WEDNESDAY, JANUARY 31, 1990
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MR YAXLEY ALSO SPOKE ABOUT HONG KONG'S ECONOMIC MIRACLE AND HOW IT HAD MADE THE TERRITORY THE 11TH LARGEST TRADING ENTITY IN THE WORLD, THE LARGEST EXPORTER OF GARMENTS, TOYS, WATCHES AND FROCKS, AND THE WORLD'S THIRD INTERNATIONAL FINANCIAL CENTRE, WHICH ALSO HAD THE LARGEST CONTAINER TERMINAL IN THE WORLD.
HE WAS CONFIDENT THAT THE JOINT DECLARATION WOULD BE ADHERED
EXPLAINED TO, AND
THAT CHINA HAD A GOOD RECORD IN ABIDING BY INTERNATIONAL TREATIES IT HAD SIGNED.
HONG KONG PLAYED A MAJOR ROLE IN CHINA'S LIBERALISED ECONOMY, AND ACTED AS A GO-BETWEEN FOR THE MAINLAND AND THE REST OF THE WORLD. IT ALSO PROVIDED SOUTHERN CHINA WITH THE WORLD'S FINEST HARBOUR IN THE REGION AND A RANGE OF SERVICES THAT WERE UNPARALLELED.
IN ADDITION TO THESE IMPORTANT BENEFITS, MR YAXLEY EXPLAINED THAT HONG KONG WAS CHINA'S LARGEST TRADING PARTNER AND THEIR LARGEST SINGLE MARKET. HONG KONG WAS ALSO CHINA'S LARGEST EXTERNAL INVESTOR ACCOUNTING FOR OVER 60 PER CENT OF ALL FOREIGN DIRECT INVESTMENTS.
MEANWHILE, CHINA ALSO HAD A GROWING STAKE IN HONG KONG'S ECONOMY. CHINA'S INVESTMENT IN BANKING, PROPERTY, MANUFACTURING AND RETAILING WERE GROWING FAST; AND HAD INVESTED IN MANY HONG KONG COMPANIES RANGING FROM CATHAY PACIFIC AIRLINES ΤΟ THE TELEPHONE COMPANY.
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"THE JOINT DECLARATION AND THE 'ONE COUNTRY, TWO SYSTEMS CONCEPT ARE NOT; THEREFORE, POLITICAL ABSTRACTIONS. THEY ARE FIRMLY ROOTED IN A REAL NEED TO PRESERVE A RELATIONSHIP THAT IS OF GREAT PRACTICAL IMPORTANCE TO CHINA AS WELL AS то HONG KONG," MR YAXLEY SAID.
SAI KUNG DISTRICT FESTIVAL BEGINS
THE SA1 KUNG DISTRICT FESTIVAL, FEATURING A VARIETY OF CULTURAL, AND RECREATIONAL ACTIVITIES, IS ONE OF THE BIGGEST EVENTS IN THE DISTRICT AND WILL MAKE THE LUNAR NEW YEAR EVEN MORE JOYFUL, THE SAI KUNG DISTRICT OFFICER, MR FREDERICK TONG, SAID THIS (WEDNESDAY I EVENING.
HE WAS SPEAKING AT THE OPENING CEREMONY OF THE 1990 DISTRICT FESTIVAL,
SAT KUNG
SAT KUNG
MR TONG HOPED THAT LOCAL RESIDENTS WOULD GET TO KNOW BETTER BY TAKING PART IN THE FESTIVAL, THUS ENHANCING THEIR SENSE OF BELONGING TO THE DISTRICT.
"EVERY YEAR, THE ACTIVITIES OF THE DISTRICT FESTIVAL VARY PEOPLE PROM DIFFERENT FIELDS AND OF
GREATLY TO MEET THE NEEDS OF DIFFERENT AGE GROUPS.
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