TUESDAY, NOVEMBER 5, 1985
IN TWO YEARS' TIME THE SYSTEM WOULD AGAIN BE REVIEWED TO SEE WHAT CHANGES WOULD IMPROVE ITS EFFECTIVENESS SO AS GRADUALLY TO DEVELOP AN ADMINISTRATION WHICH WOULD EXERCISE A HIGH DEGREE OF AUTONOMY AS A SPECIAL ADMINISTRATIVE REGION WITHIN THE ENVELOPE OF CHINESE SOVEREIGNTY, HE ADDED.
SIR DAVID SAID THAT HONG KONG'S USEFULNESS AS A COMMERCIAL CENTRE FOR DOING BUSINESS WITH CHINA COULD BE REFLECTED IN THE 184 FOREIGN FIRMS AND THREE FOREIGN BANKS WHICH ESTABLISHED BRANCHES IN HONG KONG DURING THE PAST 12 MONTHS.
+AND THERE CAN BE NO GREATER SYMBOL OF HONG KONG'S DETERMINATION TO EQUIP ITSELF FOR THE FUTURE THAN THE RECENT ANNOUNCEMENT OF THE BUILDING OF A THIRD UNIVERSITY, HE ADDED. UNFOLDING FURTHER THE CONTINUING STORY OF HONG KONG
TO HIS INTERNATIONAL AUDIENCE, SIR DAVID SAID THAT AS A PLACE IT HAD LITTLE ADVANTAGE BEYOND A HARBOUR OF DEEP AND SHELTERED WATER SURROUNDED BY BEAUTIFUL HILLS.
+ITS FIVE-AND-A-HALF MILLION PEOPLE HAVE DEVELOPED
AN INDIVIDUAL STYLE OF MANAGING THE IR AFFAIRS WHICH HAD BROUGHT THEM A HIGH LEVEL OF PROSPERITY,
+PERHAPS, THERE ARE, AFTER ALL, LESSONS TO BE LEARNED FROM THE MANAGEMENT OF HONG KONG THROUGH THESE TURBULENT YEARS OF THE SECOND HALF OF THIS CENTURY.
+LOW TAXATION; RESTRICTING REGULATION TO THE MINIMUM NECESSARY TO ENSURE THAT THE RULES OF THE MARKET PLACE AND NOT THE JUNGLE PREVAIL; CONSENSUS AND CONSULTATION RATHER THAN ADVERSARIAL POLITICS, RESTRICTING GOVERNMENT INVESTMENT TO INFRASTRUCTURAL IMPROVEMENTS AND TO ESSENTIAL PROGRAMMES OF HEALTH, EDUCATION AND WELFARE: NOT SUBSIDISING WEAK AND AILING PARTS OF THE ECONOMY; RESTRAINING THE BUREAUCRATS FROM MAKING DECISIONS ABOUT INDUSTRY AND COMMERCE WHICH ARE BEST LEFT TO THE MANAGERS AND EXECUTIVES OF INDUSTRY AND COMMERCE.
+ IN A SENSE, FROM A MANAGEMENT POINT OF VIEW, THE HONG KONG EXPERIENCE CAN BE SUMMED UP IN THE WORDS LET GOVERNMENTS GOVERN AND MANAGERS MANAGE',+ SIR DAVID SAID.
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