20-MAR-1989 17:29
GOVERNMENT SECRATARIAT
852 5 840 1523
Closing Remarks
Economic and social 2007
in conditions in Hong Kong
1997 and
1
about precise
far So
lines: increasing
as
China,
increasing
Difficult to be
social
conditions
ahead. But generally expect development of Hong Kong to continue along present
growth and standard evolution
service centre for increasing interdependence of South
economic
and
of
living,
China economies
and of
region,
HK and
manufacturing
sophistication sector, increasing provision
of
of
2
education, medical, welfare facilities, improvements in economic and transport infrastructure.
in
paper
on economic
airport, new
road links
and expansion
social
and
of tunnels,
Examples given development: probable container port, new environmental improvements, more and better housing provision, hospital beds up from 4.5 to 6 per 1,000 population, first degree places up from 6.5% to 14%, total tertiary places up from 10.5% to 20%.
Development of HK/China economic relationship
1
2
in
-
plus banking, 2 million workers in
Bilateral trade increased over 26 times 1978-88. Now each other's largest trading
HK partner.
largest investor in China (60% of all). China third largest investor
sector HK manufacturing real estate etc. At least 1.5 Guangdong employed by Hong Kong enterprises. Hong
now 56% of all exports: Kong's re-exports now linked to China. Important entrepot for trade between China and Taiwan and South Korea.
not
over
80%
to
continue No reason why relationship should grow. Important that Hong
infrastructural Kong's planning should take account of needs of China as well as domestic economy - e.g. providing road, port and airport facilities for goods exported through Hong Kong.
Hong Kong's international position in 1997
1
One of tasks of JLG is to consider action necessary to ensure maintenance of Hong Kong's participation in international organisations. Specialist sub-group set up. Already reached agreement on many, e.g.:
a)
GATT
as continue
separate
Hong Kong to contracting party after 1997;