1
industrial
3. development,
4
5
6
Our remarkable economic,
fuelled
trade and
social
equally remarkable achieved because local and
success
which has
been has
foreign
businessmen have had confidence in our vitality, our potential, and our future. This has enabled investment decisions to be made in an atmosphere of stability and trust. Investors have been able to commit their companies and their resources to long-term development
8 in
certain knowledge that Government policies That promises given
7
9
the
sure
and
affecting their investments would not change.
by the Hong Kong authorities would be kept, and that they would be operating within a free enterprise, low/tax. environment, without any form of discrimination against them.
10
11
12
13
14
15
16
17
18
19
is
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21
22
2 2 2 2 2 2
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24
25
We now have a situation
where Our
changing constitution and political future is placing stresses and strains on local confidence in our ability to maintain economic
It's not difficult to success and our existing life/style.
to see
18 why there is a considerable brain drain from Hong Kong one which
in
and largely concentrated
the middle/management group, therefore one which we can ill afford. No matter how well China is progressing economically, and despite China's obvious and sincere to the future under the efforts to allay any fears in Hong Kong as People Republic of China. PRE, it is inevitable that some of those people who have a choice will exercise it in favour of departure. Quite apart from the question of the economic viability of Hong Kong, there is the very 26 real and personal question of the family. Many Hong Kong Chinese parents may be prepared to accept China's assurances and stay fully committed to Hong Kong but they are not willing
not willing to commit their children. That is a natural and completely predictable position to take. So, we will continue to lose people from our middle-class and turn will place some strains on middle management throughout our business sector, and also academia and Government. These effects are already apparent and they may grow progressively
34 more difficult.
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36
35
www w
this
in
In all the circumstances, we
cannot