The Group signs a contract in October to take on a major equity in a 5 billion RMB joint venture to own, operate and further develop the Port of Yantian in Shenzhen, China.

Phase 2 of South Horizons at Ap Lei Chau is completed and sold.

HWL, jointly with Mr Li Ka-shing and his family, announces on 26 July the sale of 63.6 per cent interest in HutchVision Limited (BVI) to the News Corporation at USD525 million. This represents six times the investments. HutchVision Hong Kong Limited, the license holder, remains under the control of Hutchison and the Li family.

Hutchison Communications is formed and is selected by Hong Kong government to negotiate terms and conditions of a FTNS (Fixed Telecom Network Service).

The Group reorganises its UK telecommunications businesses. Hutchison Telecom's main focus will be on PCN, paging and cellular re-seller service. The Rabbit Telepoint service ceases to operate on 31 December.

The Group, in conjunction with Cheung Kong (Holdings) and other Chinese partners, signs an agreement in June to build the 'East' section of the express-way between Shenzhen and Shantou.