XN000022-1989-06-15 — Page 5

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THURSDAY, JUNE 15, 1989

CONFIDENCE

IN HONG KONG HAD

BEEN BADLY

"I TOLD THEM THAT

A HOME OF SHAKEN; THAT PEOPLE WERE MORE CONCERNED THAN EVER TO HAVE

BADLY WRONG; BUT THAT LAST RESORT OUTSIDE HONG KONG IF THINGS WENT THE VAST MAJORITY DID NOT WISH TO LEAVE HONG KONG," HE SAID.

MR CHAN STRESSED THAT EVERYDAY LIFE WAS CONTINUING NORMALLY

HEALTHY REMAINED

AND THAT HONG ECONOMY HONG KONG; THAT THE REMAINED A GOOD PLACE TO TRADE WITH AND INVEST IN.

IN

KONG

TWO-WAY TRADING RELATIONSHIP THAT LAST YEAR HONG KONG NEARLY US$1,000 FOR

MR CHAN ALSO DETAILED THE CLOSE BETWEEN HONG KONG AND THE U.S. AND SAID IMPORTED US$5.3 BILLION OF GOODS FROM AMERICA EVERY PERSON IN THE TERRITORY,

-

STATES HAD A US$6 BILLION WIDE SPECTRUM OF MANUFACTURING,

FURTHERMORE, HE SAID, THE UNITED

A ACROSS INVESTMENT IN HONG KONG BANKING, INSURANCE AND OTHER SERVICES.

ASKED ABOUT THE EFFECTS OF

EVENTS IN CHINA ON THE GENERAL FINANCIAL FINANCIAL MARKETS, MR CHAN SAID VERY SOUND AND ALTHOUGH THE STOCK MARKET HAD SEEN ONE OF SINGLE-DAY DROPS, IT HAD GRADUALLY BEEN MOVING UP AGAIN.

THE BANKING SYSTEM IS ALSO SOUND DOLLAR, HE ADDED.

I

HONG

KONG'S PICTURE WAS ITS BIGGEST

AND So IS THE

HONG KONG

ANY LARGE-SCALE

HE SAID THERE WAS NO EVIDENCE OF INVESTORS, WHO WERE ADOPTING A WAIT AND SEE ATTITUDE.

OF GOODS

PULLOUT BY

INTO HONG LAST

ON ANOTHER QUESTION ABOUT DELAYS IN FLOW KONG, MR CHAN SAID ALTHOUGH THERE HAD BEEN SOME MINOR DISRUPTION WEEK, CROSS-BORDER TRAFFIC WAS GOING THROUGH AS USUAL.

MR CHAN

HIS CONTINUES SENATORS AND OTHERS BEFORE ADDRESS A

LUNCHEON MEETING

MEETINGS

TOMORROW

WITH

CONGRESSMEN,

TRAVELLING ΤΟ NEW YORK WHERE HE WILL

BY HOSTED

NATIONAL COMMITTEE

THE

U.S.-CHINA RELATIONS AND THE HONG KONG ASSOCIATION OF NEW YORK.

HE WILL ALSO HAVE A ROUND OF MEETINGS

THE TOP

FINANCIAL EXECUTIVES AND GROUPS AND IMPORTERS BASED IN NEW YORK.

ON

REPRESENTATIVES

WITH KEY BUSINESS AND MAJOR RETAIL OF

ANGELES,

SACRAMENTO AND SAN

NEXT WEEK HE WILL TRAVEL TO LOS FRANCISCO, BEFORE RETURNING TO HONG KONG.

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