XN000022-1987-10-29 — Page 4

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THURSDAY, OCTOBER 29, 1987

TRADE FIGURES SHOW ECONOMY HAS UNDERLYING STRENGTH

THE 37 PER CENT OROWTH IN REAL TERMS IN HONG KONG'S EXPORTS FOR THE FIRST SEVEN MONTHS OF 1987 OVER THE SAME PERIOD LAST YEAR ILLUSTRATES THAT, DESPITE RECENT UPHEAVALS IN THE FINANCIAL MARKETS, THERE IS CONSIDERABLE UNDERLYING STRENGTH IN OUR ECONOMY, THE SECRETARY FOR TRADE AND INDUSTRY, MR HAMISH MACLEOD, SAID TODAY

(THURSDAY),

SPEAKING AT THE OPENING CEREMONY OF THE 1987 HONG KONG INDUSTRY TRADE FAIR, MR MACLEOD SAID IT WAS EXPECTED THAT HONG KONG'S ECONOMY WOULD ACHIEVE A REAL GROWTH RATE OF 12 PER CENT FOR THE YEAR.

HE SAID IT WAS ENCOURAGING THAT MANUFACTURERS UAD FULLY REALISED THE IMPORTANCE OF INVESTING MORE TO STRENGTHEN THEIR

COMPETITIVENESS.

"IN THE FIRST HALF OF 1987, RETAINED IMPORTS OF CAPITAL GOODS GREW BY 25 PER CENT AND IMPORTS OF MACHINERY FOR USE IN THE MANUFACTURING SECTOR BY 20 PER CENT," HE SAID.

ON THE GOVERNMENT'S PART, MR MACLEOD SAID IT WAS ALSO PLAYING AN ACTIVE ROLE IN COMPLEMENTING THE EFFORT OF THE PRIVATE SECTOR IN IMPROVING THE COMPETITIVENESS OF INDUSTRY.

"THE WIDE RANGE OF INDUSTRIAL SUPPORT SERVICES BEING PROVIDED BY THE GOVERNMENT, MAINLY THROUGH THE INDUSTRY DEPARTMENT AND THE HONG KONG PRODUCTIVITY COUNCIL, HAVE ALREADY BENEFITTED MANY MANUFACTURERS, HE SAID.

HE NOTED THAT THE INDUSTRY DEPARTMENT HAD RECENTLY LAUNCHED A SIX-MONTH INDUSTRIAL EXTENSION SERVICE PILOT FACTORY VISITS BY ITS STAFF, TO ENCOURAGE BETTER USE OF THESE SUPPORT SERVICES.

SCHEME, WHICH ENTAILED MANUFACTURERS TO MAKE

"IT IS HOPED THAT NOT ONLY WILL THE MANUFACTURERS LEARN MORE ABOUT HOW THESE SERVICES CAN BENEFIT THEIR OPERATIONS, BUT ALSO THEY WILL PROVIDE US WITH FEEDBACK ON HOW WE CAN IMPROVE OUR SUPPORT TO THE INDUSTRY.

**A REVIEW WILL BE CARRIED OUT AT THE END OF WITH A VIEW TO ESTABLISHING THE NEED AND THE SCOPE SCHEME, HE SAID.

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