and laws
9
China is dramatic; in the first eleven months of 1980, re-exports to and
from China as a whole grew by 85% in money terms compared with those in the
corresponding period in the previous year.
Moreover, I should expect the relationship with China to grow.
I believe the developments at Shenzhen and Shekou will proceed and that
possibilities-in Guangdong generally
and Fujian, and indeed in the rest of China,
will attract increasing investment and participation by Hong Kong businessmen.
And I should expect this process to grow as Chinese commercial policies/are defined
and stabilised, and as confidence in their continuity grows.
While some
technical aspects must be watched for instance certificates of origin
-
I see no danger in principle in any of this for Hong Kong, indeed quite /the development of Guangdong and Hong Kong are complementary. the reverse, /There could well be room for net expansion of Hong Kong
materials and
industry through the lower costs of some/components if they were produced
in China instead of imported from oversees, and if some land intensive
processes were moved north of the border. Equally to be welcomed is the
expansion of investment in Hong Kong by agencies of the Chinese government.
One way in which the goverment can assist the success of our
Advisory exporters is by implementation of the recommendations of the Committee on
Diversification. These were designed to enable Hong Kong to strengthen
its economic position in the 80s by increasing the supply of industrial
land, improving industrial support facilities and technical back up
services, and strengthening present arrangements for both trade promotion
and industrial investment promotion. All these things and there were
implemented 47 recommendations in all - are being
with the urgency that they
deserve and 1981 will see a host of govemment-based or government-led
activities aimed at assisting industry to move into the 80a.
/Gentlemen, I .....