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FRIDAY, MAY 5, 1989
OF
EVEN
"I BELIEVE THAT CHINA REALISES THAT AGAINST THE BACKGROUND ITS COMMITMENT TO MODERNISING, HONG KONG PLAYS AN IMPORTANT UNIQUE ROLE AND THAT ROLE CAN CONTINUE TO BE OF BENEFIT TO CHINA ONLY IF HONG KONG RETAINS ITS CAPITALIST SYSTEM AND ITS ATTRACTION AS AN INTERNATIONAL CENTRE FOR INVESTMENT, HE SAID.
QUESTIONED ON THE SUBJECT OF CHINA'S COMMITMENT ΤΟ THE SINO-BRITISH JOINT DECLARATION, MR WIGGHAM POINTED OUT THAT THERE WERE MANY REASONS SUPPORTING CHINA'S COMMITMENT TO A SUCCESSFUL OUTCOME OF THE AGREEMENT AND AMONG THESE WERE ITS OWN SELF INTEREST AND MODERNISATION PROGRAMME.
"THE SIGNING OF THE JOINT DECLARATION CAME ABOUT AT APPROXIMATELY THE SAME TIME AS CHINA WAS COMMITTING ITSELF TO A POLICY OF MODERNISATION AND OPENING UP TO THE WORLD, HE SAID.
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MR WIGGHAM SAID THAT CHINA HAD ALWAYS FOUND HONG KONG USEFUL, BUT PERHAPS NEVER MORE SO THAN NOW.
"CURRENTLY, ABOUT 60 PER CENT OF ALL EXTERNAL INVESTMENT IN CHINA COMES FROM OR THROUGH HONG KONG. CHINA ALSO OF COURSE OBTAINS THROUGH HONG KONG ALL THE KNOW-HOW WHICH HONG KONG CAN PROVIDE AS A WINDOW TO THE WESTERN WORLD," HE NOTED.
"HONG KONG AND CHINA ARE EACH OTHER'S LARGEST TRADING PARTNER. CHINA IS THE SECOND LARGEST MARKET FOR OUR DOMESTIC EXPORTS. MUCH OF HONG KONG'S INDUSTRIAL PROCESSING IS NOW BEING SUB-CONTRACTED CHINA," HE SAID.
ΤΟ
THAT IN EMPLOYED
FURTHERMORE, MR WIGGHAM ADDED, IT HAD BEEN ESTIMATED GUANGDONG PROVINCE ALONE, THERE WERE SOME TWO MILLION PEOPLE DIRECTLY OR INDIRECTLY BY HONG KONG BUSINESSMEN, A FIGURE MORE THAN DOUBLE THE SIZE OF HONG KONG'S OWN MANUFACTURING WORK FORCE.
LOOKING TO THE FUTURE, MR WIGGHAM SAID IT WOULD BE IMPOSSIBLE ΤΟ IGNORE THE TREMENDOUS INCENTIVES OFFERED BY SUCH ECONOMIC CONSIDERATIONS TO THE PARTIES CONCERNED TO ENSURE THE FULL AND FAITHFUL IMPLEMENTATION OF THE SINO-BRITISH JOINT DECLARATION.
MR WIGGHAM HAD ALSO GIVEN SEVERAL MEDIA INTERVIEWS AND BACKGROUND BRIEFINGS DURING HIS STAY IN SAN FRANCISCO.
HE CONCLUDES HIS WEST COAST VISIT WITH A BREAKFAST MEETING TODAY (FRIDAY) BEFORE LEAVING FOR HONG KONG.
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