(8)
(9)
13
increasing affluence of the community, a decline in the
age of retirement and an increase in the proportion of the
population of working age represented by those continuing
their studies and training beyond the minimum school
leaving age. For the fact is that the age structure
of the population over the next decade will be such that
the proportion of the population of working age in relation
to the population as a whole is expected to increase at a
much higher rate than during the last few years.
22.
But, of course, in a maturing economy, the
productivity of labour should increase at a faster rate
over time as a result of increased inputs of capital and
improvements in production techniques. Consumption
expenditure in Hong Kong has shown some tendency to fall
in relation to the gross domestic product and, bearing in
mind that the population as a whole will not be growing
any more rapidly over the coming years than in the last
decade, it is conceivable that the ratio of household
savings to incomes will increase in the future and this,
together with Hong Kong's well organised capital market,
should enable investment expenditure to increase even more
rapidly in the future than in the past. As far as
technical inputs are concerned, the rate of growth of output will undoubtedly be influenced by the significant
developments which have already occurred in the fields of
education and manpower and management training, and which
are being complemented by the continuous arrival in Hong
Kong of overseas companies and the diffusion in Hong Kong
of foreign technology.
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