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Mr Chau said he was pleased to see that Hong Kong was graded having the freest economy in the world because the Government had all along been providing the most liberal environment for business and investment. "International trade is Hong Kong's life blood and Hong Kong has thrived because it has an open economy and a free trade policy.
"Coupled with factors such as low tax rates, absence of barriers to foreign investment, a stable currency and a sound financial system, it is no surprise that Hong Kong is regarded the most attractive commercial centre having the freest economy in the world," Mr Chau said.
End/Monday, December 19, 1994
HKMA Chief Executive to visit Beijing
The Chief Executive of the Hong Kong Monetary Authority, Mr Joseph Yam, will depart for Beijing tomorrow (Tuesday) for a three-day official visit at the invitation of the People's Bank of China.
In Beijing, Mr Yam will meet with senior officials of the People's Bank, including Messrs Zhou Zhengqing, Dai Xianglong, Chen Yuan and Zhu Xiaohua.
Mr Yam will also call on the Director of the Hong Kong and Macao Affairs Office of the State Council, Mr Lu Ping.
The Beijing visit is part of the HKMA's regular contacts with senior Chinese officials to enhance mutual understanding and co-operation.
Mr Yam will be accompanied by the Deputy Chief Executive (Banking), Mr David Carse, the Executive Director (Monetary Management), Mr Norman Chan, and Senior Manager (Press and Publications) Ms Julia Leung.
Note to Editors:
For arrangements to cover the event, please contact Mr Osbert Lam of HKMA at 878 1687.
End/Monday, December 19, 1994