2
TUESDAY, OCTOBER 15, 1991
SIR DAVID POINTED OUT THAT THE BUOYANCY OF HONG KONG'S REGIONAL RECESSION MARKETS HAD CUSHIONED THE TERRITORY FROM THE IMPACT OF THE IN NORTH AMERICA AND EUROPE.
"OUR ECONOMY TURNED THE CORNER IN THE FINAL QUARTER OF LAST THAT YEAR, AND THE RECOVERY HAS CONTINUED THIS YEAR," HE SAID, ADDING THE ESTIMATE OF ECONOMIC GROWTH FOR 1991 HAD BEEN REVISED UPWARDS FROM FIVE THREE TO FOUR PER CENT, AND THAT FOR 1992 WAS AT SOMETHING OVER PER CENT.
WOULD
ON THE NEW LEGCO, THE GOVERNOR SAID HONG KONG GOVERNMENT NEED ΤΟ DEVELOP A CONSTRUCTIVE PARTNERSHIP WITH THIS MORE DIRECTLY REPRESENTATIVE LECCO.
THE
"THIS SORT OF PARTNERSHIP WILL BE VITAL TO THE SUCCESS OF TRANSITION TO 1997 AND TO HONG KONG'S CONTINUED SUCCESS THEREAFTER,' HE SAID.
STRESSED THAT WITH THE NEW LEGCO, THERE WOULD DEBATE AND DISAGREEMENTS PUBLICLY AIRED, BUT IT WOULD BE ASSUME THAT THIS REFLECTED DEEP SPLITS IN THE COMMUNITY.
BE SPIRITED WRONG ΤΟ
IT is
A
"IT DOES NOT. HONG KONG IS NOT A POLARISED SOCIETY.
"THE GOVERNOR SAID. COMMUNITY WHICH VALUES PRAGMATISM AND CONSENSUS,
BUSINESS COMPLETELY FREE TO TAKE DECISIONS
(TUESDAY)
THE SECRETARY FOR THE TREASURY, MR K.Y. YEUNG, SAID TODAY
ΤΟ THAT IF HONG KONG SHOULD GET
THE STAGE WHERE GOVERNMENT IS SEEN TO BE SPENDING OR INVESTING SIGNIFICANT INDUSTRIAL RESEARCH AND ON THE COMMERCIAL EXPLOITATION OF
IDEAS, PRESSURES WILL MOUNT FOR THE GOVERNMENT SELECTIVE AND MORE INTERVENTIONIST.
THE
SUMS INDUSTRIAL
IN
TO BECOME
MORE
SPEAKING AT THE OPENING OF THE HONG KONG INTERNATIONAL ELECTRONICS FAIR, MR YEUNG STRESSED THIS WOULD NOT BE GOOD HONG KONG'S ELECTRONICS INDUSTRY, OR FOR ANY INDUSTRY,
HE BECAUSE
NEWS FOR
WORKED IT WORK
EXTREMELY
WERE FREE,
POINTED OUT THAT THE HONG KONG ECONOMY
THE BUSINESS COMMUNITY WHO MADE ABSOLUTELY FREE, TO TAKE BUSINESS DECISIONS.
WELL.
"WE IN THE GOVERNMENT BELIEVE THIS TO BE A SELF-EVIDENT TRUTH BUSINESSMEN WOULD AND I WOULD HAZARD THE GUESS THAT THE MAJORITY OF HAVE IT NO OTHER WAY," .MR YEUNG SAID.
"AS
WE
MORE UP-FRONT OFF THIS
PROGRESS STEADILY TOWARDS CULTIVATING A
WHICH SOME CONSCIOUS INDUSTRIAL SOCIETY - FOR TECHNOLOGY INVESTMENT BY THE GOVERNMENT IS NECESSARY IF ONLY TO SPARK PROCESS WE HAVE TO BE VERY CAREFUL TO AVOID OVER-DOING IT,
/"IN A