Zhongshan sees bridge as a magnet for investors
Friday, December 27, 2002
hongkong.scmp.com
GARY CHEUNG in Zhongshan
A bridge linking Hong Kong, Zhuhai and Macau will help cities on the west side of the Pearl River Delta region to attract foreign investors, according to Zhongshan's executive vice-mayor.
In an interview with the South China Morning Post , Lu Guoliang said the proposed bridge linking the Pearl River Delta would drastically cut the travelling time to Hong Kong.
At present it takes between three and four hours for goods vehicles to travel between Hong Kong and Zhongshan via Shenzhen and the Humen Bridge, which crosses the estuary linking Dongguan and Panyu.
Zhongshan, which has a population of 2.36 million, is located on the delta's west coast, north of Zhuhai.
"It would take less than an hour to travel between Hong Kong and Zhongshan via the [proposed] bridge," Mr Lu said.
He added it would definitely reduce costs for Hong Kong-based companies investing in the western part of the delta.
Chief Executive Tung Chee-hwa revealed during a visit to Beijing early this month that the central government had approved the bridge in principle.
Under proposals being finalised by a government feasibility study team, a Y-shaped bridge will run from Lantau Island to Macau and Zhuhai.
"We hope the bridge will be built as soon as possible," said Mr Lu. "But the project requires approval from Guangdong provincial government and a detailed feasibility study is needed."
According to the SAR government's cross-border travel survey last year, three-quarters of the trips by Hong Kong people were to Shenzhen and Dongguan, in the eastern part of the delta. Eight per cent went to Guangzhou.
Of the container trucks and goods vehicles crossing the border, 86 per cent travel between Hong Kong and Shenzhen or Dongguan.
A recent survey sponsored by the 2022 Foundation - which is backed by a number of large property companies - indicates that there is a "magic three hours" factor affecting investment decisions among Hong Kong businessmen, which means they tend to invest in areas which are less than three hours from the SAR.
"We have trailed behind cities in the eastern part of the delta in attracting investment from Hong Kong companies because of a lack of a direct road link to Hong Kong," Mr Lu said.
"A cross-delta link will definitely provide a window of opportunity for foreign capital to invest in Zhongshan."
Hong Kong is the largest source of foreign investment in Zhongshan, with total investment of US$3 billion (HK$23.39 billion) between 1978 and last year. It accounted for half the total amount of foreign investment to the city in that period.
Zhongshan attracted direct foreign investment of US$643 million last year compared with US$3.6 billion in Shenzhen.
Mr Lu said the number of containers shipping exports from Zhongshan was expected to increase from 560,000 last year to 670,000 this year.
"Over 90 per cent of our containers have been transported to Hong Kong for re-exports because the ports in the western part of the delta are not deep enough," he said. |
