TUESDAY, JUNE 7, 1988
SGD OUTLINES REASONS FOR OPTIMISM
THE EVIDENCE OF THE PAST THREE YEARS CLEARLY SHOWS THAT THE JOINT DECLARATION ON HONG KONG'S FUTURE IS WORKING, THE SECRETARY FOR GENERAL DUTIES, MR BARRIE WIGGHAM, SAID
UNITED STATES ON
MONDAY.
IN THE
**
"MEASURES WHICH ARE VITAL TO HONG KONG'S FUTURE ARE BEING IMPLEMENTED IN LINE WITH THE PROVISIONS OF THE JOINT DECLARATION, MR WIGGHAM SAID AT THE INAUGURAL MEETING OF THE HONG KONG ASSOCIATION BOSTON, MASSACHUSETTS.
OF
TO
BOTH THE CHINESE AND THE BRITISH · GOVERNMENTS WERE COMMITTED MAINTAINING THIS PROGRESS, AND IT WAS ALSO CLEAR THAT DOMESTIC AND FOREIGN INVESTORS WERE CONTINUING TO MAINTAIN CONFIDENCE IN HONG KONG, HE SAID IN AN ADDRESS ENTITLED "COUNTDOWN TO 1997--AN INSIDER'S VIEWS".
FOR EXAMPLE, THE TERRITORY'S ECONOMY WAS FLOURISHING, ITS
BUSINESS ROLE WAS EXPANDING, AND THE INTERDEPENDENCE OF HONG KONG AND CHINA CONTINUED TO INCREASE.
REGIONAL
ECONOMIC
MAIN TAKEN TOGETHER, THESE FACTORS FORMED ONE WAS OPTIMISTIC ABOUT THE FUTURE, MR WIGGHAM SAID.
REASON
WHY
HE
TUE OTHER MAIN REASON LAY IN THE FACT THAT EVERYONE INVOLVED IN PARTICULAR THE CHINESE GOVERNMENT--HAD A STRONG INTEREST IN MAKING THE JOINT DECLARATION WORK.
HE POINTED OUT THAT SINCE THE AGREEMENT ON THE JOINT IN DECLARATION, CHINA HAD MADE ENORMOUS CAPITAL AND OTHER INVESTMENTS
-
"IN ADDITION, THE CHINESE GOVERNMENT KNOWS THAT HONG KONG CAN MAKE AN ENORMOUS AND UNIQUE CONTRIBUTION TO THE ACHIEVEMENT OF THEIR OVER-RIDING ECONOMIC GOALS AND THAT
KONG'S HONG
ABILITY TO MAKE THIS CONTRIBUTION DEPENDS ON ITS MAINTENANCE OF ITS CAPITALIST SYSTEM AND OF THE CONFIDENCE OF THE HONG KONG PEOPLE AND OF FOREIGN INVESTORS HE SAID.
1
"FROM MY EXTENSIVE CONTACTS WITH THE CHINESE GOVERNMENT OVER A NUMBER OF YEARS, I KNOW HOW COMMITTED THEY ARE TO MAINTAINING THE VALUE OF THEIR HUGE FINANCIAL AND POLITICAL COMMITMENT AND INVESTMENT IN HONG KONG."
ON WELAT HAD BEEN DONE SO FAR IN IMPLEMENTING THE JOINT PROVISION FOR DECLARATION, MR WIGGHAM REFERRED IN PARTICULAR TO THE MAINTENANCE OF HONG KONG'S OWN INTERNATIONAL ECONOMIC RELATIONS.
/HOW HONG KONG