2:
CHINESE GOVERNMENT'S OBJECTIVES FOR DEVELOPMENT OF HONG KONG SAR
AFTER 1997?
- I am sure the Committee will wish to pursue this question further
when they visit China.
-
What is clear is that China has an enormous stake in Hong Kong's
continuing success. In economic terms, Hong Kong is vital: there is
substantial two-way trade, and large-scale investment. It is estimated that over 2 million people are employed by Hong Kong interests in Guangdong Province alone, which is more than in the manufacturing sector in Hong Kong itself. Hong Kong continues to
function as a window on the world for China: it is a source of
management and entrepreneurial skills, and provides access
world-class services sector.
Politically I have little doubt that Hong Kong is also seen as a
model for eventual reunification with Taiwan. A smooth transition
in Hong Kong is obviously important in this context.
So I am sure that China will wish to see Hong Kong continue to
flourish beyond 1997. Chinese officials at the highest level have
repeatedly stressed their commitment to maintaining Hong Kong's stability and prosperity.
But it will be important to ensure that Hong Kong continues to be able to respond flexibly to changing economic and social
circumstances.
I also believe that Hong Kong will continue to be a model for
China's own economic reforms. Indeed, Deng Xiaoping himself has spoken of creating other "Hong Kongs" within China.