XN000022-1988-12-19 — Page 2

MONDAY, DECEMBER 19, 1988

SGD OUTLINES REASONS FOR OPTIMISM

THE SECRETARY, GENERAL DUTIES, MR BARRIE WIGGHAM. SAID TODAY (MONDAY) HE IS CONFIDENT THAT THE GOOD WORK ALREADY BEGUN TO IMPLEMENT THE SINO-BRITISH JOINT DECLARATION WILL BE CONTINUED THROUGHOUT THE TRANSITION PERIOD AND BEYOND.

SPEAKING AT THE U.S.

HONG KONG CONFERENCE, MR WIGGHAM SAID HIS OPTIMISM WAS REASONS.

TECHNOLOGY BASED ON

BUSINESS

THREE MAIN

"FIRST, THERE IS NO CONCEIVABLE BENEFIT то ANYONE, ALL THE CHINESE GOVERNMENT, FOR THE AGREEMENT NOT TO WORK,

LEAST OF

HE SAID.

"THE CHINESE GOVERNMENT IS COMMITTED, AT THE HIGHEST LEVEL, ΤΟ

THE IMAGINATIVE POLICY OF 'ONE COUNTRY, TWO SYSTEMS'.

"IT WAS FOR THIS REASONS THAT THE CHINESE ENGAGED IN TWO YEARS OF CONCENTRATED HARD WORK, TOGETHER WITH THE BRITISH GOVERNMENT, TO PRODUCE THE JOINT DECLARATION,"

MR WIGGHAM SAID THE CHINESE GOVERNMENT KNEW THAT HONG KONG COULD CONTRIBUTE ENORMOUSLY TO THE ACHIEVEMENT OF ITS OVER-RIDING ECONOMIC GOALS AND THAT HONG KONG'S ABILITY TO MAKE THIS CONTRIBUTION DEPENDED ON THE MAINTENANCE OF ITS SYSTEMS, AND ON THE CONFIDENCE OF HONG KONG PEOPLE AND OVERSEAS INVESTORS.

"THERE IS THEREFORE NO REASON TO BELIEVE THAT CHINA WOULD RISK THE IRREPARABLE DAMAGE, BOTH POLITICAL AND ECONOMIC, THAT WOULD INEVITABLY RESULT FROM RENEGING ON AN INTERNATIONALLY RECOGNISED AGREEMENT, HE SAID.

THE SECOND REASON FOR OPTIMISM WAS THAT THE EVIDENCE OF THE PAST THREE YEARS SHOWED THAT THE JOINT DECLARAT CON WAS WORKING.

"WHY SHOULD CHINA PUT SO MUCH EFFORT INTO THIS, IF ONLY TO SEE IT DISMANTLED IN EIGHT YEARS' TIME? +3 11 HE COMMENTED.

"MY LAST, IF NOT THE MOST IMPORTANT, REASON FOR OPTIMISM IS MY CONFIDENCE IN THE PEOPLE OF HONG KONG,' MR WIGGHAM CONTINUED.

HE SAID THAT HONG KONG WAS BLESSED WITH INTELLIGENT ANIJ MULTI-TALENTED PEOPLE WHO HAD TRANSFORMED THE TERRITORY INTO ONE OF THE WORLD'S BUSIEST AND MOST SUCCESSFUL FINANCIAL. AND COMMERCIAL CENTRES.

THERE WAS NO REASON WHY THERE SHOULD BE A LACK OF IN THEIR ABILITY TO SPUR A PLACE THEY CALLED HOME TO THE YEARS TO COME.

NEW

CONFIDENCE HEIGHT: IN

/REFERRING TO