XN000022-1989-05-26 — Page 7

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FRIDAY, MAY 26, 1989

ECONOMICALLY

BE

AND

HAS

SU I

ΤΟ SENSIBLE "JUST AS GUANGDONG NOW FINDS IT SUPPLIED FROM HONG KONG WITH SUCH PHYSICAL SERVICES AS TRANSPORT, PROFESSIONAL, FINANCIAL AND TRADING SERVICES BECAUSE THE PROVINCE A LONG WAY TO CATCH UP IN TERMS OF INFRASTRUCTURAL DEVELOPMENT.

BASE FOR EXPECT GUANGDONG WILL INCREASINGLY RECOGNISE HONG KONG AS A THE SUPPLY OF PARTS AND COMPONENTS, OF DESIGN AND PRODUCTION EXPERTISE. AND OF INDUSTRIAL TECHNOLOGY," MR YEUNG SAID.

MATURED,

HE PREDICTED THAT WHEN HONG KONG'S ECONOMY

ITS

MAINTAIN ROUGHLY THE MANUFACTURING WOULD

CURRENT SHARE OF GROSS

OVER TIME DOMESTIC PRODUCT BUT SHIFT

TOWARDS MUCH HIGHER QUALITY FINISHED PRODUCTS AND TOWARDS INCREASED LINKAGE INDUSTRY PRODUCTION.

HE ALSO SAID HE COULD FORESEE THAT HONG KONG WOULD EVOLVE A MAJOR FINANCIAL CENTRE FOR ACTIVITIES ASSOCIATED WITH CHINA.

INTO

PROPER

ROLE

FOR

"SO LONG AS LOCAL BANKERS ACCEPT THAT THEIR

RATHER THAN GLOBAL,

OPPORTUNITIES PROFITABLE BUSINESS WILL CONTINUE TO EXIST, MR YEUNG SAID.

IS REGIONAL

CONSIDERABLE

"

IT HAD BEEN SUGGESTED BY MANY BANKING SOURCES THAT CHINA MINIMUM TARGETS NEED AS MUCH AS US$200 BILLION TO ACHIEVE ITS ITS MODERNISATION PROGRAMMES.

WOULD UNDER

CHINA UP OF HE WAS CONFIDENT THAT THE OPENING MR YEUNG SAID

ABLE ΤΟ EXPLOIT, WOULD CREATE OPPORTUNITIES THAT HONG KONG WOULD BE

LOAN

AND SYNDICATION

FINANCING IN TERMS OF INVESTMENT CAPITAL,

OF IMPLEMENTATION OF ITS OTHER FORMS OF DEBT INCURRED BY CHINA FOR THE MODERNISATION PROGRAMMES.

HONG

ALL OF WHICH HE BELIEVED THESE LIKELY DEVELOPMENTS, IN KONG SEEMED SET TO EXERCISE A DEGREE OF LEADERSHIP, CLEARLY MEANT THAT COULD MEET THE HONG KONG WOULD HAVE TO TAKE STEPS TO ENSURE THAT IT DEMANDS THAT WOULD BE PLACED UPON ITS ECONOMY.

WOULD IN TERMS OF HARD INFRASTRUCTURE, MR YEUNG FELT HONG KONG

HANDLING NEED TO EXPAND ITS PORT, CONTAINER

AND AIRPORT FACILITIES

AND TO IMPROVE ITS ROAD

INCLUDING THE BORDER LINKS WITH

CHINA.

NETWORK,

IS CREATED MANUFACTURING AS A NEW DOMINATED BY

DESIGN

INNOVATIVE

LAND "WE WILL NEED TO ENSURE THAT MORE INDUSTRIAL TO CATER FOR WHAT IS BEGINNING TO EMERGE IN GENERATION OF PRODUCTION, TYPICALLY AND MECHANISED PRODUCTION AS OPPOSED TO LABOUR INTENSIVE ASSEMBLY.

"MORE IMPORTANTLY,

THE SHIFT TOWARDS HIGHER SKILLS AND SUPPORT, WHEN TAKEN TOGETHER TECHNOLOGY IN MANFACTURING

WITH THE INDUSTRIES, WILL CREATE STRONGER CONTINUING SHIFT INTO THE SERVICE

TRAINING,' DEMANDS FOR INCREASED SPENDING IN EDUCATION AND VOCATIONAL HE SAID.

ΤΟ FIND THE

MR YEUNG ADDED THAT THE CONTINUING CHALLENGE WAS SERVICES TO FUND THIS EXPANSION, AND TO ENSURE THAT THE USES TO THESE RESOURCES WERE PUT REFLECTED THE CHANGES THAT WERE TAKING IN THE ECONOMY.

WHICH

PLACE

17