TUESDAY, NOVEMBER 2, 1993
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THERE WAS VAST POTENTIAL IN CHINA TO BE TAPPED AND HONG KONG WAS INDISPUTABLY THE BEST GATEWAY, HE SAID.
HE POINTED OUT THAT THE LISTING OF CHINESE ENTERPRISES IN THE KONG STOCK EXCHANGE HAD OPENED UP NEW VISTAS FOR THE STOCK
HONG MARKET.
"IT IS AN IMPORTANT STEP TOWARDS DEVELOPING HONG KONG'S MARKET INTO A REGIONAL BOURSE," HE SAID.
HONG KONG'S DEBT MARKET ALSO HAD GOOD POTENTIAL FOR FURTHER DEVELOPMENT, HE SAID.
"A NEW CENTRAL AND CLEARING SYSTEM IS BEING DEVELOPED TO FACILITATE SECONDARY TRADING AND TO IMPROVE THE LIQUIDITY OF THE HONG KONG DOLLAR DEBT INSTRUMENTS, MR MACLEOD ADDED.
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A PLACE OF OPPORTUNITIES FOR INDUSTRIES
HONG KONG IS FULL OF OPPORTUNITIES FOR OVERSEAS BUSINESSES INTERESTED IN INVESTING IN HIGH VALUE-ADDED AND HIGH-TECH INDUSTRIES, THE DIRECTOR-GENERAL OF INDUSTRY, MISS DENISE YUE, SAID TODAY
(TUESDAY).
SPEAKING AT THE 24TH WORLD KNITTING CONGRESS IN HONG KONG, MISS YUE SAID LOCAL MANUFACTURING INDUSTRIES WERE UNDERGOING A PROCESS OF TRANSFORMATION.
THERE WAS AN UP-MARKET MOVE THROUGH IMPROVEMENT IN LABOUR PRODUCTIVITY AND AUTOMATION, AND THROUGH MORE CAPITAL INTENSIVE, HIGHER TECHNOLOGY AND HIGHER VALUE-ADDED MANUFACTURING, SHE SAID.
FOR THIS EFFICIENT AND
SHE POINTED OUT THAT THE ESSENTIAL PRE-REQUISITES PROCESS WERE ALREADY PRESENT, FOR EXAMPLE, AN INFRASTRUCTURE, HIGH QUALITY HUMAN RESOURCES, EXCELLENT FINANCIAL BANKING SERVICES AND STRONG INTELLECTUAL PROPERTY RIGHTS.
"IN ADDITION, THE GOVERNMENT IS RENDERING POSITIVE SUPPORT THROUGH THE PROVISION OF MATCHING FUNDS FOR INDIVIDUAL APPLIED RESEARCH AND DEVELOPMENT PROJECTS AND FACILITIES FOR START-UP ENTREPRENEURS IN THE HIGHER TECH INDUSTRIES," SHE ADDED.
MISS YUE SAID THE GOVERNMENT WAS CONSCIOUS OF THE NEED TO CREATE A FAVOURABLE ENVIRONMENT FOR BUSINESS AND INVESTMENT BY PRACTISING MINIMUM INTERFERENCE WITH MARKET FORCES AND MAXIMUM SUPPORT FOR BUSINESSES.
SHE NOTED THAT THE GOVERNMENT ENSURED THAT THERE WAS MACRO-ECONOMIC STABILITY, HAD THE MOST LIBERAL INVESTMENT POLICIES AND PRACTICES IN THE WORLD, OPERATED A FAIR AND JUDICIAL SYSTEM AND INVESTED HEAVILY IN
INFRASTRUCTURE.
EQUITABLE LEGAL AND HUMAN AND PHYSICAL
"ASIDE FROM