Specific points
10
19.
Turning now to points not yet covered
Mr. Stephen Cheong, Mr. Wong Po-yan and Mr. Ngai
Shiu-kit and Professor C.K. Poon have stressed the
I see
need for establishing closer links with China. There
is much food for thought here. There have been very
significant growth in the economic and trade relations
between Hong Kong and China in recent years. This has
been largely the result of the mutual needs of the two
economies. I agree it is consistent with the spirit of
the Advisory Committee on Diversification recommendation
that the Government should try to identify more closely
opportunities for cooperative effort. The rapid growth
in economic links with China has provided new opportunities
for our industry, for example, in certain outward processing
activities to take advantage of lower costs in China.
such developments natural as a result of economic forces and
mutually beneficial to both economies. As the suggestions
that have been raised involve two-way technology transfers,
there will be much scope for further expansion of such
economic relations along the present pattern, despite
the fact that Hong Kong and China will remain as separate
economic entities with different system. Indeed, I hardly
need to stress that the greatest contribution Hong Kong
industry can make to China's development and modernisation
is to retain and enhance our renown ability to adapt
quickly to changing circumstances.