Factories and businesses owned by him and his likes were well protected when the mainland needed overseas investment to boost the economy. Capitalizing on the geographical advantage, Hong Kong firms for a long time led the way in investment.
Hong Kong firms, many of them in the processing trade and exports, moved their workshops and production lines to the more business-friendly PRD region of the mainland, with more than 90 percent shifting their bases there.
"It was easy for my father to make money for some time," Ho says. "Time was when one looked at a person enviously if he said he was 'working for a Hong Kong company'." Jobseekers and government officials from almost all levels were happy to help develop Hong Kong-invested factories. For two decades Hong Kong manufacturers made hay under the favorable policies of the central government and preferential treatments of the local authorities. In return, of course, they created millions of jobs in South China.
More than 90,000 processing trade firms operate on the mainland. Nearly 70,000 of those are in Guangdong, out of which about 57,500 are Hong Kong-invested entities employing 9.6 million workers, according to the National Bureau of Statistics of China.
The wages drawn by workers in these units range from 500 to 2,000 yuan a month. They attracted many people from across the country because they paid more than what other companies paid.
In the past two decades, the mainland's economy has grown by leaps and bounds. And processing trade has had a role to play in that because every 1 percent growth in processing trade has raised the GDP by 0.29 percent, according to a Hong Kong Trade and Development Council (TDC) report.
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