2
WEDNESDAY, JANUARY 6, 1988
EXPORT-ORIENTED
READY ΤΟ FACE AND
SIR DAVID SAID HONG KONG'S OVERWHELMINGLY INDUSTRIAL OUTPUT MEANT THAT IT HAD TO ALWAYS BE MATCH COMPETITION FROM OTHERS.
"WE NOW FACE INCREASING COMPETITION FROM WHAT MIGHT
ASIAN
COMPETITORS
THE "SECOND WAVE" OF RELATIVELY LOWER LAND AND LABOUR COSTS.
SIGNIFICANT
-
THOSE
CAN WHO
BE CALLED RELY ON
WE ARE ADVANTAGE. OF GUANGDONG PROVINCE,
"WE HAVE ONE
GEOGRAPHICAL ADJACENT TO THE DEVELOPING INDUSTRIAL AREAS SIR DAVID SAID.
11
THE SHORT TERM, AN
HE SAID THIS GAVE HONG KONG, AT LEAST IN OPPORTUNITY TO REDUCE ITS LAND AND LABOUR COSTS BY MOVING SOME LABOUR- INTENSIVE PROCESSES INTO CHINA.
HE ALSO SAID
HONG KONG
HAD INDUSTRY
MARKET
GREAT STRENGTHS:
ITS DEMANDS,
ITS PUNCTUAL
FLEXIBILITY, ITS RESPONSIVENESS TO DELIVERIES, AND, ABOVE ALL, ITS COMPETITIVENESS.
THAT OVERSEAS
DEPEND ΤΟ IS THE
MARKETS.
"HOW WELL WE ACTUALLY DO IN 1988 MUST STILL HOWEVER
OUR CONTROL: A GREAT EXTENT ON FACTORS OUTSIDE PERFORMANCE OF THE ECONOMIES
MAJOR OF OUR PARTICULARLY THE UNITED STATES, SIR DAVID ADDED.
THE GLOBAL
IN SIR DAVID SAID THE EXPECTED SLOWDOWN GROWTH MADE IT UNLIKELY THAT EXPORTS COULD CONTINUE SAME RATE AS IN THE LAST TWO OR THREE YEARS.
ECONOMIC
TO GROW AT THE
HE SAID HONG
INDUSTRIES ITS
ECONOMY, HOWEVER,
ANY STRONG AND
WOULD MEET EFFECTIVELY AS THEY HAD DONE IN THE PAST.
KONG'S
REMAINED
BASICALLY
NEW CHALLENGES
AS
SIR
DAVID PAID TRIBUTE ASSOCIATION FOR ALWAYS PLAYING AN ORGANISATION AND SAID GOVERNMENT.
TO
THE
ITS
ADVICE
IMPORTANT
HAD
ALWAYS
CHINESE MANUFACTURERS' ROLE AS
BEEN
AN INDUSTRIAL
BY VALUED
THE
ANOTHER YEAR OF LOW NUMBER OF INSOLVENCIES
IN SUCCESSION WHICH SHOWED
A
COURTS,
LAST YEAR WAS THE SECOND YEAR DOWNWARD TREND IN THE NUMBER OF NEW INSOLVENCIES REACHING THE THE REGISTRAR GENERAL, MR NOEL GLEESON, SAID TODAY (WEDNESDAY).
THERE WERE 222 NEW COMPULSORY COMPANY LIQUIDATIONS AND 298 PERSONAL BANKRUPTCIES COMPARED WITH CORRESPONDING FIGURES OF 304 391 DURING 1986.
NEW
AND
/IT COULD
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