15
MONDAY, SEPTEMBER 27, 1993
GOVERNMENT COMMITTED TO SUPPORTING INDUSTRY
THE GOVERNMENT IS COMMITTED TO PROVIDING A FAVOURABLE ENVIRONMENT AND THE NECESSARY SUPPORT SERVICES FOR MANUFACTURING INDUSTRY TO PROSPER, THE SECRETARY
TRADE AND INDUSTRY, MR T H CHAU, SAID TODAY (MONDAY).
FOR
SPEAKING AT THE PRESENTATION CEREMONY OF THE FEDERATION OF HONG KONG INDUSTRIES YOUNG INDUSTRIALISTS AWARDS OF HONG KONG 1993, MR CHAU SAID THE GOVERNMENT DID NOT SEEK TO DIRECT WHICH INDUSTRIES SHOULD SHOULD NOT BE DEVELOPED.
** IT
OR
*
HE
LEAVES OUR ENTREPRENEURS TO MAKE THEIR OWN DECISIONS, "DECISIONS WHICH HAVE BROUGHT ABOUT HONG KONG'S ECONOMIC
SAID, SUCCESS."
T
MR CHAU NOTED THAT THESE DECISIONS WOULD SUSTAIN THAT ASTOUNDING ECONOMIC SUCCESS FOR A LONG TIME TO COME
AN ECONOMIC SUCCESS THAT WILL LAST INTO THE 21ST CENTURY, WHICH WILL BE THE ASIA- PACIFIC CENTURY.
HE SAID THERE WAS ONE THING HE WAS CERTAIN ABOUT THE ASIA- PACIFIC CENTURY. "IT IS THAT HONG KONG WILL CONTINUE IN THAT CENTURY TO BE THE WORLD'S MOST GLORIOUS EXAMPLE OF THE TRIUMPH OF FREE TRADE, OF FREE ENTERPRISE AND OF CAPITALISM.'
MR CHAU SAID THE LAST DECADE HAD SEEN A MOST STRIKING STRUCTURAL CHANGE IN HONG KONG'S ECONOMY.
THE CATALYST HAS BEEN THE ADOPTION BY CHINA OF ITS "OPEN DOOR" POLICY AND ECONOMIC REFORMS, MR CHAU SAID.
CHINA'S NEW POLICIES HAD CREATED EXCELLENT
HONG KONG'S MANUFACTURERS,
OPPORTUNITIES FOR
THEY HAD PROVIDED THEM WITH A WAY TO GET AROUND HONG KONG'S LIMITED SUPPLIES OF LAND AND MANPOWER, BY INVESTING IN JOINT VENTURES OR OUTWARD PROCESSING OPERATIONS IN CHINA.
MR CHAU SAID THE EMPHASIS OF HONG INEVITABLY SHIFT IN ORDER TO MAKE FULL OPPORTUNITIES.
KONG
MANUFACTURING WOULD USE OF THOSE EXCELLENT
THE FOCUS WAS INCREASINGLY ON HIGHER-TECHNOLOGY AND HIGHER VALUE-ADDED PRODUCTION, AND ON THE CONTROL, SUPPORT AND SERVICING OF OPERATIONS IN CHINA AND ELSEWHERE IN THE REGION.
"OUR MANUFACTURERS ARE GETTING MORE INVOLVED IN RESEARCHING CUSTOMER NEEDS, IN PRODUCT DESIGN AND DEVELOPMENT, AND IN MARKETING THEIR PRODUCTS."
"OUR MANUFACTURERS ARE DOING ALL OF THAT, AND MORE, IN ORDER TO INCREASE THE COMPETITIVENESS OF THEIR PRODUCTS, HE SAID.
"
THE 1990'S WOULD BE A DECADE IN WHICH HONG KONG'S PROSPERITY WOULD DEPEND TO A SIGNIFICANT DEGREE ON THE ABILITY OF HONG KONG'S MANUFACTURERS TO UPGRADE THEIR PRODUCTS.
0
—