Kong's usefulness to China and streng- thening the value of the “One Country, Two Systems" concept;
enrich the cultural, recreational and educational life of the people of Hong Kong;
create more friends in all parts of the world with a ready and sympathetic understanding of Hong Kong's interests.
In China's interests, strengthening Hong Kong's
international foundations will:
continue to enable Hong Kong to contribute to China's modernization and development programmes through providing an important channel and source of foreign exchange, investment and trade, and by supplying technical and professional expertise:
demonstrate the efficacy of the "One Country, Two Systems” concept; and
stimulate even greater economic activity in Southeast Asia and the Pacific Rim, from which China and other countries will
benefit.
In the interests of the rest of the world, streng- thening Hong Kong's international foundations will:
in helping to maintain and promote pro- sperity and stability, preserve and enlarge an important market within Hong Kong for raw materials, finished products, services and investment from other countries;
continue to provide overseas companies and agencies with increasing expertise, services and infrastructure for their trade and invest- ment in China; and
continue to provide international companies and agencies with an attractive, stable, well- served and well-placed headquarters for their activities in Southeast Asia and the
Pacific Rim.
DEVELOPING POLICIES AND TAKING
NEW INITIATIVES TO STRENGTHEN HONG KONG AS AN
AS AN INTER-
NATIONAL CITY
Strengthening Hong Kong as an international city is an objective that should be pursued vigorously by both the Government and different sectors of the community. Policies should be developed, and new initiatives taken to further the objective. A number of possible measures are suggested in the following pages: over the coming year the Office of Members of the Executive and Legislative Councils (OMELCO) will be working with the Hong Kong Government and other organisations in Hong Kong to see how best they can be achieved.
Developing the infrastructure, communi- cations and administration of an international city by:
accelerating the development of important infrastructural projects, including the new airport, the port facilities, and the internal transport network, and encouraging inter- national participation in these projects; providing support to encourage research and development;
simplifying and reducing administrative, bureaucratic and regulatory requirements and ensuring a balance in the regulatory
environment;
maintaining the existing simple tax system.
Promoting more overseas investment and participation in Hong Kong by:
encouraging the industrial sector to move towards high technology and capital- intensive operations;
improving existing industrial support services to attract more overseas investment;
attracting high technology into Hong Kong through joint ventures between the private sector and overseas corporations;
ensuring flexibility in the entry of foreign nationals into Hong Kong;
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