WEDNESDAY, MAY 6, 1987
444
HK FARES WELL AFTER JOINT DECLARATION
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THE SINO-BRITISH AGREEMENT HAS BEEN WELCOMED BY THE GREAT MAJORITY OF THE PEOPLE OF HONG KONG, BY THE BUSINESS COMMUNITY AND BY HONG KONG'S OVERSEAS INVESTORS AND TRADING PARTNERS.
THIS WAS STATED BY THE SPECIAL ADVISER TO THE GOVERNOR SIR DAVID AKERS-JONES, TO THE BELGIUM-HONG KONG SOCIETY AT BUSINESS CONFERENCE IN BRUSSELS TODAY (WEDNESDAY), ADDING THAT THE INGREDIANTS FOR MAINTAINING HONG KONG'S PROSPERITY AND STABILITY WERE THERE AND THAT THE TERRITORY HAD FARED WELL SINCE THE SIGNING OF THE JOINT-DECLARATION.
SPEAKING ON THE POLITICAL AND ECONOMIC FUTURE OF HONG KONG, SIR DAVID SAID THAT WITH RETURNING CONFIDENCE, THE ECONOMY OF HONG KONG HAD RESPONDED TO OPPORTUNITIES AFFORDED BY THE GROWTH IN WORLD TRADE, BY THE ECONOMIC DEVELOPMENT OF CHINA AND MORE QENERALLY DEVELOPMENT IN THE REST OF THE PACIFIC REGION.
ON BUSINESS CONFIDENCE IN HONG KONG, SIR DAVID SAID THAT THERE WAS A GROWTH RATE OF JUST UNDER NIÑE PER CENT IN REAL TERMS IN GROSS DOMESTIC PRODUCT AND EIGHT PER CENT IN REAL TERMS OF INVESTMENT IN PLANT AND MACHINERY IN 1986.
+ALSO INDICATIVE OF CONFIDENCE IN THE FUTURE HAS BEEN THE REVIVAL OF INTEREST IN INVESTMENT IN ALL SECTORS OF THE PROPERTY MARKET, HE SAID.
IN 1986, HONG KONG'S TOTAL TRADE AMOUNTED TO U.S.$71 BILLION SIR DAVID SAID, ADDING THAT IN TERMS OF TOTAL TRADE, HONG KONG WAS THE WORLD'S 13TH LARGEST TRADER.
THERE WAS ALSO A RAPID GROWTH IN RE-EXPORTS OF CHINA ORIGIN IN 1986 AND EARLY 1987, REFLECTING THE RE-EMERGENCE OF HONG KONG'S
OF CHINA.
ROLE AS A MAJOR ENTREPÔTREFLECTING
ON HONG KONG-BELGIUM TRADE, SIR DAVID SAID THAT IT HAD BEEN ON A STEADY INCREASE IN RECENT YEARS AND THE AVERAGE ANNUAL GROWTH RATE WAS ABOUT NINE PER CENT.
+HONG KONG IS NOW A MAJOR COMMUNICATION CENTRE FOR THE FAR EAST. IN THE LAST DECADE, IT HAS ALSO BECOME ONE OF THE MAJOR FINANCIAL CENTRES OF THE WORLD, HE SAID.
COMMENTING ON THE STANDARD OF LIVING IN HONG KONG, SIR DAVID SAID THAT IT WAS SECOND ONLY TO JAPAN IN SOUTHEAST ASIA AND WAS COMPARABLE TO THAT OF SINGAPORE.
+AT THE SAME TIME, THERE HAS BEEN VAST EXPENDITURE ON THE WELFARE FOR A GROWING POPULATION, HE SAID, QUOTING EXAMPLES OF FREE EDUCATION FOR EVERY CHILD, MEDICAL SERVICE WITH ONLY NOMINAL CHARGES AND PUBLIC HOUSING FOR NEARLY HALF OF THE POPULATION.
/+THERE IS