XN000022-1983-03-06 — Page 3

SUNDAY, MARCH 6, 1983

INDUSTRIAL MISSION TO CALIFORNIA A SUCCESS

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SEVERAL INDUSTRIAL PROJECTS INVOLVING CO-OPERATION BETWEEN HONG KONG AND U.S. INTERESTS ARE EXPECTED TO BE CONCLUDED FOLLOWING

· RECENT VISIT TO CALIFORNIA BY AN INDUSTRIAL INVESTMENT MISSION CRGANISED BY THE INDUSTRY DEPARTMENT.

THE INDUSTRIALISTS WHO HAVE RETURNED FROM THE MISSION ARE NOW DISCUSSING FURTHER WAYS OF COOPERATING WITH THEIR POTENTIAL PARTNERS WHOM THEY MET IN THE SILICON VALLEY OF CALIFORNIA.

A TOTAL OF NINE HONG KONG INDUSTRIALISTS TOGETHER WITH DR ANDREW CHUANG, THE MANAGING DIRECTOR OF CHUANGS'S (HOLDINGS) LTD: MR VIC MILLER, CHIEF EXECUTIVE OF THE HONG KONG INDUSTRIAL ESTATES CORPORATION; MR ROBERT ASHWORTH, PRINCIPAL CONSULTANT OF THE INDUSTRY DEPARTMENT'S SAN FRANCISCO INDUSTRIAL PROMOTION OFFICE, PARTICIPATED IN THE MISSION LED BY MR PAUL WONG, THE DEPUTY DIRECTOR OF INDUSTRY.

+THIS WAS THE FIRST OF A SERIES OF MISSIONS WE HAVE PLANNED WITH PARTICIPATION BY LOCAL INDUSTRIALISTS. A MISSION HAS JUST RETURNED FROM JAPAN OVER THE WEEKEND AND OTHER MISSIONS HAVE BEEN SCHEDULED TO VISIT SWEDEN AND THE FEDERAL REPUBLIC OF GERMANY, MR WONG SAID.

+WE MADE KNOWN TO THE ELECTRONICS INDUSTRY IN THE SILICON VALLEY THE VALUE OF HONG KONG AS A BASE FOR OFFSHORE MANUFACTURING INVESTMENTS AND MET COMPANIES INTERESTED IN DISCUSSING JOINT OPERATIONS IN HONG KONG.+

AT A SEMINAR IN THE SILICON VALLEY, MR WONG, DR CHUANG AND MR MILLER DISCUSSED WITH MORE THAN THIRTY EXECUTIVES FROM U.S. ELECTRONICS FIRMS THE INVESTMENT CLIMATE AND OTHER FACTORS CONCERNING INDUSTRIAL INVESTMENTS IN HONG KONG.

A SERIES OF INDIVIDUAL MEETINGS WERE ALSO ORGANISED TO ENABLE THE MISSION MEMBERS TO DISCUSS WITH THE IR POTENTIAL PARTNERS JOINT VENTURE PRODUCTION OF HIGH TECHNOLOGY ELECTRONIC PRODUCTS IN HONG KONG.

THE MISSION ALSO VISITED THE STANFORD RESEARCH INSTITUTE (SR!) WHERE THEY WERE BRIEFED BY SEVERAL SPECIALISTS ON THE DEVELOPMENT OF THE ELECTRONICS INDUSTRY, ESPECIALLY OF SEMI-CONDUCTORS AND CABLE TV SYSTEMS.

THE HONG KONG INDUSTRIALISTS FOUND THAT THE SRI - A MAJOR NON-PROFIT MAKING RESEARCH ORGANISATION WITH SOME 3 000 STAFF ENGAGED IN RESEARCH RELATING TO LIFE SCIENCES, ENGINEERING AND ECONOMICS - COULD BE AN EXCELLENT SOURCE OF SUPPORT FOR THEIR EFFORTS IN DEVELOPING NEW PRODUCTS AND TECHNOLOGIES.

/+TH¿ MISSION