XN000022-1989-06-22 — Page 8

THURSDAY, JUNE 22, 1989

IMPORTANT TO STRENGTHEN HK'S LONG-TERM ECONOMIC FUNDAMENTALS

THE EVENTS IN CHINA HAVE UNDERLINED HOW IMPORTANT IT 15 FOR HONG KONG то MAINTAIN AND STRENGTHEN ITS LONG-TERM ECONOMIC FUNDAMENTALS, THE DIRECTOR OF INDUSTRY, MR ANDREW K.P. LEUNG, SAID THIS (THURSDAY) EVENING.

ANNUAL DINNER OF THE AND TECHNOLOGY,

THE SPEAKING AT A PANEL DISCUSSION AT HONG KONG ASSOCIATION FOR THE ADVANCEMENT OF SCIENCE

HE SAID: "IN THIS REGARD, CONTINUED DEVELOPMENT OF SCIENCE AND

ECONOMIC

KNOWLEDGE ROLE REGIONALLY

TECHNOLOGY IN HONG KONG IS LIKELY TO SUSTAIN A BASE OF SKILL WHICH WILL REINFORCE OUR UNIQUE INTERNATIONALLY.

"HOWEVER, IN AN AGE OF RAPID TECHNOLOGICAL

AND

AND

CHANGE, THIS BASE TAKEN OF KNOWLEDGE AND SKILL MUST NOT BE

FOR GRANTED AND MUST BE CONTINUALLY UPGRADED IF HONG KONG IS TO MAINTAIN ITS DISTINCT ROLE.

"I

MR LEUNG ADMITTED THAT SCIENCE AND TECHNOLOGY WAS A VERY BROAD SUBJECT AND OUR RESOURCES WERE LIMITED.

"WE SHOULD AVOID WHITE ELEPHANTS OR IVORY TOWERS. NOR SHOULD WE BLINDLY FOLLOW THE MODELS OF OTHER COUNTRIES.

"IN SCIENCE," HE SAID, "WE SHOULD DEVELOPING NICHES OF REGIONAL OR THAT ARE LIKELY TO BENEFIT THE ECONOMY.

ONLY

AIM REALISTICALLY INTERNATIONAL EXCELLENCE IN AREAS

AT

"LIKEWISE, DEFINED AS THE APPLICATION OF SCIENCE TO PRACTICAL OR INDUSTRIAL SITUATIONS, TECHNOLOGY MUST BE MARKET-LED.

ON THRIVE "AND MANY ECONOMIES, INCLUDING HONG KONG,

IMPORTED

THUS MORE OR ADOPTED TECHNOLOGIES. IT WOULD BE

MEANINGFUL TO TALK A ABOUT IMPROVED TECHNOLOGIES RATHER THAN 'HIGH TECHNOLOGY', WHICH IS SOMEWHAT NEBULOUS TERM, MR LEUNG BAID.

SIMILARLY, HE ADDED, HONG KONG'S

SAFELY ANCHORED IF A COMPETITIVE

UNIQUE ROLE WOULD BE MORE

EXISTED AS SECTOR

A

MANUFACTURING

VITAL COMPONENT OF A DIVERSIFIED ECONOMY.

HONG

THE

MANUFACTURING ALREADY DIRECTLY CONTRIBUTED 22 PER CENT TO KONG'S GROSS DOMESTIC PRODUCT (GDP) AND IT FURTHER CONTRIBUTED TO SERVICE SECTOR BY USING FINANCIAL, INSURANCE, TELECOMMUNICATIONS, ENERGY AND OTHER SERVICES, MR LEUNG SAID.

NOTED THAT

ELABORATING ON THE IMPORTANCE OF MANUFACTURING, HE IT ACCOUNTED FOR A THIRD OF THE WORKFORCE AND IT ALSO HELPED DEVELOP HỒNG HÙNG'S LINKAGE INDUSTRIES AND VARIOUS MANUFACTURING-RELATED SKILLS AND SERVICES SUCH AS PRODUCT DESIGN AND DEVELOPMENT, LABORATORY SERVICES AND QUALITY ASSURANCE.

"THESE ENABLE