Abstract
Hong Kong's government is spurring birth of a high-value-added chemical industry in its New Territories region. The government will implement the advice of studies it commissioned that call for setting aside portions of established industrial areas. Reclamation of these sites is needed to permit building chemical plants. A total of more than 300 acres has been designated for reclamation and subsequent development for chemical industry. These actions follow recent construction of a world-class chemical waste treatment plant on Tsing Yi Island near Hong Kong's Kowloon Peninsula. Hong Kong's philosophy has always placed emphasis on high-value-added and high-tech. But it is particularly pushing development of industries now so as to have as many as possible functioning before reintegration with China on July 1, 1997. The basic agreement between the U.K. and China stipulates that what is in place in Hong Kong in 1997 will be allowed to function for at least 50 years as a capitalist enclave ...
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