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TUESDAY, JUNE 16, 1987
THIRDLY, HONG KONG ADOPTED A COMMON LAW JURISDICTION. "OUR LAW IS BASED ON THE WELL TESTED ENGLISH LEGAL SYSTEM ALTHOUGH WE HAVE OUR OWN STATUTES AND REGULATIONS TO SUIT OUR OWN SPECIFIC REQUIREMENTS, HE ADDED.
"NEVERTHELESS, WE ARE TIED IN WITH THE THINKING OF OTHER COMMON LAW JURISDICTIONS. THIS IS PARTICULARLY RELEVANT IN RELATION TO THE ENGLISH SPEAKING CENTRES, LIKE LONDON AND NEW YORK, HE SAID.
MR JACOBS FURTHER POINTED OUT THAT THE USE OF ENGLISH AS THE BUSINESS LANGUAGE IN HONG KONG WAS OF GREAT ADVANTAGE AS ENGLISH HAD BECOME THE INTERNATIONAL LANGUAGE OF FINANCE AND COMMERCE.
HE ALSO SAID HONG KONG'S LOCATION ON THE DOORSTEP OF CHINA HAD LED TO NOTEWORTHY DEVELOPMENTS IN ECONOMIC RELATION BETWEEN HONG KONG AND CHINA.
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"HONG KONG HAS MUCH TO CONTRIBUTE TO THE MAINLAND IN RELATION TO THE IMPROVEMENT OF MANAGEMENT SKILLS, THE PROVISION OF EXPERTISE, AND THE PROMOTION OF TECHNOLOGY TRANSFER, MR JACOBS SAID.
CHINA HAD NOW BECOME THE SECOND LARGEST EXPORT MARKET FOR HONG KONG AND THE LARGEST TRADING PARTNER. BESIDES, INCREASING USE OF HONG KONG'S FINANCIAL SERVICES, WAS BEING MADE BY CHINA.
"HONG KONG WILL UNDOUBTEDLY PLAY A SIGNIFICANT ROLE IN THE PROVISION OF FUNDS AND FINANCIAL INTERMEDIATION ΤΟ CHINA, WITH ATTENDANT OPPORTUNITIES FOR BUSINESS AND INVESTMENT,
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"DESPITE THE INTENSIFYING INTERNATIONAL COMPETITION, I HAVE DOUBT THAT THESE FOUR FACTORS THAT I HAVE MENTIONED WILL CONTINUE TO. STAND HONG KONG IN GOOD STEAD WELL INTO THE FUTURE. AND THAT HONG KONG'S ATTRACTIONS TO THE INTERNATIONAL INVESTOR AND ITS DEVELOPMENT AS A FINANCIAL CENTRE WILL CONTINUE, HE CONCLUDED.
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EARLIER, IN A SPEECH AT THE OPENING CEREMONY OF THE CONFERENCE, MR JACOBS SAID HONG KONG WAS AN ATTRACTIVE PLACE OF INVESTMENTS AND 1987 HAD SO FAR BEEN AN EXCELLENT YEAR FOR INVESTORS.
HE ALSO SAID THE FAVOURABLE CLIMATE IN HONG KONG FOR INVESTMENT ACTIVITIES HAD BEEN BUILT ON THE STRENGTH OF THE EFFICIENT INFRASTRUCTURE, THE DILIGENT WORKFORCE SOCIETY TO MOVE WITH THE TIME AND CHANGING AGE.
AND THE WILLINGNESS OF THE TO SEIZE THE OPPORTUNITY OF A
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