18
WEDNESDAY, APRIL 20, 1988
QUOTING A STATEMENT BY THE SINGAPORE FINANCE MINISTER, MR CHEONG-LEEN SAID IT SHOULD COME AS A RUDE SHOCK TO ALL IN HONG KONG THAT THE MIDDLE INCOME GROUPS WERE PAYING HIGHER TAXES THAN THEIR COUNTERPARTS IN SINGAPORE.
ON ECONOMIC RELATIONS WITH CHINA, HE SAID THAT IN ORDER ΤΟ STAY COMPETITIVE IN EXPORTS, HONG KONG WOULD HAVE то KEEP ON EXPANDING ECONOMIC INTEGATION WITH THE MAINLAND, THROUGH MORE SUB-CONTRACTING OF MANUFACTURE OF GOODS IN LABOUR-INTENSIVE INDUSTRIES.
UP,
"HONG KONG'S ECONOMIC FUTURE IS ALREADY INEXORABLY LINKED WITH CHINA'S ECONOMIC REFORMS, AND THE FASTER CHINA OPENS
THE FASTER WILL BE THE ECONOMIC INTERFACE BETWEEN HONG KONG AND THE CITIES IN CHINA WHICH ARE SEEKING TO EXPORT THEIR PRODUCTS TO THE OUTSIDE WORLD, HE SAID.
"
"AS A REGIONAL COMMERCIAL, INDUSTRIAL, COMMUNICATIONS AND FINANCIAL CENTRE, HONG KONG IS PLAYING AN INDISPENSABLE ROLE IN CHINA'S ECONOMIC DEVELOPMENT IN THE 21ST CENTURY.
"AS THE HUB OF ASIA AND AN IMPORTANT INTERNATIONAL CITY IN REGION, HONG KONG IS ALREADY CHINA'S STRONGEST ECONOMIC LINK, WITH REST OF THE WESTERN INDUSTRIALISED WORLD.
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MR CHEONG-LEEN ALSO SAID THAT WITH THE OPENING OF THE CONVENTION CENTRE THE GOVERNMENT SHOULD REVIEW EXISTING POLICIES RELATING TO EASTERN BLOC COUNTRIES BOTH IN TRADE AND TOURISM.
FIVE
TOURISM WAS A MAJOR AND EXPANDING SERVICE INDUSTRY FOR HONG KONG, WITH VISITOR TRAFFIC EXPECTED TO RISE THIS YEAR то ABOUT MILLION.
HE URGED THE GOVERNMENT TO REDUCE THE AIRPORT DEPARTURE AND HE SPOKE AGAINST THE INCREASE IN RATES WHICH AFFECTED HOTELS, ALSO AGAINST THE POSSIBILITY OF A SALES TAX.
TAX AND
ON DEFENCE COSTS, MR CHEONG-LEEN SAID ALTHOUGH THE TERMS OF THE NEW AGREEMENT HAD NOT YET BEEN FINALISED, IT WAS POSSIBLE THAT BRITAIN WAS ONLY PREPARED TO REDUCE HONG KONG'S CONTRIBUTION TO 70 PER CENT FROM THE PREVIOUS 75 PER CENT. AS AGAINST HONG KONG'S PROPOSAL THAT THE COSTS SHOULD BE SPLIT ON A 50-50 BASIS.
"AS THE BORDER CONTROL FUNCTIONS CURRENTLY PERFORMED BY THE BRITISH ARMY WILL IN FUTURE BE TAKEN OVER BY HONG KONG POLICE, I BELIEVE IT WOULD BE FAIRER TO HONG KONG IF THE PERCENTAGE WERE TO BE PROGRESSIVELY REDUCED YEAR BY YEAR BY FIVE то 10 PER CENT UNTIL PARITY FOR SHARING THE COSTS IS REACHED, HE SAID.
"
ON REFUGEES, HE SAID WITH EACH PASSING YEAR VIETNAMESE REFUGEES COMING TO HONG KONG SEEMED INTRACTABLE WITH NO LIGHT AT THE END OF THE TUNNEL.
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PROBLEM OF
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GET MORE
/HE SAID