News In Brief

Chinese, British to invest in Hong Kong phone link

Chinese and British interests are to invest $180 million in a telephone company that will serve the free-trade zone on the Hong Kong border, the New China News Agency has announced. The agency said the contract would last for 20 years - well beyond 1997, when Peking says it plans to regain sovereignty over the British colony.

News of the agreement came one day after the latest round of negotiations between China and Britain on the future of Hong Kong.