TUESDAY, SEPTEMBER 27, 1988
6
HK SETS FREE TRADE EXAMPLE: SASI
PROTECT
THAT FREE
ONE'S OWN
HONG KONG'S SUCCESSFUL ECONOMY IS THE BEST EVIDENCE TRADE, AS OPPOSED TO PROTECTIONISM, IS THE WAY TO BEST INTERESTS, THE SECRETARY FOR ADMINISTRATIVE SERVICES AND INFORMATION, MR PETER TSAO, SAID TODAY (TUESDAY).
ADDRESSING THE CENTRE FOR INTERNATIONAL STUDIES IN JAPAN,
MR TSAO POINTED OUT THAT THERE WERE NO RESTRICTIONS OR JAPAN OR OTHER COUNTRIES WISHING TO SELL IN HONG KONG.
"
OBSTACLES FOR
JAPAN IS HONG KONG'S THIRD LARGEST TRADING PARTNER, ACCOUNTING FOR 12 PER CENT OF HONG KONG'S TOTAL EXTERNAL TRADE.
"IN TERMS OF DOMESTIC EXPORTS, JAPAN IS HONG KONG'S FIFTH OUR TOTAL DOMESTIC LARGET MARKET, TAKING UP ALMOST FIVE PER CENT OF EXPORTS.
"ON THE OTHER SIDE OF THE COIN, HONG KONG COINCIDENTALLY ALSO ALMOST FOUR PER RANKS FIFTH AMONG JAPAN'S EXPORT MARKETS, TAKING UP
JAPAN WAS HONG CENT OF JAPAN'S TOTAL EXPORTS," HE SAID, ADDING THAT
CHINA, ACCOUNTING KONG'S SECOND LARGEST SUPPLIER AFTER
FOR 19 PER
CENT OF OUR TOTAL IMPORTS.
HONG
"JAPAN IS OUR SECOND LARGEST FOREIGN INVESTOR AFTER THE UNITED
FIRMS ARE STATES. IN TOTAL, SOME 134 JAPANESE
IN REPRESENTED KONG WITH INVESTMENTS TOTALLING SOME US$514 MILLION,
CONFIDENCE IN
OF "THE FACTORS WHICH HAVE ATTRACTED THIS VOTE
OUR US BY YOU AND OTHER COUNTRIES, INCLUDE OUR GEOGRAPHICAL POSITION,
REST HIGHLY DEVELOPED TRANSPORT AND TELECOMMUNICATIONS LINKS WITH THE
FORCE, SOCIAL AND OF THE WORLD, AN INDUSTRIOUS AND ADAPTABLE LABOUR POLITICAL STABILITY AND A TRUSTWORTHY LEGAL SYSTEM, HE POINTED OUT.
MR TSAO ALSO SAID THAT HONG KONG HAD CONSOLIDATED ITS POSITION AS THE MAJOR ENTREPOT FOR CHINA.
"IN THE PAST TWO YEARS THERE HAS BEEN A
THEIR VALUE HAS RE-EXPORTS OF CHINA ORIGIN EACH YEAR OVER THE LAST THREE YEARS.
GROWN
RAPID
GROWTH IN BY 38 PER CENT
THE
"TO FACILITATE THIS TREND, THERE ARE PLANS FOR DOUBLE-TRACKING OF THE RAILWAY SYSTEM OF EASTERN CHINA FROM BEIJING TO HONG KONG, AND CONSTRUCTION IS IN PROGRESS ON A MOTORWAY FROM GUANGZHOU TO HONG KONG.
SIGNIFICANCE AS REST OF THE
KONG'S "THESE DEVELOPMENTS WILL ENHANCE HONG AN ENTRY AND EXIT POINT FOR TRADE BETWEEN CHINA AND THE WORLD, HE SAID.
**
/IN A