XN000022-1984-05-30 — Page 26

WEDNESDAY, MAY 30, 1984

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HONG KONG KEEPS UP GOOD BUSINESS

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BUSINESS IN HONG KONG CONTINUES TO DO WELL DESPITE ANXIETY ABOUT THE TERRITORY'S POLITICAL FUTURE, THE SECRETARY FOR TRADE AND INDUSTRY, MR E.P. HO, SAID IN VIENNA ON TUESDAY (MAY 29).

MR HO, WHO IS ON A THREE-DAY VISIT TO VIENNA AT THE INVITATION OF THE AUSTRIAN GOVERNMENT, WAS ADDRESSING AN AUDIENCE OF KEY GOVERNMENT OFFICIALS, DIPLOMATS AND REPRESENTATIVES OF THE AUSTRIAN CHAMBERS, BANKS AND THE AUSTRIAN BUSINESS COMMUNITY.

+HONG KONG'S FINANCIAL SECTOR HAS RECENTLY ATTAINED AN IMPORTANT INTERNATIONAL ROLE IN ADDITION TO CATERING FOR THE DEMAND OF OTHER SECTORS OF THE DOMESTIC ECONOMY, AND WE BELIEVE THAT THE GOVERNMENT'S NON-INTERVENTIONIST POLICY HAS BEEN AN IMPORTANT FACTOR IN THIS DEVELOPMENT.

+ HONG KONG ALSO ENJOYS A FAVOURABLE GEOGRAPHIC POSITION AS A BRIDGE BETWEEN JAPAN AND EUROPE, IN THESE DAYS OF ROUND-THE-CLOCK FINANCIAL MARKETS.

+AND WE FURTHER BENEFIT FROM BEING LOCATED IN THE SOUTH-EAST ASIAN REGION- WHICH HAS BEEN PERHAPS THE MOST BUOYANT AREA OF THE WORLD ECONOMY OVER THE PAST DECADE OR SO, AND SHOWS EVERY SIGN OF CONTINUING TO HAVE A RATE OF GROWTH GREATER THAN MOST OTHER PARTS OF THE WORLD, + MR HO SAID.

ACCORDING TO INTERNATIONAL MONETARY FUND STATISTICS, THE REGION'S SHARE OF TOTAL WORLD TRADE GREW IN THE FIVE-YEAR PERIOD 1978-82 FROM 14 PER CENT TO 17 PER CENT. THIS REPRESENTS AN INCREASE OF 68 PER CENT IN VALUE TERMS, CONSIDERABLY HIGHER THAN THE INCREASE OF 43 PER CENT FOR THE WORLD AS A WHOLE.

MR HO POINTED OUT THAT GEOGRAPHICAL LOCATION WAS NOT SUFFICIENT IN ITSELF TO ENSURE HONG KONG'S GROWTH AS AN

INTERNATIONAL FINANCIAL CENTRE.

THE TERRITORY'S EXCELLENT COMMUNICATIONS WITH THE REST OF THE WORLD, THE PROVISION OF WELL EDUCATED AND WELL QUALIFIED LOCAL STAFF, AND A PLEASANT STABLE ENVIRONMENT FOR EXPATRIATE STAFF, WERE FACTORS ATTRACTING A WIDE RANGE OF INTERNATIONAL FIRMS TO HONG KONG, HE SAID.

ON HONG KONG'S TRADING POSITION, MR HO POINTED OUT THAT THE LATEST UNITED NATIONS FIGURES SHOW THAT HONG KONG RANKS 20TH IN THE WORLD AS AN EXPORTER, AND 18TH IN TOTAL TRADE.

IN VALUE TERMS IN 1982, HONG KONG WAS THE WORLD'S LARGEST EXPORTER OF CLOTHING, TOYS AND DOLLS, AND PLASTIC FLOWERS; AND THE SECOND LARGEST EXPORTER OF WATCHES (AFTER SWITZERLAND), RAD 10 (AFTER JAPAN), AND DOMESTIC FANS (AFTER TAIWAN).

/+FOLLOWING THE