XN000022-1988-09-27 — Page 5

TUESDAY, SEPTEMBER 27, 1988

HE SAID.

"THESE ARRANGEMENTS WILL LAST UNTIL AT LEAST THE YEAR 2047,

F

MR MCGLYNN NAMED THREE MAJOR FACTORS WHICH WILL ENHANCE HONG KONG'S ROLE AS AN INTERNATIONAL BUSINESS CENTRE.

"FIRSTLY, ITS DOMESTIC MANUFACTURING AND SERVICE INDUSTRIES WILL UNDOUBTEDLY CONTINUE THEIR SWIFT MARCH UP-MARKET.

"SECONDLY, AS A REGIONAL FINANCIAL, COMMUNICATIONS AND MANAGEMENT CENTRE, HONG KONG WILL BENEFIT ENORMOUSLY FROM THE RAPID ECONOMIC GROWTH IN THE ASIA-PACIFIC REGION AS A WHOLE.

"AND FINALLY, AND PERHAPS MOST SIGNIFICANTLY OF ALL, HONG KONG WILL ALSO BENEFIT ENORMOUSLY FROM CHINA'S DEVELOPMENT AS A MAJOR ECONOMIC POWER OVER THE COMING YEARS AND DECADES," MR MCGLYNN SAID.

TRADING

CHINA AND HONG KONG WERE ALREADY EACH OTHERS LARGEST PARTNERS. HONG KONG'S CURRENT AND FUTURE IMPORTANCE TO CHINA, MR MCGLYNN SAID, SHOWED THAT THE SINO-BRITISH DECLARATION WAS ALREADY WORKING WELL.

"IT IS WORKING IN A CONSTITUTIONAL SENSE IN THAT ITS PROVISIONS ARE BEING PROGRESSIVELY IMPLEMENTED IN A WAY WHICH WILL ENSURE A SMOOTH TRANSITION IN 1997.

"AND THE JOINT DECLARATION AND THE CONFIDENCE WHICH IT GENERATED IN HONG KONG'S FUTURE HAS PROVIDED THE BASIS CONSISTENTLY HIGH RATES OF GROWTH AND LONG-TERM INVESTMENT IN KONG'S ECONOMY," HE ADDED.

HAS

FOR

HONG

HK'S INTERNATIONAL IMPORTANCE WILL GROW SAYS LONDON COMMISSIONER

* * *

HONG KONG'S POTENTIAL AS A MARKET IN ITSELF AND AS A REGIONAL

PACIFIC RIM CENTRE FOR TRADE WITH CHINA AND THE

WAS SPELT OUT ΤΟ IN FINLAND AND SWEDEN BY LEADING BUSINESSMEN

THE HONG KONG COMMISSIONER IN LONDON, MR SELWYN ALLEYNE.

HONG KONG

SOCIETY (TUESDAY), AND URGED

MR ALLEYNE, WHO ADDRESSED THE FINNISH YESTERDAY (MONDAY) AND THE SWEDISH HONG KONG SOCIETY TODAY DREW ATTENTION TO THE OPPORTUNITIES THE TERRITORY AFFORDED BUSINESSMEN TO TAKE ADVANTAGE OF THEM.

/THE THEME