THURSDAY, JUNE 27, 1991
CLOSE PARTNERSHIP BETWEEN HONG KONG AND CHINA BENEFICIAL
AND
CHINA A KEY FACTOR IN THE GROWTH OF BOTH
HONG KONG BEEN THE MUTUALLY BENEFICIAL TRADING AND INVESTMENT RELATIONSHIP, FINANCIAL SECRETARY (DESIGNATE), MR HAMISH MACLEOD, SAID IN AUSTRIA.
ΤΟ
HAS
THE
HONG KONG IN THE
MR MACLEOD SAID THIS MUTUAL IMPORTANCE OF CHINA AND
THE
UNDERLYING FACTOR
MOST
EACH OTHER WAS
POSITIVE ASSESSMENT OF HONG KONG'S FUTURE SUCCESS.
SPEAKING
AT THE
EUROPE/ASIA
1991 CONFERENCE
IN VIENNA
YESTERDAY (WEDNESDAY), MR MACLEOD SAID A DRAMATIC ILLUSTRATION OF HONG KONG MANUFACTURERS THIS CLOSE PARTNERSHIP WAS THE EXPANSION OF INTO THE NEIGHBOURING GUANGDONG PROVINCE OF CHINA.
"ACCORDING TO PROVINCIAL STATISTICS, HONG KONG MANUFACTURERS NOW OPERATE SOME 50,000 OUTWARD PROCESSING FACTORIES AND 11,000 VENTURE FACTORIES, EMPLOYING OVER TWO MILLION CHINESE WORKERS.
"HONG KONG'S OWN MANUFACTURING WORKFORCE BY 800,000 AND UNEMPLOYMENT EFFECTIVELY NON-EXISTENT.
JOINT
CONTRAST IS ONLY
NATION MOST OTHER ARE BRIGHT,
"ALTHOUGH THE ISSUE OF RENEWAL OF CHINA'S MOST FAVOURED STATUS BY THE U.S. CURRENTLY CASTS A SHADOW OVER THIS AREA, FACTORS INDICATE THAT PROSPECTS FOR FURTHER DEVELOPMENT HE STRESSED.
MR MACLEOD SAID HONG KONG AND CHINA WERE EACH OTHER'S PRINCIPAL TRADING PARTNERS.
FOR
IN
"CHINA IS NOW THE LARGEST MARKET
HONG KONG'S RE-EXPORTS OUR DOMESTIC EXPORTS. CHINA, AND THE SECOND LARGEST MARKET FOR TURN, SENDS OVER ONE-THIRD OF ITS MERCHANDISE EXPORTS TO HONG KONG THROUGH HONG KONG TO OTHER DESTINATIONS.
OR
CHINA AND HONG KONG WERE ALSO
CLOSE INVESTMENT
PARTNERS, НЕ
ADDED.
NON-LOCAL UNITED
"ON THE ONE HAND, CHINA IS THE THIRD LARGEST
MANUFACTURING INDUSTRIES AFTER THE INVESTOR IN HONG KONG'S STATES AND JAPAN.
SINGLE LARGEST INVESTOR "ON THE OTHER HAND, HONG KONG IS THE
FOR ABOUT TWO-THIRDS OF ALL IN CHINA, ACCOUNTING
DIRECT FOREIGN INVESTMENT, ESTIMATED AT NEARLY US$19 BILLION.
"THIS ECONOMIC
INTER-DEPENDENCE
HAS
DESPITE CONTINUED
THE
EVENTS WHICH TOOK PLACE IN CHINA IN JUNE 1989.
"CHINA HAS SINCE REPEATEDLY RE-AFFIRMED ITS 'OPEN DOOR' POLICY.
CHINA CLEARLY HONG KONG WILL CONTINUE TO PLAY A PIVOTAL ROLE BETWEEN
CONCEPT AND THE WEST AFTER 1997, UNDER THE ONE COUNTRY, TWO SYSTEMS' ENSHRINED IN THE JOINT DECLARATION AND THE BASIC LAW,
HE SAID.
/TURNING TO