XN000022-1989-04-27 — Page 9

7

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THURSDAY, APRIL 27, 1989

IF THEY CONCLUDED THAT THERE WERE LIMITS TO WHAT COULD BE DONE, THEN THE SUPPLY SIDE STRATEGY WOULD NEED RE-ASSESSMENT, HE SAID.

то

TO

ANALYSIS,

"THE LONG TERM DIRECTION OF THE ECONOMY, AND HOW IT RELATES

ALSO BE SUBJECTED MUST DEMAND, LABOUR SUPPLY AND MR BARROW SAID.

TRANSITION

H

PERIOD, A

WAS MOVING THROUGH THE AS HONG KONG

LABOUR AND OTHER ISSUES MIGHT BE FLEXIBLE SHORT TERM APPROACH ON NEEDED TO ENSURE THE ECONOMY COULD CONTINUE TO GROW, HE ADDED.

TURNING TO THE ECONOMY, MR BARROW SAID 1988 MILESTONE YEAR WITH DOMESTIC EXPORTS ECLIPSED BY FIRST TIME.

WAS AN IMPORTANT RE-EXPORTS FOR THE

WHOLE "IT IS A DEVELOPMENT WITH ENORMOUS RAMIFICATIONS FOR THE

MANUFACTURING SECTOR, AS PATTERN OF OUR TRADE AND THE FUTURE OF OUR WELL AS FOR OUR INFRASTRUCTURE,

*

HE SAID.

THE DEVELOPMENT OF THE MR BARROW SAID HE WAS CONFIDENT THAT

IMMUNE

OVERALL FROM THE PEARL RIVER AUSTERITY AND RECTIFICATION PROGRAMME CURRENTLY PREVAILING IN CHINA.

DELTA

WOULD

REMAIN

LARGELY

AND DOMESTIC

RE-EXPORTS TO CHINA WERE UP 56 PER CENT BY 35 PER CENT IN THE FIRST TWO MONTHS OF THIS YEAR.

EXPORTS

STATISTIC IN REMARKABLE

OUR MR BARROW POINTED OUT THAT ONE

MAINLAND TRADE WITH CHINA WAS THE RAPID INCREASE IN RE-EXPORTS TO THE

US$1 BILLION OF CHINA-ORIGIN PRODUCTS WHICH ROSE 44 PER CENT TO OVER LAST YEAR.

KONG'S "HONG

ROLE IN

DOMESTIC THIS IMPORTANCE TO THE MAINLAND," HE SAID.

HIGHLIGHTS TRADE

OUR

IN ENSURING A GENUINELY

MR BARROW EMPHASISED THAT ONE OF THE KEY ELEMENTS THE MAINTENANCE OF WAS HONG KONG'S CONTINUED SUCCESS INTERNATIONAL AND OPEN OUTLOOK ON EVERY FRONT,

"IT IS ONLY BY ATTRACTING AND RETAINING INTERNATIONAL

THAT HONG KONG WILL BE USEFUL TO CHINA.

BUSINESS

CITY BALANCED BY THE

"SEPARATENESS AS A TRULY INTERNATIONAL ECONOMIC INTERDEPENDENCE WITH CHINA SHOULD BE OUR AIM," HE SAID.

"BEING INTERNATIONAL MEANS PROVIDING THE CONDITIONS MEET THE EXPECTATIONS OF MULTINATIONAL CORPORATIONS.

THAT

WILL

SERVICE SECTORS ARE I RECOMMEND THAT THE LAWYERS SHOULD BE SETTLED

"IT MEANS ENSURING THAT OUR PROFESSIONAL

THIS CONNECTION AS OPEN AS POSSIBLE, AND IN ISSUE OF FOREIGN LAWYERS EMPLOYING LOCAL QUICKLY," MR BARROW SAID.

ON THE QUESTION OF PRIVATISATION IN

OPTION SHOULD

THE FUTURE BE PURSUED

THE ECONOMY, HE SAID THIS THERE SHOULD BE BENEFITS FOR HONG KONG AS A WHOLE.

DIRECTION VIGOROUSLY

OF

AS

/"IT WILL *****