3
FRIDAY, APRIL 3, 1992
MR CHAU POINTED OUT THAT SOME COMMENTATORS HAVE REFERRED TO THIS RELATIONSHIP AS ONE OF ECONOMIC INTEGRATION.
"I THINK MYSELF THAT THAT IS THE WRONG TERM. THE CORRECT TERM IN MY VIEW IS ECONOMIC INTERDEPENDENCE," MR CHAU SAID.
1997
THE SINO-BRITISH JOINT DECLARATION GUARANTEES THAT AFTER HONG KONG WILL CONTINUE TO BE A SEPARATE CUSTOMS TERRITORY AND WILL CONTINUE TO MAKE TRADE AND ECONOMIC DECISIONS ON ITS OWN, HE SAID.
"I BELIEVE THAT IT IS BY REMAINING AS AN AUTONOMOUS TRADING PARTNER AND A SEPARATE ECONOMIC ENTITY THAT HONG KONG CAN RETAIN ITS VITALITY AND DYNAMISM AND THEREBY CONTINUE TO PLAY ITS PRESENT HE SAID.
ROLE,"
0
HK AN INTEGRAL PART OF ASIA PACIFIC
—
**
OVER 600 OVERSEAS
COMPANIES
HAVE SET UP THEIR REGIONAL HEADQUARTERS IN HONG KONG TO TAKE ADVANTAGE OF THE TERRITORY'S EFFICIENT INFRASTRUCTURE AND CLOSE TIES WITHIN THE REGION, ASSISTANT DIRECTOR-GENERAL OF INDUSTRY, MR FRANCIS HO, SAID TODAY (FRIDAY).
MR HO WAS SPEAKING ΤΟ
MEMBERS OF THE VICTORIAN FEDERATION IN MELBOURNE AT THE END OF A ONE-WEEK INVESTMENT VISIT TO AUSTRALIA.
EMPLOYERS'
PROMOTION
ACCORDING TO A RECENT SURVEY CONDUCTED BY THE INDUSTRY DEPARTMENT, 602 REGIONAL HEADQUARTERS AND 278 REGIONAL OFFICES WERE SET UP BY OVERSEAS COMPANIES IN HONG KONG AS AT THE MIDDLE OF LAST YEAR.
MR HO SAID HONG KONG HAD ESTABLISHED THE STATURE AS AN INTERNATIONAL FINANCIAL AND SERVICE CENTRE OVER THE YEARS.
"THERE ARE NOW SOME 400 OVERSEAS BANKS REPRESENTED HERE FROM AROUND THE WORLD. OF THE WORLD'S TOP 100 BANKS IN TERMS OF TOTAL ASSETS, 84 ARE PRESENT HERE," HE SAID.
MR HO SAID HONG KONG'S STOCK MARKET WAS ONE OF THE LARGEST AND MOST ACTIVE IN ASIA.
"SOME 350 PUBLIC COMPANIES ARE CURRENTLY LISTED ON THE HONG KONG STOCK EXCHANGE. TOGETHER THEY HAVE A MARKET CAPITALISATION OF ABOUT $125 BILLION.
LARGEST STOCK MARKET IN
"THIS HAS MADE HONG KONG THE THIRD ASIA, AFTER JAPAN AND TAIWAN. MANY OF THE WORLD'S MAJOR SECURITIES HOUSES AND INSURANCE COMPANIES ARE PRESENT HERE, HE SAID.
**
MR HO SAID HONG KONG AND AUSTRALIA WERE BOTH IN PACIFIC WHICH WAS RECKONED TO BE THE FASTEST GROWING AND MOST REGION IN THE WORLD.
THE
ASIA DYNAMIC
/THE REGION
+