For some 18 years, China has actively implemented ‘open door’ policies and conducted a
determined economic reform in its socialist modernisation with Chinese characteristics. As a result, the whole country, particularly the coastal provinces and larger cities, has attracted tremendous investments from Hong Kong, Taiwan and many foreign countries in trade, industry, infrastructure, and property development. In recent years, foreign capital has been largely utilised in the construction of commercial and office buildings as well as in large-scale urban renewal programmes.
H.K. Cheng