XN000022-1972-12-07 — Page 2

Thursday, December 7, 1972

1973 WILL SEE IMPROVEMENT IN TRADE AND INDUSTRY

The Governor, Sir Murray MacLehose, said today he was "tolefably

confident" that 1973 would see an improvement in trade and industry.

Thus, he added, he supported the continued improvement in Hong

Kong's prosperity and the standard of living of the citizens "that is

our object",

Sir Murray was speaking at the official opening of the 30th

Exhibition of Hong Kong Products organised by the Chinese Manufacturers'

Association on the Wan Chai reclamation.

In his address, he spoke of this year's problems for local

industrialists, traders and bankers, future economic and industrial

development and the parts played by organizations and government departments,

the provision of industrial land and crimes.

The Governor said that as 1972 developed, it certainly did produce

its problems for local industrialists and traders. "Bankers, traders

and Government alike have also had to confront the completely unfamiliar

range of problems arising, from the floating of sterling, and the realignment

of the currencies of our major trading partners," he added.

He said 1972 had therefore not been an easy year for Hong Kong,

but he pointed out that "the sort of difficulties we have had are the

common experience of all major exporting communities."

/He pointed .....