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When talking about Hong Kong's economic prospects, Mrs Chan said apart from China, Hong Kong had established a wider economic role in relation to the Asia-Pacific region as a whole.
"First and foremost is the rapid expansion in our trade links with other economies in the region.
"More specifically, our trade with the APEC economies has grown by an
five past average of 17 per cent per annum over the
years.
In 1994, the APEC (Asia Pacific Economic Co-operation) economies taken together accounted for 80 per cent of Hong Kong's total visible trade, with a 76 per cent share of the territory's exports and an 84 per cent share in imports.
Mrs Chan also noted that Hong Kong was amongst the top five trading partners for the other three Asian dynamic economies namely Taiwan, Singapore and South Korea, as well as for Vietnam and the Philippines.
For other economies in East Asia such as Japan, Thailand and Malaysia, Hong Kong's ranking as their major trading partner is within the top 10.
On outward investment, Mrs Chan said Hong Kong had invested US$50 billion in China. In Indonesia, Hong Kong is the second largest source of foreign direct investment, with a total investment value of US$13.7 billion.
The territory also ranks among the top three foreign investors in Vietnam, Thailand and Taiwan, with the respective direct investment ranging from US$1.6 billion to US$2 billion.
The investment in all the East Asian economies taken together, excluding China, is estimated to be in the region of US$24 billion.
End/Thursday, April 20, 1995