MONDAY, OCTOBER 29, 1984
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MANY GOOD TRADING YEARS AHEAD, E.P. HO SAYS
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THE SECRETARY FOR TRADE AND INDUSTRY, MR E.P. HO, TOLD TRADERS TODAY THAT THEY COULD LOOK FORWARD TO MANY SUCCESSFUL TRADING YEARS, WITH THE GUARANTEES IN THE SINO-BRITISH AGREEMENT.
+THE GUARANTEES IN THE SINO-BRITISH AGREEMENT HAVE PROVIDED
A FIRM BASIS FOR THE CONTINUATION OF THE LEGAL AND FINANCIAL SYSTEMS, THE FREE MARKET ECONOMY, A DISTINCT POSITION WITHIN THE INTERNATIONAL TRADING COMMUNITY AND A FREELY CONVERTIBLE CURRENCY ALL OF WHICH ARE ESSENTIAL ELEMENTS WHICH CAN HELP HONG KONG MAINTAIN THE BUSINESS ENVIRONMENT THAT HAS BEEN THE BASIS OF ITS PROSPERITY SINCE THE PACIFIC WAR,+ MR HO SAID.
HE WAS SPEAKING AT THE OPENING CEREMONY OF THE 1984 HONG KONG TRADE FAIR CONSUMER PRODUCTS EXHIBITION, IN WHICH 150 LOCAL AND OVERSEAS EXHIBITORS ARE TAKING PART.
HE SAID THAT THE EXTENT OF OVERSEAS PARTICIPATION IN THE FAIR SERVED TO UNDERSCORE AGAIN HONG KONG'S IMPORTANCE AS A MAJOR INTERNATIONAL INDUSTRIAL AND TRADING CENTRE..
DRAWING THE ATTENTION OF TRADERS TO THE USEFULNESS OF HONG KONG AS A GATEWAY TO THE POTENTIAL MARKET IN CHINA, MR HO SAID WITH ITS POPULATION OF ONE BILLION PEOPLE THE CHINESE MARKET HAS LONG BEEN THE FASCINATION OF MANY.
+CHINA NOW ACCOUNTS FOR SOME 20.3 PER CENT OF OUR TRADE, SECOND ONLY TO THE UNITED STATES. MANY MANUFACTURERS AND TRADERS WILL BE STRIVING HARD FOR A SHARE OF THE INCREASED BUSINESS WHICH CHINA HAS TO OFFER. AND FOR THEM, HONG KONG IS AN UNRIVALLED VANTAGE POINT FROM WHICH TO CONDUCT THEIR OPERATIONS.
+ IN FACT THE REVIVAL OF OUR TRADITIONAL ROLE AS AN ENTREPOT HAS ALREADY MADE SUBSTANTIAL PROGRESS, AND RE-EXPORTS OF GOODS IN 1983 AMOUNTED TO MORE THAN $56 BILLION, AN INCREASE OF 18 PER CENT OVER A FIVE YEAR PERIOD: TO AND FROM CHINA AS WELL AS ELSEWHERE IN THE REGION AND THE WIDER WORLD.+
ON THE LOCAL FRONT, MR HO STRESSED THAT DESPITE HONG KONG'S RELATIVELY SMALL SIZE, DOMESTIC CONSUMPTION IN HONG KONG WAS +A FACTOR TO BE RECKONED WITH+.
+ON A PER CAPITA BASIS, HONG KONG WAS THE LARGEST MARKET IN THE WORLD FOR FRENCH BRANDY; HONG KONG BOUGHT MORE PER CAPITA FROM THE UNITED KINGDOM THAN HER MOST IMPORTANT EUROPEAN COMMUNITY TRADING PARTNER, AND HONG KONG WAS THE UNITED STATES' LARGEST EXPORT MARKET FÖR CIGARETTES AND ORANGES - AN UNLIKELY MIXTURE IN A UNIQUE LOCATION, HE SAID,
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