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Saturday, October 30, 1999, updated at 12:56
Business China's New SOE Policy Will Pay Off: Expert

  Herbert L. W. Hui, a Hong Kong investment analyst with the Hong Kong and Shanghai Banking Co., Ltd (HKSB) said recently in Shanghai that China's newly announced vigorous policies on the reform of state-owned enterprises (SOE) will further enliven the SOEs.

  He said that measures such as offering financial support to SOEs and establishing new distribution systems for SOE operators will pay off in the near future.

  Hui, who is in charge of HKSB business in China, is optimistic about the revival of China's SOEs in many fields. The areas of communications and hi-tech are welcomed by investors, said the expert, and SOEs getting into these fields will have good opportunities for development.

  He also said that when reforms are carried out to encourage the participation of enterprises, the fields of infrastructure construction and public utility also have room for economic development.

  Hui believes that China's real estate market also has a bright future. He said HKSB has helped a Hong Kong company assemble 1.4 billion US dollars for investment in the real estate in the mainland.

  Talking of China's enterprises facing the world's capital market, he suggested that SOEs should first become recognized in China's capital market. He believes that if an enterprise is not welcomed in its local market then it will hardly be welcomed internationally. "Almost any Chinese or Asian company can find an investor in China or Asia, but few can find one in other parts of the world," Hui said.

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