XN000022-1990-01-05 — Page 6

I

5.

FRIDAY, JANUARY 5, 1990

DEVELOPMENT

"I BELIEVE THAT PROVIDED ALL FACTORS FAVOURABLE TO TRADE REMAIN UNCHANGED, AND GIVEN THE ADAPTABILITY OF HONG KONG'S TRADE AND ECONOMIC SYSTEMS, THE SLOW DOWN IN ECONOMIC GROWTH WOULD NOT HAVE ANY ADVERSE EFFECT ON THE DEVELOPMENT OF TRADE.

"IT ONLY MEANS THAT HONG KONG'S ECONOMIC AND TRADE DEVELOPMENT IS ENTERING A PERIOD OF CONSOLIDATION, WHICH IS A NORMAL PHENOMENON IN THE PROCESS OF PERIODIC ADJUSTMENT, HE SAID.

ON THE

RETRENCHED

ECONOMIC POLICY RECENTLY IMPLEMENTED BY LOCAL MANUFACTURERS ONLY CHINA, MR CHAN NOTED THAT

MOVED PART OF THEIR PRODUCTION PROCESS TO THE MAINLAND AND THE

MATERIALS WERE

SUPPLIED BY HONG KONG.

RAW

FINISHED PRODUCTS AND SEMI-FINISHED) PRODUCTS WERE ALSO SHIPPED BACK TO HONG KONG FOR SALE ABROAD.

"WE BELIEVE 'THEREFORE THAT THE RETRENCHED POLICY OF THE WITH MAINLAND WOULD NOT GREATLY AFFECT THE ARRANGEMENTS OF PROCESSING SUPPLIED MATERIALS.

"ON THE OTHER HAND, THE SHARP DEPRECIATION OF RENMINBI

WHO HAVE SET RECENTLY SHOULD BE FAVOURABLE TO LOCAL BUSINESSMEN THEIR FACTORIES IN THE MAINLAND," HE SAID.

UP

UP HONG KONG

COULD

BEEN OPENING AT THE SAME TIME, HE ADDED, AS HONG KONG HAD NEW MARKETS OVER THE YEARS, EVEN IF CHINA'S DEMAND FOR PRODUCTS SLACKENED BECAUSE OF THE RETRENCHED POLICY, HONG STILL HOPE TO CREATE MORE OPPORTUNITY FOR THE SALE OF PRODUCTS THROUGH THE OPENING UP OF NEW MARKETS.

RONG

HONG KONG

HAS PLANS TO OF SOUTH AMERICAN

"IN THIS RESPECT, THE TRADE DEVELOPMENT COUNCIL CARRY OUT A TRADE PROMOTION PROGRAMME IN A NUMBER AND EAST EUROPEAN COUNTRIES THIS YEAR, HE SAID.

AS REGARDS ANTI-DUMPING ACCUSATIONS, MR CHAN SAID THE

WITH GOVERNMENT WOULD CONTINUE TO CLOSELY CO-OPERATE

PEOPLE IN THE INDUSTRIAL AND COMMERCIAL SECTORS TO ARGUE THE CASE THROUGH LEGAL PROCEDURES AND CANVASSING.

"MOREOVER, IT WILL ALSO FIGHT FOR RATIONAL AND FAIR TREATMENT FOR HONG KONG ON THE BASIS OF THE PROVISIONS OF GATT. HE SAID.

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