XN000022-1981-10-07 — Page 31

WEDNESDAY, OCTOBER

OCTOBER 7, 1981

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TOYS SEEN AS SHOWCASE FOR HONG KONG INDUSTRY

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THE NOTABLE ACHIEVEMENT BY HONG KONG'S TOY INDUSTRY EXEMPLIFIES THE UNDERLYING STRENGTH OF THE HONG KONG ECONOMY AS A WHOLE AND MOST PARTICULARLY ITS MANUFACTURING AND EXPORTING SECTOR, THE CHIEF SECRETARY, SIR JACK CATER, SAID TODAY (WEDNESDAY).

SPEAKING AT THE OPENING OF THE SEVENTH HONG KONG TOY AND GIFT FAIR, SIR JACK SAID THAT DESPITE ITS RELATIVELY SHORT HISTORY OF ONLY SEVEN YEARS, THE FAIR HAD BECOME AN INTERNATIONAL EVENT, NO LESS THAN A SHOWCASE FOR HONG KONG'S INDUSTRIAL ACHIEVEMENTS OVER A WIDE RANGE OF TOYS AND GIFTWARE.

+THE INCREASING SUCCESS OF THIS FAIR AMPLY REFLECTS THE SUSTAINED AND DYNAMIC GROWTH OF THE HONG KONG TOY INDUSTRY WHICH, IN THE COURSE OF THE LAST TWO DECADES, HAS BECOME THE LARGEST TOY EXPORTER IN THE WORLD, SIR JACK SAID.

HE SAID HONG KONG'S CONTINUED PROSPERITY AS AN ECONOMIC ENTITY RELIED IN LARGE PART UPON THE LOCAL BUSINESS COMMUNITY'S FLEXIBILITY AND ADAPTABILITY, TOGETHER WITH ITS COMMITMENT TO PRODUCING AND EXPORTING A QUALITY PRODUCT AT AN INTERNATIONALLY COMPETITIVE PRICE.

+THIS ENTREPRENEURIAL PHILOSOPHY, BACKED BY A HARD-WORK ING AND EFFICIENT WORK FORCE AND SUPPORTED BY A WORLDWIDE PROGRAMME OF PROMOTIONAL ACTIVITIES BY THE TRADE DEVELOPMENT COUNCIL, HAS CONTRIBUTED TO A SIGNIFICANT DEGREE TOWARDS HONG KONG'S PRÉSENT HIGH WORLD RANKING AS AN IMPORTANT EXPORTER, SIR JACK SAID.

+WE IN HONG KONG MAY TAKE SOME JUSTIFIABLE PRIDE IN OUR EXPORT PERFORMANCE AND ECONOMIC DEVELOPMENT, BUT IF THIS IS TO BE MAINTAINED OUR MANUFACTURING INDUSTRY MUST REMAIN ACUTELY AWARE OF THE CONSTANT NEED TO MONITOR AND TO ACCOMMODATE CHANGES IN THE DEMAND PATTERNS OF OUR OVERSEAS MARKETS.

+ONE OF THE PRIME EXAMPLES OF THIS SENSITIVITY TO INTERNATIONAL DEMAND MUST SURELY BE THE HONG KONG TOY INDUSTRY WHICH, OVER THE YEARS, HAS SUCCEEDED IN MATCHING A RAPID RATE OF EXPANSION WITH INNOVATIVE DESIGN, UPGRADED QUALITY AND A HIGH LEVEL OF PRODUCT DIVERSIFICATION, HE SAID.

WELCOMING OVERSEAS BUYERS TO THE FAIR, SIR JACK SAID: +I AM CONFIDENT THAT THEY WILL FIND MUCH TO INTEREST THEM NOT ONLY IN THE RANGE OF PRODUCTS ON DISPLAY BUT ALSO IN THE MANY NEW TOY AND GIFT ITEMS WHICH HAVE BEEN DEVELOPED HERE IN HONG KONG SINCE LAST YEAR.

SIR JACK ALSO COMMENDED THE 200 HONG KONG COMPANIES

PARTICIPATING IN THE FAIR ON THE IR SUSTAINED EFFORTS AND INITIATIVES WHICH HAD ASSISTED IN MAKING THE TOY INDUSTRY ONE OF HONG KONG'S LEADING EXPORTING SECTORS.

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