To: Hawkmoon who wrote (552 ) 5/21/2001 12:27:00 PM From: GUSTAVE JAEGER Read Replies (1) | Respond to Re: And to bring this back on topic, this is quite similar to what the communist Chinese have down with Hong Kong. Obtained Asia's financial center, created by the British and HK chinese, and are now milking it to support the rest of the mainland economy. "Western robber barons obtained Asia's valuable manpower/workforce, catered by mainland China, and have milked it to prop up their Hong-Kong-based financial casino..." DEVELOPMENTBy Trish Saywell/SHANGHAI feer.com Much of the improvement has been driven by government fiat. The central government has designated Pudong as the country's financial centre, the Wall Street of China . In September 1995, Beijing drew up a series of additional policies to further support Pudong's development, including granting projects in the new district the status of "priority national projects" and allocating more government loans to Pudong.Shanghai municipal government sweetened the pot on the residential side by granting residency permits to anyone from outside Shanghai who bought an apartment in Pudong worth at least 500,000 renminbi ($60,200). That year, Lujiazui was selected as the first place in the country where foreign banks could conduct business in local currency. Foreign banks had to move in if they wanted a licence.
