Latest: HK down, Taiwan up?, Shanghai grows at 10.8% and starts $US7.2b chemical industry park.
16 January 2001
Journalist-turned-politician Anson Chan has not just quite Hong Kong politics, she has moved to Taiwan. And so has publisher Jimmy Lai, whose controversial Apple Daily and other Hong Kong publications will continue while he sets up a new empire. The changes are manifestations of China’s reduction of Hong Kong to a less special place, no longer a colony with a dedicated government but, in due course, just part of a wider provincial gathering that will include Shenzhen and Guangzhou. With that, values will change.
Shanghai’s headline economic growth last year hit 10.8%, industrial output rose 13.5% and production from its IT sector grew 39%, foreign investment has recovered and earthworks have started for the ambitious 23.4kmÂ² Shanghai chemical industry park, where it’s estimated that $US7.2 billion will be poured into construction during the first five years. Projects earmarked for the park include a $US3.4 billion ethylene plant joint venture and a $US1 billion isocyanate project, whose foreign partners initially wanted to go to Nanjing.