i 2.
Four years alter the signing of the Joint Declaration, Hong Kong is as busy and dynamic as it has
ever een. In the past 3 years the economy has grown by over 30%, and growth of 7-8% is expected this year.
Exports are booming.
partner.
The traditional entrepot trade has revived and Hong Hong is now China's foremost trading
The container port is the busiest in the world in terms of throughput. The property market is buoyant; there has been a rapid growth in hotel construction to cater for an increased tourist demand. A new Exhibition
and Convention Centre, one of the most modern in the world, has been recently completed and should enhance Hong Kong's role as a regional business centre. The Hong Kong Government are embarking on a number of ambitious new infrastructure projects, including (subject to final decisions) a third harbour crossing and a new airport. The construction of a third University has begun. If there are economic problems (inflation and an acute labour shortage) they are problems of success.
3:
Britain's trade with Hong Kong is doing unprecedently well. In 1988, our merchandise exports to Hong Kong exceeded £l billion. Our invisible earnings were
probably of about the same order. Hong Kong is the UK's third largest market in Asia; its people consume more British goods per capita than anywhere else in Asia, and more than the United States or Canada. British
investment in Hong Kong is growing. We have a very
substantial economic stake in Hong Kong's future, in
addition to our political commitment to make a success of
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