XN000022-1984-04-10 — Page 2

TUESDAY, APRIL 10, 1984

GOVERNOR LEAVES FOR PEKING

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THE GOVERNOR, SIR EDWARD YOUDE, LEFT FOR PEKING THIS (TUESDAY) AFTERNOON TO CONTINUE TO TAKE PART IN THE SINO-BRITISH

TALKS ON THE FUTURE OF HONG KONG.

HE WAS SEEN OFF AT THE AIRPORT BY THE CHIEF SECRETARY,

SIR PHILIP HADDON-CAVE, THE SENIOR UNOFFICIAL MEMBER OF THE EXECUTIVE COUNCIL, SIR SZE-YUEN CHUNG, THE SENIOR UNOFFICIAL MEMBER OF

THE LEGISLATIVE COUNCIL, MR ROGER LOBO, AND THE VICE-CHIEF EDITOR OF THE XINHUA NEWS AGENCY (HONG KONG BRANCH), MR TAN GAN.

ACCOMPANYING THE GOVERNOR WERE THE POLITICAL ADVISER,

MR ROBIN MCLAREN, AND THE GOVERNMENT CHIEF INTERPRETER, MR Y.P. CHENG.

BRITONS URGED TO INVEST MORE HERE

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THE DIRECTOR OF INDUSTRY, MR JOHN YAXLEY HAS INVITED BRITISH INDUSTRIALISTS TO TAKE A CLOSE LOOK AT HONG KONG TO SEE WHAT IT HAS TO OFFER AS AN OFF-SHORE MANUFACTURING BASE.

ADDRESSING A SEMINAR IN LONDON YESTERDAY (MONDAY) ORGANISED BY THE HONGKONG AND SHANGHAI BANKING CORPORATION, MR YAXLEY, WHO IS LEADING AN INDUSTRIALIST MISSION TO BRITAIN, TOLD BRITISH BUSINESSMEN THAT IT IS VERY MUCH +BUSINESS AS USUAL+ IN HONG KONG.

+HONG KONG MANUFACTURERS ARE CONTINUING TO INVEST, PARTLY TO MEET THE CURRENT UPSURGE IN ORDERS, THOUGH WITH PERHAPS A LITTLE MORE CAUTION THAN PREVIOUSLY. BUT THE INVESTMENT CONTINUES. WE IN THE INDUSTRY DEPARTMENT KNOW OF SOME 50 LOCAL AND OVERSEAS MANUFACTURERS WHO ARE CURRENTLY EXPANDING THEIR OPERATIONS, SOME OF THEM AT A COST RUNNING INTO TENS OF MILLIONS OF HONG KONG DOLLARS.+

HE POINTED OUT THAT HONG KONG IS NOW IN THE MIDDLE OF AN EXPORT, AND A MANUFACTURING BOOM.

+DURING 1983, EXPORTS ROSE BY 26 PER CENT IN VALUE TERMS AND 14 PER CENT IN REAL TERMS COMPARED WITH 1982. IN THE FIRST TWO MONTHS OF THIS YEAR THEY WERE HIGHER BY 46.7 PER CENT IN VALUE TERMS THAN IN THE SAME PERIOD LAST YEAR.

+WE HAVE THEREFORE BEGUN TO SEE AN INCREASE IN THE UPTAKE OF INDUSTRIAL SPACE AND SOME FIRMING OF PRICES.

+NOW, THEREFORE, IS THE TIME TO GET IN, MR YAXLEY SAID.

/ON THE