share the rental income as the project progresses. The project will involve a total investment of $2 billion. - MING PAO SIXTY units of a residential property developed by Henderson Land in Junk Bay are selling for $4,100 a sq ft, a rise of 20 per cent on the first phase of the development. A spokesman for Henderson says that by the close of registration yesterday more than 240 people, representing an oversubscription of three times, had registered. Henderson will sell another 50 units at a later date. - MING PAO SOURCES in the construction industry say Dickson Construction should win the contract for the reclamation project in Tsun Mun because the company tendered the lowest bid of $155 million. Companies which entered bids include Gammon, Wai Kee and Tak Wing andbids ranged from $155 million to $200 million. - ORIENTAL DAILY INFORMATION at the Land Registry shows that Guangdong Trust and Investment (HK) has bought the fourth floor of Nine Queen's Road Central for $116.6 million from Tremmy Ltd. The buyer and seller signed a provisional agreement on July 1. - ORIENTAL DAILY OF newly listed companies, Wing Hang Bank is favoured by fund managers. Its listing price was $16.80 and the stock has now risen to $21 but there is still thought to be value at this price. Analysis by fund managers of local banks shows that their PE ratios range from 19 to 27. On an average PE of 22 and profits of $1.23 per share (based on Wing Hang's 1992 results), the present share price of Wing Hang Bank should be $27. The bank's 1993 profits are put at $1.44 a share and on this basis the share price could rise to $31. - SING PAO THE Aviation Technology Fund, established by Aviation Industries of China, will sign a contract today. The fund comprises 19 investment projects which aim to raise US$100 million. Zhang Hongyun, vice-chairman of Aviation Industries, is also planning to acquire stakes in small and medium-size companies in Hongkong but the company will not launch full takeovers at the moment. - SING PAO RUMOURS that Far East Consortium will be sold as a shell company have resurfaced in the market. A former executive of the company, Paul Liu, has returned to Far East Consortium. Mr Liu left the company for Tse Sui Luen and it was believed he would join TatWing Construction. The return of Mr Liu to Far East Consortium is thought to indicate that there are new plans for the company. - SING PAO THE share price of Crownhampton surged 26 per cent yesterday following rumours of its acquisition. Analysts warn that the company has intermittently been selling shares in the market, but this has been repeatedly denied by the major shareholder. The latestrise in the company's share price is believed to be related to a rights issue and it is possible that the stock may follow the unfortunate pattern of Uniworld and Chuang's Consortium International.