TUESDAY, JANUARY 23, 1990
6
HK CONTINUES TO BE RESILIENT, ADAPTABLE
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FI
HONG KONG
TO CONTINUES
SHOW ITS 'IMPRESSIVE RECORD THE REGIONAL SECRETARY FOR HONG RESILIENCE AND ADAPTABILITY" AND KOWLOON, MR DAVID LAN, SAID IN CANADA TODAY (TUESDAY).
]
OF
KONG
IN A SPEECH ENTITLED "THE EVER SHINING PEARL OF THE ORIENT" THE MANDARIN CLUB OF TORONTO, MR LAN SAID THE FOLLOWING
ABILITY OF DEVELOPMENTS SERVED TO ILLUSTRATE THE TERRITORY'S
TIDING
то
OVER ADVERSITIES:
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IN JULY LAST YEAR, A SITE COMPANY FOR US$350 MILLION;
IN CENTRAL WAS BOUGHT BY A
INTERNATIONAL TERMINALS
SHORTLY AFTER THAT, THE HONG KONG ARRANGED A SYNDICATED LOAN FOR US$1.35 BILLION. THE SYNDICATE INCLUDED U.S. JAPANESE AND LOCAL INTERESTS, THE LOAN PERIOD EXTENDS BEYOND 1997; AND
AND
ON AUGUST 1 THE GOVERNMENT LET THE FRANCHISE FOR THE WORLD'S BIGGEST CABLE TELEVISION SYSTEM ΤΟ A CONSORTIUM FORMED BY U.S BELGIUM AND LOCAL INTERESTS. THE CONSORTIUM HAS PLEDGED US$700 MILLION TOWARDS COMPLETION OF TRIS MASSIVE PROJECT.
"THESE ARE THE DECISIONS OF RATIONAL, PRUDENT
IS CLEAR THAT THEY ARE CONFIDENT
THAT
BUSINESSMEN.
IT
HONG KONG'S DYNAMIC ECONOMY
WILL BE CARRIED THROUGH INTO THE 21ST CENTURY," MR LAN SAID.
MR LAN POINTED OUT THAT FOUR YEARS AFTER THE SIGNING OF THE JOINT DECLARATION, HONG KONG REMAINED A "THRIVING BUSINESS HUB" IN THE ASIAN PACIFIC RIM.
"THE JOINT DECLARATION PROVIDES THE BLUEPRINT FOR OUR FUTURE.
ACHIEVED 90 MUCH DETAILED WORK REMAINS TO BE DONE. BUT WHAT HAS BEEN FAR HAS BEEN ENCOURAGING, HE NOTED.
[
IN 1988, HONG KONG'S PER CAPITA GDP HAD REACHED US$9,600, SECOND ONLY TO JAPAN IN EAST ASIA, HE ADDED.
MR LAN ALSO SAID THAT FOREIGN INVESTMENTS AND CAPITAL CONTINUE TO GROW.
THERE HAD BEEN INCREASES IN THE NUMBER OF WESTERN CORPORATIONS SETTING UP OFFICES IN HONG KONG, AND INTERNATIONAL BANKS HAD ALSO SHOWN REEN INTEREST IN SETTING UP BRANCHES IN THE TERRITORY.
"SOME 75 PER CENT OF THE TOP 100 BANKS IN THE WORLD ARE ALREADY IN HONG KONG.
"ALTHOUGH WE ALREADY HAVE 166 LICENSED BANKS, OF WHICH 134 ARE THE PART OF FROM OVERSEAS, THERE SEEMS TO BE NO LACK OF INTEREST ON POTENTIAL NEWCOMERS.
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