6
It is also, I venture to suggest a place of great interest
to the U.S. It is an open market for U.S. goods with no restrictions,
no restraints, no limits on the remittance of profit or controls on
funds moving in and out. It is a base for many American investors who
manufacture both for the domestic and expor market. Indeed the
United States continues to be the largest single source of overseas
industrial investment accounting for 47 per cent of the total, ahead
of Japan with 30 per cent and ahead of the United Kingdom which is traditionally lower at 6 per cent. 17 per cent of our domestic exports are produced by companies with overseas interests. ideal centre for a regional headquarters with excellent connexions,
communications, in the midst of the fastest growing area of the world
- the Pacific basin with business and financial services to match.
Even the fall in property prices now gives ar. opportunity to establish in Hong Kong a regional office for East Asia in prime accommodation at
modest cost.
It is an
I might add that Hong Kong is also a living proof.of the message which your government is keen to spread - that developing
societies can thrive in a world of open trade.
A stable and cohesive community, a resilient economy, a
willingness to face change and adapt to it, these are all strengths on
which the Hong Kong community can rely in facing the future, and which continue to make Hong Kong a place worth investing in and deserving of
a fair deal in commercial matters.
The future of Hong Kong is now the subject of the Sino-British talks in Peking. The two govemments agreed that the content of the
talks should remain confidential and it is not for me to reveal it here.
But I will put to you a few thoughts about the talks which
may help to put them in perspective.
First of all the general context is a favourable one. The
relations between the United Kingdom and China are good, and the
relationship is a developing one.
/Secondly Hong