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WEDNESDAY, NOVEMBER 16, 1988
"CHINA IS NOW OUR LARGEST TRADING PARTNER, WITH PARTICULAR IMPORTANCE IN OUR RE-EXPORT TRADE," THE FINANCIAL SECRETARY SAID.
MR JACOBS SAID HE WHOLEHEARTEDLY AGREED WITH REMARKS THAT THERE WAS A NEED TO INCREASE THE COMPETITIVENESS AND TECHNOLOGICAL LEVEL OF HONG KONG'S MANUFACTURING INDUSTRY.
"MUCH IS BEING ACHIEVED THROUGH THE WORKING OF MARKET FORCES, BUT THE ADMINISTRATION IS ALSO LENDING SIGNIFICANT ASSISTANCE IN THIS REGARD, THE FINANCIAL SECRETARY SAID.
"AUTOMATION AND THE USE OF HIGHER TECHNOLOGY 19 CONTRIBUTING TO THE UPGRADING OF OUR INDUSTRIAL SECTOR, AND WE ARE ENJOYING THE BENEFITS OF A CONTINUING STREAM OF NEW HIGHER TECHNOLOGY INVESTMENTS FROM OVERSEAS, PARTICULARLY FROM THE U.S.A. AND JAPAN," HE ADDED.
MR JACOBS NOTED THAT WHILE INITIATIVES ALREADY UNDER CONSIDERATION, SUCH AS THE PROPOSALS FOR A TECHNOLOGY CENTRE AND A THIRD INDUSTRIAL ESTATE, HAD BEEN WELCOMED, THERE WERE INEVITABLY CALLS FOR MORE TO BE DONE.
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"OF COURSE, WE ARE IN A DYNAMIC SITUATION AND I ACCEPT THAT CAN NEVER AFFORD TO REST ON OUR LAURELS IF WE ARE TO REMAIN COMPETITIVE, HE SAID.
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HE AGREED THAT MAXIMUM USE SHOULD BE MADE OF PRIVATE REPRESENTATIVES ON BODIES SUCH AS THE INDUSTRY DEVELOPMENT BOARD AND THE PRODUCTIVITY COUNCIL, BOTH OF WHOM PLAYED KEY ROLES IN HONG KONG'S INDUSTRIAL DEVELOPMENT, IN ORDER TO ACHIEVE AN EFFECTIVE DIALOGUE.
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"IT IS OF IMPORTANCE THAT WE SECURE THE RIGHT INPUT, THIS END WE HAVE DECIDED TO RESTORE FORMAL REPRESENTATION PRINCIPAL TRADE AND INDUSTRIAL ORGANISATIONS ONTO THE INDUSTRY DEVELOPMENT BOARD," SAID MR JACOBS.
"IT IS WORTH UNDERLINING THE EXTENT OF OUR COMMITMENT OF RESOURCES TO THE INDUSTRIAL DEVELOPMENT PROGRAMME, HE ADDED.
"IN RESPECT OF THE PRODUCTIVITY COUNCIL ALONE, THE GOVERNMENT SUBVENTION HAS MORE THAN DOUBLED, FROM $37 MILLION IN 1985-86 TO #91 MILLION IN THE CURRENT FINANCIAL YEAR, HE SAID.
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"BUT WE NEED TO LOOK IMAGINATIVELY AT PROBLEM AREAS IN ORDER TO SEE HOW THEY CAN BE REMOVED OR REDUCED, MR JACOBS SAID.
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THE FINANCIAL SECRETARY SAID AN EXAMPLE OF WHAT WAS BEING DONE WAS IN THE FIELD OF MANPOWER TRAINING AND NEW TECHNOLOGIES.
/HE POINTED