រ
FRIDAY, OCTOBER 12, 1990
"HONG KONG IS ALSO A
PARTICULARLY IMPORTANT ENTREPOT
FOR
YORK
NOR COULD CAPITAL FOR THE ASIA-PACIFIC REGION THOUGH WE NEITHER WISH, AFFORD, TO BE BANKERS TO THE WORLD IN THE SENSE THAT LONDON, NEW AND TOKYO NOW ARE," HE SAID.
MR NENDICK NOTED THAT THE CONTRIBUTION OF THE FINANCIAL INCLUDING REAL ESTATE AND BUSINESS SERVICES TO THE ECONOMY KONG HAS GROWN SIGNIFICANTLY IN RECENT YEARS.
SECTOR
OF HONG
"IN
"
IT ACCOUNTED FOR 19 PER 1988,
CENT
PRODUCT
COMPARED WITH A 20 PER CENT SHARE (GDP), INDUSTRY, HE SAID.
GROSS OF
DOMESTIC FOR MANUFACTURING
BY COMPARISON, IN THE EARLY 70S ITS CONTRIBUTION TO ONLY HALF OF THAT OF MANUFACTURING INDUSTRY.
PROVIDES THE LARGEST
GDP WAS
SOURCE
"WHILE MANUFACTURING STILL EMPLOYMENT, THE FINANCIAL SECTOR NOW EMPLOYS WELL OVER A QUARTER OF MILLION PEOPLE," HE SAID.
OF
DEVELOPING NENDICK STRESSED
TURNING TO THE GOVERNMENT'S ROLE IN MAINTAINING AND HONG KONG AS AN INTERNATIONAL FINANCIAL CENTRE, MR THAT THE GOVERNMENT IS FIRMLY COMMITTED TO A FREE MARKET PHILOSOPHY.
"WE SEE OUR ENVIRONMENTAL FLOURISH.
AND
ROLE LEGISLATIVE
AS
THAT
OF PROVIDING
IN FRAMEWORK
THE
NECESSARY
WHICH
BUSINESS CAN
ENTREPRENEURIAL
MAINTAINED
PROVIDED FOR
NON-
"THE LAST THING WE WANT TO DO IS TO STIFLE THE SPIRIT. AS FAR AS OUR FINANCIAL SYSTEM IS CONCERNED, INTERVENTION RESTRICTED TO ENSURING THAT THE INTEGRITY OF THE SYSTEM IS AND THAT A PROPER PROFESSIONAL PARTICIPANTS, HE STRESSED.
MEASURE OF
P
PROTECTION
IS
HONG KONG: AN IMPORTANT CAPITAL ENTREPOT FOR THE ASIA-PACIFIC REGION
FOR
THE IN BUSINESS AS USUAL TODAY, THE DIRECTOR OF SAN FRANCISCO, MR PETER
HONG KONG IS AN
IMPORTANT CAPITAL ENTREPOT ASIA-PACIFIC REGION AND WILL REMAIN VERY MUCH FOR AS FAR AHEAD AS CONCERNS ANY OF US HERE
TRADE OFFICE IN AND HONG KONG ECONOMIC JOHNSON, SAID ON THURSDAY, (OCTOBER 11).
NATIONAL GOVERNOR OF THE IN SAN
ADDRESSING A GROUP THAT INCLUDED A FEDERAL RESERVE BANK, ITS REGIONAL DIRECTORS AND SENIOR STAFF
OVER 400 OVERSEAS BANKS FRANCISCO, MR JOHNSON SAID THERE ARE
ANYWHERE ELSE IN
SOME 50 COUNTRIES IN THE TERRITORY, MORE THAN WORLD EXCEPT NEW YORK AND LONDON.
FROM THE
/"A SURVEY