Chinese smugglers dug a “professional” concrete tunnel into Hong Kong equipped with lights, vents, steel reinforcements and even rails to transport goods

China smugglers dig tunnel into Hong Kong

POSTED: 25 Dec 2013 17:05
Chinese smugglers dug a “professional” concrete tunnel into Hong Kong equipped with lights, vents, steel reinforcements and even rails to transport goods, domestic media reported on Wednesday.

BEIJING: Chinese smugglers dug a “professional” concrete tunnel into Hong Kong equipped with lights, vents, steel reinforcements and even rails to transport goods, domestic media reported on Wednesday.The underground path had “one end in a rented garage in Shenzhen and another in a thicket of reeds in Hong Kong, totally concealed”, said a report posted on the official website china.com.cn.

“It was dug in a totally professional way,” it said.

Semi-autonomous Hong Kong, along with Shenzhen in mainland China, are both important trade hubs for the fast-growing and massive market.

But the two have very different tariff systems.

The as-yet unidentified smugglers sought to exploit their proximity by building a 40-metre-long underground passage and installing a rail track and wagon with a block-and-tackle system to ferry goods such as cell phones and tablet computers.

The tunnel stood about 0.8 metre wide and 1 metre high, just big enough for an adult to crawl through.

It started from a remote area of Shenzhen, in a garage full of bags packed with sludge dug up from the tunnel, and ended in a cluster of tall reeds a few metres past a river dividing mainland China and Hong Kong, with the nearest village 20 metres away.

The project was estimated to have cost three million yuan (US$490,000) and taken four months to build.

Border officers discovered the tunnel a week ago, and a nearby resident said she heard drilling noises for one or two nights but assumed they were for renovations.

The man who rented the garage had used a fake ID, authorities were quoted as saying.

Unknown's avatarAbout bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a comment