XN000022-1988-10-19 — Page 3

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WEDNESDAY, OCTOBER 19, 1988

HONG KONG AND WORTH US$26 BILLION

THE GOVERNOR SAID THAT BILATERAL TRADE BETWEEN CHINA, WHICH HAD GROWN 19 TIMES SINCE 1982, WAS IN 1987.

IN

HE SAID, "WE ARE EACH OTHER'S LARGEST TRADING PARTNERS,

"CHINA IS NOW RECKONED TO BE THE LARGEST INVESTOR IN HONG

TERMS. FOR OVERALL

ITS PART, HONG BILLION TO $6 BILLION IN CHINA.

HAS KONG

INVESTED

KONG

US$5

"THIS IS 65 PER CENT OF THE TOTAL

——

*THE WORLD

——

AMERICA, JAPAN, EUROPE

——

OF FAR MORE THAN THE REST

"SIR DAVID SAID. PUT TOGETHER,

BEEN AN INFLUX

HE ALSO NOTED THAT IN RECENT YEARS, THERE HAD OF MAINLAND CHINESE COMPANIES INTO HONG KONG. THERE WERE NOW SOME 600.

"THEIR EXECUTIVES ARE GAINING VALUABLE CONDUCT BUSINESS IN THE CAPITALIST WORLD.

CLOSE ECONOMIC PARTNER "WE ARE A CAPITAL, A TRAINING GROUND, AND A WINDOW THE GOVERNOR SAID.

EXPERIENCE IN HOW TO

SOURCE

OF

申申

FOR CHINA; A ON THE CAPITALIST WORLD,

"THIS ALL SUGGESTS THAT WHEN THE CHINESE KONG TO CONTINUE PROSPERING, THEY MEAN IT.

"BUT HONG KONG IS NOT ONLY GROWING THE OPPORTUNITY THAT HONG KONG PRESENTS DAVID SAID.

SAY THEY WANT HONG

IS

IN IMPORTANCE

то AVAILABLE

FOR CHINA.

ALL, SIR

AN

ON THE FUTURE OF HK-EEC ECONOMIC AND TRADE RELATIONS, SIR DAVID

MOVE TOWARDS THE CREATION OF SAID HONG KONG WELCOMED EUROPE'S INTERNAL MARKET.

SEE A "WE ARE ANXIOUS TO

REDUCTION IN THE TRADE BARRIERS WILL GIVE TO OUR WITHIN THE COMMUNITY, BOTH FOR THE HELP THAT THIS

ECONOMIC GROWTH THAT IT WILL TRADERS BUT ALSO FOR THE

CREATE IN

EUROPE.

AN EVEN

MORE

"WE ARE CONFIDENTLY LOOKING FORWARD TO ECONOMICALLY POWERFUL EUROPE WITH WHOM WE CAN COMPETE ON FAIR TERMS."

RECENTLY COMMISSIONED

HONG KONG TRADERS HAD

THE CENTRE FOR VERY EUROPEAN POLICY STUDIES TO RUN A CONFERENCE IN HONG KONG ON THIS ISSUE, THE GOVERNOR NOTED.

THE GOVERNOR POINTED OUT THAT

MAIN ABOUT THE WAY IN WHICH THE CONCEPT OF "RECIPROCITY" MIGHT OR RATHER ABUSED.

HONG KONG'S

CONCERN

WAS

BE USED

THIS IS