XN000022-1985-10-18 — Page 4

FRIDAY, OCTOBER 18, 1985

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U.S. BUSINESSMEN SHOW FAITH IN HK

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AMERICAN BUSINESSMEN HAVE ALWAYS MAINTAINED THE IR CONFIDENCE IN THE FUTURE OF HONG KONG AS AN ATTRACTIVE AND PROFITABLE PLACE IN WHICH TO DO BUSINESS, THE DIRECTOR OF INDUSTRY, MR JOHN YAXLEY SAID TODAY (FRIDAY).

HE WAS SPEAKING AT THE OFFICIAL OPENING OF A NEW AMERICAN MANUFACTURING PLANT IN HONG KONG - ROCHESTER BUTTON.

+THIS US$2 MILLION INVESTMENT IS A FURTHER EXAMPLE OF THE CONTINUING OVERSEAS INTEREST IN HONG KONG AS A MANUFACTURING BASE AND A SIGN THAT ROCHESTER IS YET ANOTHER COMPANY THAT APPRECIATES THE ADVANTAGES AND ATTRACTIONS OF OPERATING HERE,+ MR YAXLEY SAID.

HE SAID THE AMERICAN BUSINESS COMMUNITY HAD ALWAYS BEEN IMPORTANT TO HONG KONG, AND TODAY THE UNITED STATES WAS BY FAR HONG KONG'S LARGEST OVERSEAS INVESTOR AND ITS PRINCIPAL EXPORT MARKET.

IN 1984, 54 PER CENT OF TOTAL OVERSEAS INVESTMENT IN MANUFACTURING CAME FROM THE U.S. AND IN THE SAME YEAR THAT COUNTRY TOOK 44 PER CENT OF HONG KONG'S TOTAL EXPORTS.

MORE THAN 800 COMPANIES WITH UNITED STATES CONNECTIONS ARE REGISTERED IN HONG KONG. THIS NUMBER INCLUDES 75 WHOLLY OWNED MANUFACTURING ESTABLISHMENTS AND ANOTHER 51 JOINT VENTURE OPERATIONS.

AMERICAN FIRMS ARE PARTICULARLY PROMINENT IN THE ELECTRONICS, TOYS AND SERVICE INDUSTRIES.

U.S. MANUFACTURING COMPANIES IN HONG KONG EMPLOY NEARLY 40 000 WORKERS OR ONE IN FIVE OF OUR TOTAL MANUFACTURING WORKFORCE.

'COMPUTERS BRING NEW DIMENSION TO TRADING'

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THE BARRIERS OF TIME AND SPACE BETWEEN BUYERS AND SELLERS IN BUSINESS TRANSACTIONS HAVE NOW BEEN ELIMINATED BY ELECTRONIC TRANSMISSION OF DATA FROM ONE COUNTRY TO ANOTHER, THE CHIEF SECRETARY, SIR DAVID AKERS-JONES, SAID THIS (FRIDAY) AFTERNOON.

SIR DAVID WAS SPEAKING AFTER THE PREMIER VIEWING OF THE TRADE FACILITATION COUNCIL FILM, THE TRADE DATA REVOLUTION+, WHICH SHOWED WORLDWIDE CHANGES IN DATA TRANSMISSION AND RAPID PROGRESS IN ELECTRONIC TRADE DATA EXCHANGE.

/TRADITIONALLY, SIR