WEDNESDAY, MARCH 2, 1994
ANOTHER FACTOR BEARING ON HONG KONG'S PROSPECTS FOR 1994. WILL THE SUCCESS OF THE CHINESE GOVERNMENT IN MANAGING HIGH RATES OF ECONOMIC GROWTH WHILE AVOIDING SERIOUS OVERHEATING.
BE
"THE CHINESE GOVERNMENT HAS RECOGNISED THE DANGERS OF INFLATION AND HAS ANNOUNCED MEASURES TO DEAL WITH IT, WE MUST HOPE THAT THESE MEASURES ARE SUCCESSFUL.
то
"IN PRODUCING OUR FORECASTS FOR THE COMING YEAR, WHILE WE HAVE TO BEAR IN MIND THESE DOWNSIDE RISKS, WE MUST ALSO GIVE DUE WEIGHT OUR UNDERLYING STRENGTHS."
SERVICING CHINESE ECONOMY ·
#
THE CONTINUING DEVELOPMENT OF THE CHINESE INCREASINGLY THE KEY TO HONG KONG'S FUTURE ECONOMIC FINANCIAL SECRETARY, THE HON SIR HAMISH MACLEOD,
(WEDNESDAY).
ECONOMY IS SUCCESS, THE SAID TODAY
DELIVERING BIS 1994/95 BUDGET IN THE LEGISLATIVE COUNCIL, SIR HAMISH SAID THROUGH SERVICING AND INVESTING IN CHINA, HONG KONG CONTINUED TO FIND NEW MARKETS FOR ITS EXPERTISE IN MANUFACTURING, MARKETING, BANKING, COMMUNICATIONS, TOURISM AND PROFESSIONAL SERVICES.
ALREADY, HONG KONG PLAYS A VITAL AND INCREASING ROLE IN CHINA'S ECONOMIC MODERNISATION:
THE
*
CHINA ACCOUNTED FOR 35% OF OUR TOTAL EXTERNAL TRADE IN 1993.
HONG KONG ACCOUNTED FOR AROUND TWO-THIRDS OF TOTAL EXTERNAL INVESTMENT IN CHINA. IN TURN, CHINA IS PROBABLY THE LARGEST EXTERNAL INVESTOR IN HONG KONG.
RELATIONSHIP IS NOT SIMPLY ABOUT THE FLOWS OF GOODS AND
THERE IS ALSO AN ENORMOUS FLOW OF PEOPLE:
SERVICES.
HONG KONG RESIDENTS MADE NO LESS THAN 23 MILLION VISITS TO CHINESE DESTINATIONS IN 1993.
IN ADDITION, NEARLY 2 MILLION FOREIGN VISITORS USED HONG KONG AS THEIR GATEWAY TO CHINA.
THERE WERE 7.4 MILLION ROAD CROSSINGS BY CARS AND LORRIES.
*
HONG KONG HANDLED 34,000 FLIGHTS TO AND FROM CHINA.
BUT THIS MOMENTUM IN HONG KONG'S' TRADE AND TRAFFIC WITH CHINA CANNOT BE TAKEN FOR GRANTED, THE FINANCIAL SECRETARY SAID.
"IT HAS TO BE NURTURED.
"IT IS CRUCIAL THAT WE CONTINUE TO DEVELOP OUR ROAD, RAIL, AIR AND SEA LINKS WITH GUANGDONG PROVINCE, AND THE REST OF CHINA. WE MUST MATCH THE FLOWS OF PEOPLE, TRADE AND INVESTMENT WITH INFRASTRUCTURE TO SUPPORT THEM, HE ADDED.
T
THE
0
17