SWB
Mr. Mofes 25/1
FE/7493/A3/1 M-s. Pökst
Them back to me ise.
AFR
3. FAR EASTERN RELATIONS
11.
17 Nov 83
Chinese Economist's Optimism on Prospects for Hongkong
Hongkong 'Wen Wel Po' 14 Nov 83
Text, as published in a "slightly abridged" form, of an article by Huang Shuhai (7806 2579 3189), a 'Shijie Zhishil' ('World Affairs') reporter, "Chinese expert Qian Junrul (6929 0193 3843) on Hongkong's economic prospects" (italics as published; FE/7492/A3/1);
The fifth round of the Sino-British talks on the Hongkong issue has ended. The Hongkong issue has drawn more and more concern at home and abroad. This reporter took the opportunity to visit Comrade Qian Junrul, famous economist of our country who had just returned from a visit to Hongkong.
Qian Junrui was formerly the Director of the Institute of World Economy and Politics under the China Academy of Social Sciences, and is now a Member of the CPPCC Standing Committee, adviser to the economics centre under the State Council, adviser to the China Academy of Social Sciences and the president of the World Economics Society of China. Although he is more than 70 years old and had just returned from a long and tiring trip, he managed to spare me some of his precious time to talk about his impressions of his Hongkong visit.
The importance of Hongkong
Have you ever been to Hongkong before? What changes have taken place there since then?
Qian Junrui: "I have been there before. That was in 1937 when Shanghai was about to fall into the hands of the Japanese. Zou Taofen, Jin Zhonghua and I went from Shanghai to Hongkong, and then continued our trip to Guilin and Wuhan. The Hongkong of 46 years ago was only a small port, engaged chiefly in the re-export business, but now it is entirely different. Hongkong has become a comparatively important international financial centre, a centre of international trade, an international shipping centre and an international stock and foreign exchange centre. Almost all of the world's large banks have set up branches or offices in Hongkong (there are 131 altogether). It is the largest gold market after London and New York. As for shipping, the volume of freight handled is the third largest in the world. It is the seventh port of the world, with good tele- communications facilities and very high efficiency. It is a relatively developed capitalist city and port. Although my last visit was quite cursory and superficial, all this has left a very deep impression me. Hong Kong has truly changed."
"Why is it that Hongkong has developed so fast in the last few decades, especially in the past 20 years?"
Qian Junrui: "The main causes are: (1). Its geographical location is very good. With the motherland at its back, Hongkong leads to the Pacific ocean, the Asian-Pacific region and the Indian Ocean. After years of endeavour, Hongkong has become a very important central port. (2) The Hongkong British authorities utilized the international situation in the past few decades. They utilized the war of liberation in China, the war of aggression in Korea and the war of aggression in Vietnam, launched by the United States. With regard to city construction, docks and piers, port construction, construction of public facilities, and the like, all these have been conducted in a relatively planned way and in a modern manner. Hongkong has been made an important free port, with unrestrained traffic in foreign capital and funds throughout the world. The import and export trade, with the exception of a very small number of commodities such as cigarettes, wine and petroleum, are duty free. All these measures are effective, resulting in a rapid growth of the economy in Hongkong. The above should be positively affirmed.