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In short, when you measure all of those achievements against our very small physical size and population and our lack of natural resources, the only conclusion you can come to is that Hong Kong is an economic miracle. This miracle has not come about as a result of any direction or blueprint developed by the Government or indeed any vision provided by bureaucrats like me. The Government's role has been limited to the maintenance of an environment in which business can thrive a free and
open society; the rule of law; a low, simple and stable taxation system; superior physical as well as human infrastructure; and the Government's sound macro- economic policies and firm belief in the benefits of minimum intervention in market forces. Clearly it is not the Government but rather it is a combination of the hard work of the people of Hong Kong, their ingenuity and their entrepreneurial spirit, that has created this economic miracle. And long may this continue to be the case!
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Mr President, many commentators have predicted that the 21st century will be the Asia Pacific Century. I am convinced that they are right. I am equally convinced that, under the principle of "one country, two systems", and as a highly autonomous Special Administrative Region under Chinese sovereignty as a separate customs territory, as a separate member of the World Trade Organization and as a separate economic entity which will continue to enjoy autonomy in the conduct of our external economic relations - Hong Kong is set to enter the Asia Pacific Century as the world's most brilliant example of the triumph of free trade, of free enterprise and of capitalism.
Thank you.
End/Wednesday, June 14, 1995
HK people's interests best served by CFA Bill: AG
The Attorney General, the Hon Jeremy Mathews, has urged Legislative Councillors to support the passage of the Hong Kong Court of Final Appeal Bill the early enactment which was clearly the wish of both the local and international communities.
Speaking at the second reading of the Bill today (Wednesday), Mr Mathews said Councillors had a clear choice.