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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (1305)	5/30/2001 12:04:44 AM
From: ms.smartest.person	Read Replies (1) of 2248

Hi-tech zone has lesson to teach 2001-05-30 Terms and Conditions A brief and standard tour of Chengdu national high-technology zone has become a source of inspiration for Richard Li Tzar-kai, chief executive of Pacific Century CyberWorks, particularly when he compared it with his brainchild, the Cyber-Port. After an hour's tour of the hi-tech zone, Mr Li said he was concerned that the Cyber-Port might not be attractive enough to foreign investors unless more incentives were offered. Although the zone was unlikely to be a direct rival of Cyper-Port, Mr Li was concerned about Cyber-Port's competitiveness. "They have an extensive package of incentives. For example, new companies enjoy exemptions in land lease and they can even have the offices (built) for free. Some of these are just impossible for Hong Kong. "They started after the Cyber-Port (was proposed). Now they have already made some progress . . . Some companies in the zone were listed on the stock market. There is much we can learn from the zone." When asked if he would consider investing in the zone, Mr Li said: "That is not what is in mind at the moment. On the contrary, I am thinking we should offer more incentives to investors in the Cyber-Port to make it attractive to foreign investors." Mr Li was amazed at the incentives being offered by the zone, such as the provision of free land to large companies. Information technology company Top Group was probably the best showcase for Mr Li. The Chengdu-based hi-tech company, with several listed vehicles in the Shanghai A-share market and a subsidiary listed on Hong Kong's Growth Enterprise Market, is praised highly by the mainland media as having international standards. The company's directors probably share a common language with Mr Li, who shot to prominence last year after his high-profile acquisition of Cable & Wireless HKT. Mr Li - a much-awaited VIP of the Go West group - arrived in Chengdu on Friday night and became the most sought-after media target. He only joined the last two legs of the tour because he had to attend the CyberWorks annual general meeting on Friday. Terms and Conditions Copyright© 2000 LEXIS-NEXIS, a division of Reed Elsevier Inc. All rights Reserved. quamnet.com

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