2
TUESDAY, MARCH 12, 1991
CHOSEN
VALUED
WE
THE GOVERNOR SAID HONG KONG WAS VERY PROUD TO HAVE BEEN AS A FOCUS FOR THE INTERNATIONAL CEBIT FORUM THIS YEAR AND WE THE OPPORTUNITY TO SHOW WHAT WE WERE CAPABLE OF PRODUCING AND WHAT
OF EAST COULD OFFER COMPANIES INTERESTED IN EXPLORING THE MARKETS ASIA.
EVEN HAVE BEEN THAT WE HAVE BEEN TODAY TIME.
"TEN YEARS AGO I DOUBT THAT HONG KONG WOULD CONSIDERED AS A PARTNER FOR THIS EXHIBITION. SHOWS THAT WE HAVE COME A LONG WAY IN A SHORT
"THE RAPID DEVELOPMENT OF OUR ELECTRONICS INDUSTRY DEMONSTRATES THIS PARTICULARLY WELL," THE GOVERNOR SAID.
HE POINTED OUT THAT HONG KONG'S INDUSTRIAL REVOLUTION WAS MUCH A POST-WAR PHENOMENON AND HONG KONG WAS NEW TO THE SCENE.
REFUGEE WORKFORCE OF THE '50S PRODUCED SIMPLE
**THE
BULBS AND TORCHLIGHTS.
"IN THE '60S WE GRADUATED TO TRANSISTOR RADIOS.
VERY
BATTERIES,
"NOW, AS YOU WILL SEE FROM THE EXHIBITION, HONG KONG'S INDUSTRY CAN TURN ITS HAND TO A WHOLE RANGE OF SOPHISTICATED PRODUCTS FROM HOME MONITORS, INTEGRATED AUDIO AND VIDEO EQUIPMENT, THROUGH HEART-RATE CIRCUITS, COMPUTERS AND COMPUTER PERIPHERALS, TO SATELLITE AND OTHER TELECOMMUNICATIONS DEVICES,
**
HE SAID.
RECEIVERS
ADDED, HONG KONG ACCOUNTED
NOTING THAT INCREASED SOPHISTICATION MEANT HIGHER VALUE THE GOVERNOR POINTED OUT THAT THE ELECTRONICS INDUSTRY IN EMPLOYED ONLY ONE TENTH OF THE TERRITORY'S WORKFORCE BUT IT FOR A QUARTER OF ITS EXPORTS.
IT
"MORE IMPORTANT, HONG KONG IS NO LONGER SIMPLY A PRODUCER. HAS NOW BECOME A PLACE FROM WHICH TRANS-NATIONAL PRODUCTION OPERATIONS ARE MANAGED," THE GOVERNOR SAID.
THE GOVERNOR SAID VALUED TRADING
ON HONG KONG/GERMANY ECONOMIC RELATIONS, GERMANY HAD ALWAYS BEEN ONE OF THE TERRITORY'S MOST PARTNERS.
IN
EXPORTS. MONEY TERMS, PRODUCTS
GERMANY WAS THE THIRD LARGEST MARKET FOR HONG KONG'S AND HONG KONG BOUGHT ALMOST AS MUCH FROM GERMANY PARTICULARLY MACHINERY, TRANSPORT EQUIPMENT, CHEMICAL ELECTRIC APPLIANCES.
BY
GERMAN COMPANIES
"YOU ARE ALSO A SIGNIFICANT INVESTOR IN HONG KONG,
IN THE DM110
INVESTED MILLION PRESENT, HE SAID.
1+
AND
WITH AROUND AT TERRITORY
GERMAN FINANCIERS HAD ALSO BEEN QUICK TO RECOGNISE ROLE HONG KONG PLAYED AS A REGIONAL FINANCIAL CENTRE.
THE VITAL
HONG KONG. COUNTRIES, SIZE.
"ALMOST ALL MAJOR GERMAN BANKS HAVE A PRESENCE IN
45 THEY
DIFFERENT ARE THERE WITH SOME 400 OTHERS FROM INCLUDING 75 FROM AMONGST THE WORLD'S TOP 100 IN TERMS OF ASSET SO WE HAVE NO SHORTAGE OF BANKING POWER AND PLENTY OF COMPETITION," HE SAID.
/THE GOVERNOR