THURSDAY, JULY 24, 1986
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+MUCH WORK OF COURSE REMAINS TO BE DONE TO ASSESS FEASIBILITY OF DEVELOPMENT OF THESE AREAS, INCLUDING TIMING AND EFFECT ON ENVIRONMENT. THIS WORK IS ON-GOING AND THE RESULTS WILL BE REGULARLY REVIEWED, MR CHENG SAID.
+A FEASIBILITY STUDY OF ALDRICH BAY HAS BEEN COMPLETED AND DETAILED ENGINEERING DESIGN IS PROCEEDING; THE ENGINEERING STUDY OF HUNG HOM BAY RECLAMATION HAS ALSO BEEN COMPLETED.
+THE FEASIBILITY STUDIES OF OTHER STRATEGIC GROWTH AREAS ARE CONTINUING ACCORDING TO SCHEDULE AND WILL BE PROGRESSIVELY COMPLETED BY THE END OF 1988. THE RESULTS WILL BE TAKEN INTO ACCOUNT IN THE CONTINUING TDS STUDIES AS THEY BECOME AVAILABLE,+ HE ADDED.
MR CHENG THEN SPOKE ABOUT THE PORT DEVELOPMENT STRATEGY STUDY WHICH WAS RECENTLY COMPLETED.
HE SAID IT CONCLUDED THAT THERE WERE ADEQUATE OPPORTUNITIES FOR FURTHER EXPANSION OF PORT FACILITIES TO MEET BOTH THE LONG-TERM AND SHORT-TERM REQUIREMENTS UP TO AND BEYOND 2001.
REFERRING TO THE STUDY BY THE TOWN PLANNING OFFICE OF THE BUILDINGS AND LANDS DEPARTMENT INTO THE IMPACT OF CHINA'S NEW DEVELOPMENT AREAS (NDA'S) ON HONG KONG'S INDUSTRIAL LAND REQUIREMENT, MR CHENG SAID THIS WAS REQUESTED BY HIS PREDECESSOR, THE OBJECTIVES OF WHICH WERE TO IDENTIFY THE NATURE AND EXTENT OF THE IMPACT OF CHINA AND IN PARTICULAR HER NDA'S ON INDUSTRIAL LAND REQUIREMENT IN HONG KONG AND TO ASSESS THE IR POSSIBLE IMPACT IN SHORT, MEDIUM AND LONG TERMS.
+THERE HAVE BEEN SOME INTERESTING FINDINGS IN THE STUDY, THE MAIN ONE BEING THAT HONG KONG AND CHINA ARE MORE LIKELY TO HAVE A COMPLEMENTARY RATHER THAN AN COMPETITIVE RELATIONSHIP FOR THE FORESEEABLE FUTURE,+ HE SAID.
MR CHENG POINTED OUT THAT SINCE THE OPENING UP OF CHINA FOR FORE IGN INVESTMENT IN 1979 SOME LOCAL MANUFACTURERS HAD DEVELOPED COMPLEMENTARY RELATIONS WITH CHINA'S NDA'S, SHIFTING PART OF THE MANUFACTURING PROCESS TO THE NDA'S.
+WE MUST ALSO REMEMBER CHINA IS A MARKET FOR HONG KONG PRODUCTS AND THE REPORT SAYS THAT EXPANDED CHINA MARKET HAS STIMULATED MANUFACTURING PRODUCTION IN HONG KONG.
+THERE IS ALSO A POSITIVE IMPACT OF HONG KONG'S INDUSTRIAL LAND REQUIREMENT ARISING FROM THE MORE ACTIVE ROLE CHINA IS TAKING IN INDUSTRIAL INVESTMENT IN HONG KONG.+
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