WEDNESDAY, JULY 11, 1984
FREE ENTERPRISE SYSTEM MUST CONTINUE BL YE
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FOR HONG KONG'S PROSPERITY TO ENDURE, ITS FREE ENTERPRISE ECONOMIC SYSTEM MUST BE ALLOWED TO CONTINUE, THE ACTING FINANCIAL SECRETARY, THE HON DOUGLAS BLYE, SAID IN THE LEGISLATIVE COUNCIL TODAY.
+HONG KONG'S SIZE AND MEAGRE ENDOWMENT MEAN THAT CONTINUED ECONOMIC SUCCESS WILL DEPEND ON STEADILY EXPANDING TRADE WITH OTHER ECONOMIES,
+THIS REQUIRES THAT THE GOODS AND SERVICES PRODUCED HERE REMA IN INTERNATIONALLY COMPETITIVE, THAT BUSINESSMEN REMAIN EAGER AND ABLE TO SEIZE ANY TRADING OPPORTUNITIES THAT PRESENT THEMSELVES AND THAT THE LABOUR FORCE REMAINS HIGHLY MOTIVATED AND HARD-WORK ING, + MR BYLE SAID IN THE ADJOURNMENT DEBATE ON ECONOMIC SYSTEM AND THE FUTURE OF HONG KONG'.
FUNDAMENTAL TO THE HONG KONG SYSTEM IS THE PEOPLE'S RIGHT TO OWN PROPERTY AND TO USE THE IR SKILLS, ABILITIES AND CAPITAL AS THEY CHOOSE.
+ IT IS THESE RIGHTS AND THE INTERNATIONAL CHARACTER OF HONG KONG AS A CENTRE OF TRADE AND BUSINESS THAT GENERATE THE ENTERPRISE AND MOTIVATION OF OUR COMMUNITY, HE STRESSED.
HONG KONG'S ECONOMY, MR BLYE SAID, WAS FUNDAMENTALLY GOOD AT PRESENT, AND WOULD BE ABLE TO DEVELOP AND COPE WITH DEMANDS PLACED UPON IT IN THE FUTURE.
HE WHILE SHARING THE CONCERN ABOUT INDUSTRIAL INVESTMENT, POINTED OUT THAT RETAINED IMPORTS OF CAPITAL GOODS IN THE FIRST FOUR MONTHS OF THIS YEAR INCREASED BY 30 PER CENT IN REAL TERMS OVER LAST YEAR'S CORRESPONDING PERIOD.
ON INTERNATIONAL TRADING PRACTICES AND RELATIONSHIPS, HE ASSURED THE COUNCIL THAT THE GOVERNMENT WOULD DO EVERYTHING NECESSARY TO ENSURE THAT HONG KONG WOULD CONTINUE TO BE ABLE TO IMPORT THE TECHNOLOGY APPROPRIATE TO ITS NEEDS.
+ IN THIS CONNECTION, THE REPORTED LIBERALISATION OF U.S. EXPORTS OF HIGH TECHNOLOGY PRODUCTS TO CHINA IS AN ENCOURAGING SIGN, HE SAID.
ON THE NEED TO CLARIFY THE TERRITORY'S STATUS AS AN INTERNATIONAL TRADING ENTITY, MR BLYE SAID, + CAN PERHAPS BEST DEMONSTRATE THE BRITISH GOVERNMENT'S RECOGNITION THAT HONG KONG'S STABILITY AND PROSPERITY BEYOND 1997 REQUIRES OUR CONTINUING PARTICIPATION AND STATUS IN INTERNATIONAL ORGANISATIONS BEING MAINTAINED.+
/WHILE STRESSING
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