WEDNESDAY, OCTObral 22, 1975
IT WAS OFTEN SAID THAT THE TERMS OF IMPRISONMENT, WITH CERTAIN EXCEPTIONS, WERE GENERALLY TOO LENIENT THAT THERE WAS ALMOST A COMPLETE ABSENCE OF CORPORAL PUNISHMENT AND THAT THE MATERIAL STANDARD OF THE PRISONS WAS EVEN BETTER THAN INMATES COULD FIND OUTSIDE.
+THE MOST FRUSTRATED REMARK, HOWEVER, IS: "WHY CAN'T OUR LOCAL GOVERNMENT BE ALLOWED TO CARRY OUT THE DEATH PENALTY?'+
ANOTHER MAJOR CONCERN OF THE COMMUNITY, DR. CHUNG CONTINUED, WAS THE STATE OF THE ECONOMY.
HE NOTED THAT FOR THE FIRST TIME IN HONG KONG'S INDUSTRIAL HISTORY. DOMESTIC EXPORTS IN 1975 WOULD BE LESS THAN THOSE IN PREVIOUS YEAR PROBABLY BY ABOUT FIVE TO TEN PER CENT THERE IS A MIRACLE BETWEEN NOW AND THE YEAR-END.+
-
+UNLESS
AND ALTHOUGH THE TREND OF TRADE STATISTICS HERE WAS IMPROVING, HE DID NOT EXPECT ANY SIGNIFICANT ADVANCE IN THE . ECONOMY DURING THE NEXT FEW MONTHS.
DR. CHUNG POINTED OUT THAT HONG KONG RELIED HEAVILY ON ITS EXPORT-ORIENTED MANUFACTURING INDUSTRIES WHICH EMPLOYED NEARLY HALF THE LABOUR FORCE AND HE HOPED THAT THE GOVERNMENT WOULD EXERT EVERY EFFORT TO REMOVE DISCRIMINATORY RESTRICTIONS AND TREATMENT BY ANY COUNTRY ON HONG KONG'S PRODUCTS.
+IN THE ABSENCE OF NATURAL MATERIAL RESOURCES AND BECAUSE
OF DIFFICULTIES IN AGRICULTURAL DEVELOPMENT, WE IN HONG KONG HAVE NO ALTERNATIVE BUT TO CONTINUE TO RELY PRINCIPALLY ON THE DEVELOPMENT OF OUR EXPORT-ORIENTED MANUFACTURING INDUSTRIES,+ HE STRESSED.
HE EMPHASISED THE IMPORTANCE OF SCIENTIFIC MANAGEMENT AND MODERN TECHNOLOGY IN THE DEVELOPMENT OF MANUFACTURING INDUSTRIES, AND NOTED THAT ONE WAY OF ACQUIRING TECHNICAL KNOW-HOW WAS TO ATTRACT OVERSEAS COMPANIES TO ESTABLISH NEW TECHNOLOGICAL INDUSTRIES IN HONG KONG.
IN MANY RESPECTS, DR. CHUNG SAID, HONG KONG HAD MANY ATTRACT- IONS FOR FOREIGN INVESTMENT - LOW CORPORATION TAXES- A HARDWORKING, INTELLIGENT, ADAPTABLE AND PRODUCTIVE LABOUR FORCE- MINIMAL GOVERNMENT INTERFERENCE AND MAXIMUM ECONOMIC FREEDOM= GOOD SUPPORTING SERVICES AND MINIMAL LABOUR STRIKES AND DISRUPTION.
ON THE DEBIT SIDE, HOWEVER, INDUSTRIAL LAND WAS SCARCE AND EXPENSIVE, FACTORY BUILDING COSTS AND RENTALS HIGH, AND THERE WAS A SHORTAGE OF SKILLED CRAFTSMEN, MIDDLE-LEVEL TECHNICIANS AND EXPERIENCED HIGH-LEVEL MANPOWER. HONG KONG WAS AWARE OF THESE SHORTCOMINGS AND MEASURES WERE BEING TAKEN TO OVERCOME THEM.
ON THE POSSIBLE