MONDAY, NOVEMBER 16, 1981
HONG KONG REGAINING RE-EXPORT ROLE
******
IN ADDITION TO BEING 27TH +IN THE LEAGUE OF EXPORTING NATIONS+, HONG KONG IS ALSO REGAINING ITS PREVIOUS IMPORTANCE AS A RE-EXPORT CENTRE, THE FINANCIAL SECRETARY, MR JOHN BREMRIDGE, SAID TODAY (MONDAY).
THIS IS DUE LARGELY TO THE OPENING UP OF CHINA AND HONG KONG'S EXCELLENT RELATIONS WITH THE COUNTRY'S AUTHORITIES, MR BREMRIDGE EXPLAINED, AT THE OPENING CEREMONY OF THE HONG KONG TRADE FAIR THIS MORNING.
+ IN 1970 OUR TOTAL RE-EXPORTS WERE HK$2.9 BILLION. THEY INCREASED, HOWEVER, OVER TEN TIMES TO $30 BILLION IN 1980, BEING PRINCIPALLY TEXTILES, WATCHES AND CLOCKS, ELECTRICAL MACHINERY, APPARATUS AND APPLIANCES, + MR BREMRIDGE SAID.
WHILE NOTING THAT THE HONG KONG TRADE FAIR IS THE FIRST INTERNATIONAL TRADE FAIR OF ITS KIND TO BE HELD HERE AND DEALS MAINLY WITH ENGINEERING, TRANSPORT AND BUSINESS EFFICIENCY MR BREMRIDGE SAID THE WIDE RANGE OF PRODUCTS ON DISPLAY AND THE INTERNATIONAL PARTICIPATION CLEARLY INDICATE THE IMPORTANT ROLE PLAYED BY HONG KONG IN THE DEVELOPMENT OF INTERNATIONAL TRADE IN THE ASIAN REGION, WHICH HAS THE HIGHEST GROWTH RATE IN THE WORLD+.
ADDED TO A FINE NATURAL HARBOUR, AS WELL AS EXCELLENT COMMUNICATION AND BUSINESS FACILITIES, HONG KONG HAS AN +ADAPTABLE, INTELLIGENT AND HARDWORKING WORKFORCE, HE SAID.
+HONG KONG IS NOTED FOR ITS EFFICIENCY AND ABILITY TO REACT TO CHALLENGES. NEW TECHNIQUES AND SKILLS ARE IMPORTED AND QUICKLY ADAPTED TO LOCAL USE. HONG KONG ENCOURAGES FREE COMPETITION, AND ANYONE WITH ABILITY TO CONTRIBUTE TO OUR ECONOMIC WELL-BEING IS RECEIVED AND WELCOMED, MR BREMRIDGE SAID.
HONG KONG THRIVES ON A FREE ENTERPRISE ENVIRONMENT. HAS MAINTAINED A CONSISTENT POLICY OF LOW TAX STRUCTURE, MINIMUM CONTROLS ON BUSINESS, ABSENCE OF EXCHANGE CONTROL AND COMPLETE EQUALITY BETWEEN EXPATRIATE AND LOCAL COMPANIES.
+I AM A STAUNCH SUPPORTER OF THIS POLICY OF POSITIVE NON-INTERVENTION BY GOVERNMENT, HE SAID.
NOTE TO EDITORS:
THE TEXT OF MR BREMRIDGE'S SPEECH WILL BE BOXED SEPARATELY LATER TODAY.
/2