XN000022-1989-09-15 — Page 4

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FRIDAY, SEPTEMBER 15, 1989

HONG KONG'S ECONOMIC SIGNS ARE GOOD

OFFICE IN REMARKED THAT THE KONG'S ECONOMY ΤΟ ANY

THE DEPUTY DIRECTOR OF HONG KONG ECONOMIC AND TRADE SAN FRANCISCO, MR JACK CHAN, YESTERDAY (THURSDAY) RECENT UNREST IN CHINA HAS NOT AFFECTED HONG SIGNIFICANT DEGREE.

A ADDRESSING

GROUP

AND

THAT HONG GOOD AND

OF ASIAN AMERICAN PROFESSIONALS GOVERNMENT OFFICIALS IN SAN JOSE, CALIFORNIA. MR CHAN SAID

AND ALL INTACT

THE KONG'S ECONOMY IS

ARE SIGNS

ENCOURAGING.

VITAL

EXPORTS

"OUR TRADE WITH CHINA CONTINUES TO EXPAND. HONG KONG'S

YEAR INCREASED AND RE-EXPORTS TO AND IMPORTS FROM CHINA IN JULY THIS

THAT OF THE BY 16. 11 AND 30 PER CENT RESPECTIVELY AS COMPARED WITH SAME PERIOD LAST YEAR. AS FAR AS HONG KONG'S ECONOMY 19 CONCERNED, IT IS BUSINESS AS USUAL.

-

MR CHAN TOOK THE RECENT AWARD OF THE

GARDEN ROAD OF THE

THE PURCHASE

CONFIDENCE IN HONG KONG.

SITE

CABLE TV FRANCHISE AND

OF EVIDENCE AS

BUSINESS

AND OPERATE HONG KONG'S

HE SAID THAT THE FRANCHISE TO BUILD FIRST CABLE TV SYSTEMS WAS AWARDED LAST MONTH.

BY THE

ON THE

THE WINNING CONSORTIUM. INCLUDES A 25 PER CENT HOLDING AMERICAN CORPORATION US WEST, WILL INVEST OVER US$500 MILLION PROJECT WITH A PAY BACK PERIOD EXTENDING TO SEVEN YEARS AFTER 1997.

AREA. THE THE LAST PRIME SITE IN HONG KONG'S CENTRAL BUSINESS GARDEN ROAD SITE, WAS RECENTLY BOUGHT BY A CONSORTIUM FOR ABOUT US$350 MILLION. THE TOTAL INVESTMENT COST INCLUDING CONSTRUCTION MAY REACH US $700 MILLION. AGAIN THE PAY BACK PERIOD IS WELL BEYOND 1997.

FUTURE

"ALL THESE DEMONSTRATE THAT THE BUSINESS SECTOR

IN THE REMAIN OVERSEAS NOTWITHSTANDING THE RECENT DISTURBANCE IN CHINA.

AND

CHAN

CONFIDENT

HONG KONG HAS

MR

THAT SAID OPPORTUNITIES FOR AMERICANS.

114

IN LIONG KONG OF

KONG HONG

TREMENDOUS

BUSINESS

"HONG KONG IS AN IMPORTANT MARKET FOR AMERICAN GOODS. IN WE IMPORTED FROM THE US $5.3 BILLION WORTH TRADE AMOUNTED TO US$21 BILLION. ON A PEOPLE ARE THE BIGGEST

GOODS

US OF

YEAR.

1988. OF GOODS AND OUR TOTAL PER CAPITA BASIS, HONG KONG OF AMERICAN GOODS. EACH

OF AMERICAN

EACH EEC COUNTRIES US$179. JAPAN

AUSTRALIA

ARE US$335. AND TAIWAN US$224, KOREA US$186.

CUT DIAMONDS, AND NUMBER ONE EXPORT MARKET FOR AMERICAN GINSENG AND NUMBER THREE FOR AMERICAN CIGARETTES AND ORANGES.

CONSUMERS

US$1.000

WORTH

US$362

THAN CONSUMES MORE SUBSTANTIALLY MORE THAN FOR EXAMPLE THE

TRULY

ON THE QUESTION OF 1997. MR CHAN SAID HE THE SINO-BRITISH AGREEMENT ON THE FUTURE OF HONG KONG AND FAITHFULLY IMI'LEMENTED.

WE

BELIEVES THAT WILL BE FULLY

THE SINO-BRITISH