XN000022-1989-10-11 — Page 27

10

WEDNESDAY, OCTOBER 11, 1989

WE HAVE PLAYED

GATEWAY "CHINA HAS USED HONG KONG AS A

FOR ITS EXPORTS FOR BUT IT IS ONLY RELATIVELY RECENTLY THAT MANY YEARS. SUCH AN IMPORTANT ROLE AS A CHANNEL FOR ITS IMPORTS.

SEE "OUR ASIA-PACIFIC NEIGHBOURS HAVE BEEN ESPECIALLY QUICK TO FOR EXAMPLE, IN 1988 ABOUT HONG KONG'S POTENTIAL IN THIS AREA.

ONE

CHINA QUARTER OF ALL JAPANESE EXPORTS TO

WERE ROUTED THROUGH HONG

KONG," HE SAID.

THE GOVERNOR SAID HONG KONG ALSO PLAYED A KEY ROLE IN FOREIGN

UP TO 1988, SOME 70 PER INVESTMENT IN CHINA.

CENT OF ALL SUCH INVESTMENT WAS BY COMPANIES INCORPORATED OR REGISTERED IN HONG KONG.

"NOT ALL OF THESE WERE HONG KONG COMPANIES. MANY WERE FOREIGN ONES WHICH HAD CHOSEN

USE HONG KONG AS THEIR BASE FOR THIS INVESTMENT.

ΤΟ

"AND WHY NOT? WE ARE NOT ONLY ON HAVE UNRIVALLED

WE CHINA'S DOORSTEP.

ALSO EXPERTISE IN DEALING WITH CHINESE OFFICIALS AND RANGE ENTERPRISES, PARTICULARLY IN GUANGDONG PROVINCE, AND THE FULL OF BACK-UP SERVICES THAT AN INVESTOR NEEDS." HE SAID.

YEARS THE GOVERNOR SAID THAT FOR MANY

TO COME, CHINA WOULD CONTINUE TO BE AN IMPORTANT MARKET FOR FOREIGN

AND EXPORTERS CONTINUE ΤΟ INVESTORS, AND HONG KONG WOULD

BE THE BEST MEANS OF

ACCESS TO IT.

CONTINUE TO BE

"BY PLAYING AN INTERMEDIARY ROLE, WE CAN ALSO OF BENEFIT TO CHINA. WE CAN PROVIDE INVESTMENT, FOREIGN EXCHANGE AND EXPERTISE TO HELP THE CHINESE ECONOMY CONTINUE TO EXPAND AND DEVELOP," HE SAID.

ON PARTICIPATION AT THE INTERNATIONAL LEVEL, THE GOVERNOR SAID HONG KONG NATURALLY WISHED TO PLAY AN ACTIVE ROLE IN INTERNATIONAL ORGANISATIONS THAT HELPED TO SHAPE THE WORLD WE LIVED IN AND THAT DEALT WITH ISSUES THAT AFFECTED OUR OWN INTERESTS.

AND

EFFORT "IN DOING THIS, WE HAVE DEVOTED MOST

TO ECONOMIC TRADE MATTERS. HONG KONG BECAME A SEPARATE CONTRACTING PARTY TO THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT) IN APRIL 1986.

"WE PLAY OUR PART IN IT VIGOROUSLY AND RESPONSIBLY. HONG KONG BODIES AND OFFICIALS SERVE AS CHAIRMEN OR MEMBERS OF A RANGE OF GATT DISPUTE SETTLEMENT PANELS.

"OUR ROLE AS A MAJOR TRADING ECONOMY: OUR DETERMINATION TO AS A UPHOLD THE PRINCIPLES OF FREE TRADE; AND OUR WILLINGNESS TO ACT

TO LINK BETWEEN DEVELOPED AND DEVELOPING NATIONS HAVE ALSO ENABLED US PLAY A SIGNIFICANT ROLE IN THE IMPORTANT URUGUAY ROUND OF MULTILATERAL TRADE NEGOTIATIONS," SIR DAVID SAID.

40 OTHER

APART FROM THE GATT, HONG KONG ALSO TOOK PART IN SOME INTERNATIONAL ORGANISATIONS AT GOVERNMENT LEVEL, THE GOVERNOR NOTED.

"WE HAVE MADE GOOD PROGRESS IN THE JOINT LIAISON GROUP IN MAKING SURE THAT HONG KONG WILL CONTINUE TO BE REPRESENTED IN THESE INTERNATIONAL ORGANISATIONS AFTER 1997.

/"IN ADDITION