XN000022-1980-10-08 — Page 2

WEDNESDAY, OCTOBER 8, 1980

HK

WORLD'S LEADING TOY EXPORTER

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THE GOVERNOR SIR MURRAY MACLEHOSE, TODAY (WEDNESDAY) SAID HONG KONG HAS BECOME THE WORLD'S LEADING TOY EXPORTER.

SPEAKING AT THE OPENING OF THE SIXTH HONG KONG TOY AND GIFT FAIR ORGANISED BY THE HONG KONG TRADE DEVELOPMENT COUNCIL, THE GOVERNOR ALSO NOTED THAT THE INDUSTRY IS THE THIRD LARGEST COMPONENT OF OUR EXPORTS.

SIR MURRAY POINTED OUT THAT THE GROWTH HAS BEEN PHENOMENAL AND PROSPECTS EXCELLENT.

+OUR TOY EXPORTS INCREASED MORE THAN FOUR-FOLD IN THE LAST DECADE TO OVER $5 000 MILLION LAST YEAR, HE SAID.

THE GOVERNOR ADDED THAT ALREADY THIS YEAR (FIRST SEVEN MONTHS) THE INDUSTRY SCORED A FURTHER 24 PER CENT INCREASE OVER THE CORRESPONDING PERIOD LAST YEAR.

SIR MURRAY PRAISED THE CONTINUED EFFORTS OF THE TRADE DEVELOPMENT COUNCIL FOR THE SUCCESS.

+UNDER THE LEADERSHIP OF SIR Y.K. KAN THE COUNCIL'S COMPREHENSIVE ANNUAL PROGRAMME OF TRADE PROMOTION HAS TAKEN OUR PRODUCTS TO BUYERS' DOORSTEPS ALL OVER THE WORLD,+ HE SAID.

FOLLOWING IS THE FULL TEXT OF THE GOVERNOR'S SPEECH:

+ IT IS ALWAYS A PLEASURE TO COME TO THE HONG KONG TOY AND GIFT FAIR AND TO FIND ONESELF AMONGST HARD-NOSED BUSINESSMEN WHOSE TRADE MUST BE THE ENVY OF EVERY CHILD.

+THE TOY INDUSTRY IS ONE OF HONG KONG'S MANY SUCCESS STORIES, IT IS A SHINING EXAMPLE OF THE SPIRIT OF ENTERPRISE AND ADAPTABİLİTY WHICH HAS STOOD US IN SUCH GOOD STEAD OVER THE LAST TWO DECADES.

+WHAT STARTED AS AN UNLIKELY OFF-SHOOT OF THE PLASTICS INDUSTRY, HAS PROGRESSED TO BECOME THE THIRD LARGEST COMPONENT OF OUR EXPORT INDUSTRY. MORE THAN THIS, HONG KONG HAS BECOME THE WORLD'S LEADING TOY EXPORTER AND THIS IS A POSITION WE INTEND TO RETAIN.

+GROWTH HAS BEEN PHENOMENAL AND PROSPECTS ARE EXCELLENT. OUR TOY EXPORTS INCREASED MORE THAN FOUR-FOLD IN THE LAST DECADE TO OVER FIVE THOUSAND MILLION DOLLARS LAST YEAR.

+ALREADY THIS YEAR (FIRST SEVEN MONTHS) THE INDUSTRY HAS SCORED A FURTHER 24 PER CENT INCREASE OVER THE CORRESPONDING PERIOD LAST YEAR. A LARGE PART OF THIS SUCCESS COMES FROM THE CLOSE COLLABORATION BETWEEN OUR TOY MANUFACTURERS AND THE ELECTRONICS INDUSTRY.

+ I HAVE NO DOUBT THAT WITH INCREASING SOPHISTICATION THIS RELATIONSHIP WILL BECOME EVEN CLOSER.

T