OUTLINE OF OPENING SPEECH FOR DELVERY BY SECRETARY OF STATE
AT CONFERENCE ON INVESTMENT OPPORTUNITIES IN HONG KONG
10.00, 17 SEPTEMBER 1991 AT CLARIDGES HOTEL
- Well timed conference: Prime Minister's visit to China and
Hong Kong, airport MOU, new vigour in JLG.
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David Li will speak on Hong Kong as financial centre:
Sir John Swire on investment.
Will not steal their thunder.
But I was struck again in
Hong Kong two weeks ago by the sheer scale of Hong Kong's economic miracle: 6 million people but 11th largest trading nation in the world and major international financial centre: long-term GDP growth rate 7% per annum. Major banking/financial centre in Asia.
- Whole basis of Britain's policy over last decade has been to ensure Hong Kong can continue success story in conditions of stability, justice and freedom, into the next century.
1984-89 Hong Kong prospered as China and Britain
cooperated over Hong Kong.
contributed to success.
Economic reform in China
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Glancing reference to post-Tiananmen difficulties.
Prime Minister's visit marks opening of new phase.
Signing of MOU. Reaffirmation of content and spirit of JD. Real progress in number of issues of interest to Hong Kong during visit. Particularly CFA, to ensure continued independence of judiciary: an essential requirement for international business confidence. Mechanism to speed up work of JLG: and refer issues when necessary for resolution at Foreign Minister level.
BRIAFK/1
RS