CONCLUSION
WEDNESDAY, MAY 27, 1992
THE GOVERNMENT SHARES THE VIEWS EXPRESSED TODAY ABOUT THE IMPORTANCE OF A STRONG INDUSTRIAL BASE IN HONG KONG: IT CREATES WEALTH THROUGH EXPORTS; IT PROVIDES EMPLOYMENT FOR MORE THAN 23% OF OUR WORKING POPULATION; IT CONTRIBUTES TO THE DIVERSIFICATION OF OUR ECONOMY, ALLOWING FOR FLEXIBILITY AND ADJUSTMENT; IT IS AN IMPORTANT USER OF SERVICES IN OTHER SECTORS; AND, IN PROVIDING A STIMULUS ΤΟ INDUSTRIAL DEVELOPMENT IN ECONOMIES WITHIN THE REGION, IT CREATES NEW USERS OF HONG KONG'S FINANCIAL, TECHNICAL AND EXPORT SERVICES. WE ALSO RECOGNISE THAT, IN AN INCREASINGLY SOPHISTICATED ECONOMIC STRUCTURE, THE VARIOUS MAJOR SECTORS ARE IN FACT FUNCTIONING IN A HIGHLY COMPLEMENTARY MANNER. OUR AIM FOR THE MANUFACTURING INDUSTRIES IS TO CONTINUE TO PROVIDE THEM WITH THE SUPPORT AND SERVICES THEY NEED TO FLOURISH.
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I HAVE ATTEMPTED TO SHOW THAT, WITHIN THE OVERALL OBJECTIVES OF MINIMUM INTERVENTION AND MAXIMUM SUPPORT, OUR INDUSTRIAL POLICIES HAVE BEEN AND WILL CONTINUE TO BE - SUBJECTED TO A VIGOROUS PROCESS OF CRITICAL REVIEW AND ADJUSTMENT, RESULTING IN THE IMPLEMENTATION OF NUMBER OF IMPORTANT NEW INITIATIVES AND THE GREATER FOCUSSING ON LINKING TECHNOLOGY WITH INDUSTRY. THESE INITIATIVES ARE THE RESULTS OF BOTH CAREFUL RESEARCH AND OF LISTENING TO THE ADVICE AND REQUESTS OF INDUSTRIALISTS. THE SUCCESS OF THESE POLICIES IS EVIDENT FROM THE LARGE INCREASES IN PRODUCTIVITY PER PERSON, THE CONTINUED COMPETITIVENESS OF HONG KONG'S PRODUCTS IN OVERSEAS MARKETS, AND THE INCREASING INFLUENCE OF HONG KONG'S INDUSTRIAL MANAGEMENT AND PRODUCTION METHODS IN THE REGION. WE HAVE NO INTENTION OF ALTERING THE PRINCIPLE OF ALLOWING FREE PLAY TO MARKET FORCES, ON WHICH OUR POLICIES ARE BASED THAT PRINCIPLE HAS WORKED WELL, AND HAS ALLOWED HONG KONG'S INDUSTRIES THE SCOPE, FLEXIBILITY AND IMAGINATION THEY NEED TO FLOURISH IN AN EXPORT-LED ECONOMY.
MR DEPUTY PRESIDENT, THIS DEBATE HAS PROVIDED A VERY TIMELY AND WELCOME FOCUS OF ATTENTION ON AN IMPORTANT SECTOR OF OUR ECONOMY. LET ME ASSURE MEMBERS FIRST THAT THE MANY AND VARIED VIEWS EXPRESSED TODAY WILL BE BORNE IN MIND IN OUR CONTINUING REVIEW OF INDUSTRIAL POLICY AND SECONDLY, THAT THE GOVERNMENT FULLY ACCEPTS THE THRUST OF TODAY'S DEBATE WHICH IS THAT WHATEVER OUR ECONOMIC SUCCESS, WE CANNOT ALLOW OURSELVES TO BE COMPLACENT. IT IS OF VITAL IMPORTANCE THAT THE GOVERNMENT, WITH THE HELP OF THE INDUSTRY AND TECHNOLOGY DEVELOPMENT COUNCIL, SHOULD CONTINUE TO REVIEW THE ADEQUACY AND NATURE OF ITS INDUSTRIAL POLICIES AND SERVICES IF HONG KONG'S MANUFACTURING INDUSTRIES AND INDEED ITS ECONOMY GENERALLY - ARE TO REMAIN HEALTHY, PRODUCTIVE, AND COMPETITIVE.
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