Sir,

DRAFT SPEECH BY HON STEPHEN CHEONG, OBE, JP

LEGISLATIVE COUNCIL 14 JANUARY 1987

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Adjournment Debate On

Development Of Industry In Hong Kong

In proposing this debate, it has never been the objective to seek immediate commitment from the Government to

depart from or to modify specific current policies.

Rather, it

is hoped that this debate would serve to focus our attention as

well as to stimulate thought on this important aspect of our

economy

namely the future development of Hong Kong

industries. A dozen colleagues will speak this afternoon and

the subject matter will be covered from many different angles

ranging from generalized observations to specific proposals.

Though there was no stipulation on the length of our speeches,

I believe most speakers will be as brief and to the point as possible. Hon colleagues therefore can heave a sigh of relief.

Viewed from the trend of its net contribution to GDP, .

the financial services may well be regarded by some as having replaced the manufacturing sector as the key to future growth. It is thought that these services will offer more dynamic

growth propsects. Nevertheless, viewed from the provision of employment opportunities to our community, there can be no doubt that the manufacturing sector is still the cornerstone of

our stability.

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