XN000022-1989-10-26 — Page 5

THURSDAY, OCTOBER 26, 1989

TURNING TO THE ECONOMIC

CHTNA, WHICH HE SAID WAS

RELATIONSHIP

BETWEEN

AND HONG KONG

FUTURE TO HONG KONG'S ONE

KEYS OF THE

THE MOST IMPORTANT BCONOMIC DEVELOPMENT. MR CHAN SAID HONG KONG WAS

70 PER SOURCE OF EXTERNAL INVESTMENT IN CHINA, ACCOUNTING FOR AROUND CENT OF THE TOTAL IN TERMS OF BOTH THE NUMBER OF VENTURES SET THE AMOUNT OF MONEY INVESTED.

UP AND

INVESTMENT IN HONG KONG "IN THE OPPOSITE DIRECTION, CHINESE

TRADITIONAL HAS ALSO GROWN TREMENDOUSLY, AND HAS DIVERSIFIED FROM THE

SUCH AS PROPERTY NEW AREAS VARIOUS INTO SECTORS TRADE-RELATED

AND MANUFACTURING FINANCIAL SERVICES, INVESTMENT, PROJECTS.

..

INFRASTRUCTURAL

ALMOST CERTAINLY THE

HE SAID THAT IN OVERALL TERMS CHINA WAS LARGEST SINGLE SOURCE OF EXTERNAL INVESTMENT IN HONG KONG.

INVESTMENT

"AND WE KNOW THAT, IN THE SPECIFIC AREA OF EXTERNAL

LARGEST SOURCE IN OUR MANUFACTURING INDUSTRY, CHINA IS NOW THE THIRD

FOR AROUND EIGHT PER AFTER THE UNITED STATES AND JAPAN, ACCOUNTING CENT OF THE TOTAL."

MR CHAN SAID THIS

VERY

CLOSE

ECONOMIC

HONG KONG AND CHINA HAD PLACED HONG

KONG

A IN

RELATIONSHIP

UNIQUE POSITION

BETWEEN

TO

CONTRIBUTE TOWARDS CHINA'S ECONOMIC DEVELOPMENT.

WITH

HONG

"WITH ITS LONG EXPERIENCE AND PROVEN EXPERTISE IN TRADING THE OUTSIDE WORLD, AND ITS KNOWLEDGE AND UNDERSTANDING OF CHINA,

TRADER WHO IS KEEN ON KONG WILL HAVE MUCH TO OFFER TO THE WESTERN EXPLOITING THE VAST CHINESE MARKET,

HE SAID.

LOCAL MANUFACTURERS TO BENEFIT FROM SINGLE EUROPEAN MARKET

LEUNG, SAID TODAY THE DEPUTY DIRECTOR OF INDUSTRY, MR ANDREW

CONFIDENCE EVERY

THAT LOCAL MANUFACTURERS, (THURSDAY) THAT HE HAS

BENEFITS WITH THEIR FLEXIBILITY AND CAPABILITY, WOULD BE ABLE TO REAP FROM THE SINGLE EUROPEAN MARKET IN 1992.

AND TO GUARD BUT IN ORDER TO CAPITALISE ON THE OPPORTUNITIES

MIGHT ARISE WHEN

HE 1992 COMES. AGAINST SOME OF THE PITFALLS THAT

то KEEP A CLOSE WATCH ON CALLED ON PARTIES CONCERNED TO CONTINUE DEVELOPMENTS.

EXECUTIVES CHINESE

CLUB OF THE

1992"

MR LEUNG WAS ADDRESSING THE BONG KONG MANAGEMENT ASSOCIATION ON THE IMPLICATIONS OF "EUROPE FOR HONG KONG'S MANUFACTURING INDUSTRIES.

/MR LEUNG