HONG KONG: JARDINE MATHESON MAKES PEACE WITH CHINA

Описание: (12 Jan 1995) Hong Kong's oldest colonial trading house Jardine, has moved to make peace with China, expressing regret that some of its actions have offended the communist authorities.

A decade ago the company moved addresses to Bermuda and more recently has been at the centre of arguments between Hong Kong and China over major development projects in the colony.

This week Jardine's managing director made the conciliatory remarks and also stressed the company is not deserting the colony.

The Jardine company is the oldest of Hong Kong's trading groups and is now one of the biggest property holders in the colony.

Jardine has real estate investments of more than eight (b) billion US dollars and the company is sometimes referred to as the business landlord of Hong Kong.

It has other business investments in the colony ranging from supermarkets to security firms and the name Jardine is synonymous with Hong Kong.

But in the 1980s the company moved addresses to Bermuda saying at the time it was because of uncertainty about the colony's future.

Last week the company delisted its shares from the Hong Kong stock exchange, raising fears it is deserting the colony.

The actions have also angered the Beijing authorities.

SOUNDBITE: (English)

"Plainly some of Jardine's actions have caused offence in China in recent years - that is a matter of regret to us, but repositioning a company in a time of political change is bound to run the risk of being misunderstood."

SUPER CAPTION: Alasdair Morrison, Managing Director Jardine Matheson Holdings Limited.

Jardine is the original colonial trading company in Hong Kong.

It was trading in China seven years before the colony of Hong Kong was formed in 1842, the echoes of the colonial past still linger in the form of Jardine's daily sounding of the midday gun across Victoria harbour.

There is a long standing enmity between the company and China as Jardine was a key part of the opium trade which was instrumental in the setting up of Hong Kong as a British colony.

This enmity surfaced again last September when China objected to the Hong Kong government's awarding a major contract to Jardine for the construction of a new container terminal.

The Chinese say the contract was a reward for Jardine supporting Governor Chris Patten's controversial political reforms.

China has also objected to other contracts awarded to Jardine subsidiaries including one to operate the air cargo terminal at Hong Kong's new multi billion dollar airport.

Jardine has also had a public relations problem in explaining its move out of the territory.

Mr Morrison denies the company is deserting the colony.

SOUNDBITE:

"I mean clearly all those media stories about Jardines selling out of Hong Kong are simply not true. I think I've stated today very clearly the extent of our investment here - to me it speaks for itself."

SUPER CAPTION: Alasdair Morrison.

Mr Morrison also says the company's relationship with China will remain very strong.

He says Jardine is part of 60 joint ventures on the mainland including a number which have been approved very recently.

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