THURSDAY, APRIL 26, 1990
1
FUTURE OF HK AND CHINA DEPENDS ON EACH OTHER
OF
THAT ECONOMIC
HONG KONG'S FUTURE IS NOW SO IRREVOCABLY LINKED TO CHINA THAT HONG KONG PEOPLE SHOULD START LOOKING AT THE GROWTH OF THE TWO PLACES IN TERMS OF A SINGLE ENTITY AND OF MUTUAL BENEFIT, OTHERWISE, BOTH WILL SINK TOGETHER - A SCENARIO THAT BE IN THE TERRITORY'S INTEREST, THE HON STEPHEN CHEONG, SAID IN LEGISLATIVE COUNCIL TODAY (THURSDAY).
CANNOT THE
SPEAKING IN THE BUDGET DEBATE, MR CHRONG URGED THE COMMUNITY TO RECOGNISE THE FACT THAT THE WELL-BEING OF HONG KONG PEOPLE DEPENDED TO A LARGE EXTENT ON THE PROSPERITY AND STABILITY OF CHINA.
HE NOTED THAT CHINA'S ECONOMY HAD NOW SOMEWHAT REGAINED ITS EQUILIBRIUM, AND NOTHING SHOULD BE DONE TO JEOPARDISE THIS.
"DISEQUILIBRIUM IMMEDIATELY MEANS SEVERE ADVERSE DISLOCATIONS IN OUR ENTREPOT TRADE; IN THE ACTIVITIES OF HONG KONG'S VITAL PRODUCTION SUPPORT BASE ACROSS THE BORDER.
"FURTHERMORE, DISEQUILIBRIUM MEANS A BIG DROP IN OUR RETAIL BUSINESS AND IN THE NUMBER OF TOURISTS COMING THROUGH HONG KONG. IN SHORT, PRACTICALLY ALL ECONOMIC ACTIVITIES IN HONG KONG WILL BE AFFECTED, MR CHEONG SAID.
...
HE EXPRESSED EXTREME CONCERN ABOUT THE KNOCK-ON EFFECTS THAT THE RECENT MOVES BY U.S. POLITICIANS TO USE THE MOST FAVOURED NATION STATUS AS A POSSIBLE SANCTION TOOL AGAINST CHINA WOULD HAVE ON HONG KONG'S ECONOMY.
HE URGED THE LOCAL BUSINESS COMMUNITY ΤΟ MAKE ITS CONCERN KNOWN TO ITS TRADING PARTNERS IN THE U.S AND TRY TO
PERSUADE ITS COUNTERPARTS IN THE U.S. TO LOBBY THEIR OWN POLITICIANS AGAINST THIS
MOVE.
+
"TO THOSE HONG KONG PEOPLE WHO CLAMOUR FOR AND SUPPORT U.S. TRADE SANCTION AGAINST CHINA, MAY I RESPECTFULLY URGE THEM TO CLIMB DOWN FROM SUCH SENSELESS AND IRRESPONSIBLE BANDWAGON, HE SAID.
It
ΤΟ
IF THEY WERE LOYAL TO HONG KONG AND CARING FOR ITS CITIZENS, THEY SHOULD PERSUADE THEIR POLITICAL FRIENDS IN THE U.S. CONGRESS ABANDON THE MOVE, HE ADDED.
COMMENTING ON
THE
THE BUDGET, MR CHEONG CRITICISED GOVERNMENT'S MOVE OF SETTING ASIDE BILLIONS OF DOLLARS FOR THE LAND FUND OF THE HKSAR AS AN EXPENDITURE ITEM.
HE POINTED OUT THAT IN SO DOING, THE MONEY HAD THEORETICALLY BEEN USED, AND COUPLED WITH CURRENT ARRANGEMENTS, THE FUTURE LEGISLATURE WOULD NOT BE ABLE TO OVERSER THE DISBURSEMENTS OF THIS
SUM.
/THIS WOULD