WEDNESDAY, MAY 26, 1993
"THIS ENHANCES HONG KONG'S POSITION AS AN COMMERCIAL AND FINANCIAL CENTRE.
INTERNATIONAL
"OUTWARD PROCESSING ACTIVITIES IN CHINA ALSO ALLOW HONG KONG COMPANIES TO CONCENTRATE THEIR EFFORTS
MARKETING AND DEVELOPING MORE CAPITAL INTENSIVE, HIGHER TECHNOLOGY, AND HIGHER VALUE ADDED MANUFACTURING IN HONG KONG AND TO MOVE UP MARKET, MR FUNG SAID.
HAD
HE NOTED THAT INVESTMENT IN INDUSTRIAL PLANT AND MACHINERY INCREASED BY 11 PER CENT AND LABOUR PRODUCTIVITY BY 18 PER CENT LAST YEAR.
THUS, NOTWITHSTANDING
THE CHANGES то HONG KONG'S BCONOMIC STRUCTURE WHICH HAD SEEN A REDUCED SHARE OF MANUFACTURING TO THE GDP, THE ACTUAL VOLUME OF INDUSTRIAL OUTPUT HAD NOT DECLINED AND THERE STILL EXISTED A STRONG, LEANER AND MORE EFFICIENT INDUSTRIAL BASK IN HONG KONG, HE SAID.
MR FUNG POINTED OUT THAT A MERE FAVOURABLE LOCATION WAS, HOWEVER, NO GUARANTEE FOR, AND COULD NOT IN FACT FULLY EXPLAIN, HONG KONG'S ECONOMIC SUCCESS.
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"THE HONG KONG GOVERNMENT IS CONSCIOUS OF THE NEED TO CREATE FAVOURABLE ENVIRONMENT FOR BUSINESS AND INVESTMENT AND OUR POLICIES AND ACTIONS OVER THE YEARS HAVE PROVEN TO BE CORRECT IN THIS CONTEXT.
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"THEY STEM FROM A FREE ENTERPRISE AND FREE TRADE POLICY BASED UPON A PHILOSOPHY OF MINIMUM INTERFERENCE WITH MARKET FORCES AND MAXIMUM SUPPORT FOR BUSINESS, HE SAID.
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PLANNING STUDY COMMISSIONED
THE PLANNING DEPARTMENT TODAY (WEDNESDAY) SIGNED A $2.5 MILLION AGREEMENT WITH A CONSULTANCY FIRM TO CARRY OUT A STUDY ON PORT BACK-UP LAND AND OPEN STORAGE REQUIREMENTS.
A SPOKESMAN FOR THE DEPARTMENT SAID THE STUDY WOULD EXAMINE THE EXISTING PATTERNS AND PROBLEMS OF CONTAINER BACK-UP USES AND OTHER TYPES OF OPEN STORAGE IN THE TERRITORY.
THE FINDINGS WILL BE USED TO ASSESS THE FUTURE LAND REQUIREMENTS FOR EACH TYPE OF USE AND TO IDENTIFY SUITABLE LOCATIONS TO ACCOMMODATE THE FORECAST DEMAND, TAKING INTO ACCOUNT THE ENVIRONMENTAL, TRAFFIC AND OTHER IMPLICATIONS.
IN THE STUDY, A FIELD SURVEY OF ALL THE EXISTING SITES, AND A QUESTIONNAIRE SURVEY OF THE OPERATORS WILL BK CONDUCTED ON THE OPERATIONAL CHARACTERISTICS AND PROBLEMS ENCOUNTERED.
/THE SPOKESMAN