N
THURSDAY, OCTOBER 22, 1987
TO
EXPLAIN
THE
OF THE A SPECIAL ENTITY, WITH
FUNDAMENTALS SIR DAVID THEN WENT ON JOINT DECLARATION, WHICH SET OUT CLEARLY THAT HONG KONG AS ADMINISTRATIVE REGION OF CHINA WOULD REMAIN A DISTINCT ITS OWN CAPITALIST ECONOMIC AND SOCIAL SYSTEM, ITS OWN LAWS AND SYSTEM, AND ITS OWN GOVERNMENT, CONSISTING OF LOCAL PEOPLE.
NEGOTIATION OF THE HE POINTED OUT THAT THE SUCCESSFUL
BY THE DECLARATION AND THE SOLID ACHIEVEMENTS MADE SINCE THEN LIAISON GROUP HAD BEEN PARALLELED BY AN ECONOMIC RESURGENCE.
LEGAL
JOINT
JOINT
HE
BEING ALMOST TANGIBLE, DESCRIBING ECONOMIC CONFIDENCE AS
IN THE SHAPE OF WENT ON : "IT IS CERTAINLY VISIBLE TO ANY VISITOR,
ALL OVER
OF THE TERRITORY. DOZENS MASSIVE CONSTRUCTION ACTIVITY HIGH-RISE OFFICE BLOCKS AND RESIDENTIAL PROPERTIES ARE INCLUDING WHAT WILL BE THE TALLEST BUILDING IN ASIA.
11
CENTRE, AND TUNNEL
TAKING SHAPE,
A9 THE SECOND PROJECTS, AS OF A
HE ALSO REFERRED TO MAJOR INFRASTRUCTURAL DEVELOPMENTS SUCH
EXHIBITION AND CONFERENCE THE INTERNATIONAL CROSS-HARBOUR TUNNEL, AND OTHER MAJOR ROAD WELL AS A NEW CONTAINER PORT TERMINAL AND POSSIBLE CONSTRUCTION NEW AIRPORT.
IT IS
REFLECTING LONG-TERM "THESE ARE
INVESTMENTS, VERY BIG THINKING, WAY BEYOND 1997, BY HONG KONG AND FOREIGN INVESTORS. THEY, NOT THE GOVERNMENT, WHO FUND MOST OF THIS ACTIVITY."
TO
1986,
WAS EXPECTED ΤΟ GROW BY SIR DAVID SAID HONG KONG'S ECONOMY OVER 12 PER CENT THIS YEAR, FOLLOWING GROWTH OF 11 PER CENT IN 1986.
IN
THREE THE
YEARS FROM 1984 "PERHAPS MORE IMPORTANT, OVERALL CAPITAL EXPENDITURE ON PLANT AND MACHINERY IN HONG AT AN AVERAGE OF NINE PER CENT PER ANNUM, THE BEST IN OUR HISTORY.
KONG GREW THREE-YEAR RECORD
IN ADDITION, THE NUMBER OF FOREIGN COMPANIES OPERATING TERRITORY WAS INCREASING.
SIR DAVID TOLD THE PRESS CLUB WOULD GIVE SOME FEEL FOR THE TERRITORY, CONTRARY
TO THE
IN THE
THAT THESE FACTS AND FIGURES LEVEL OF BUSINESS
IN THE CONFIDENCE
BY OF
SOME IMPRESSION
DECLINE GIVEN
COMMENTATORS.
CULTURAL STRONG HE ALSO POINTED TO
NOTED THAT AND BETWEEN HONG KONG AND THE U.S.
THE TERRITORY WAS NOT NEW, AS WAS EVIDENCED BY AMERICA AND EUROPE.
THE
PERSONAL
AND EMIGRATION FROM THE CHINATOWNS OF NORTH
LINKS
SOME
THEY
BUT
SAID, BUT THIS WAS THERE WAS ALSO AN OUTFLOW OF CAPITAL, HE
"HONG KONG HAS PRODUCED NOT UNUSUAL GIVEN THE STRONG ECONOMY.
IS NATURAL VERY RICH MEN AND SOME VERY LARGE COMPANIES, AND IT
THIS 15 ASSETS.
DISINVESTMENT, OVERSEAS SHOULD LOOK FOR
H HE SAID. SENSIBLE DIVERSIFICATION,
NOT
/SIR DAVID