XN000022-1990-03-29 — Page 6

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THURSDAY, MARCH 29, 1990

DOUBT

THAT

EASE IN

HONG

WILL

"THE BRITISH CONNECTION IS VALUED, AND THERE IS NO MANY BRITISH INSTITUTIONS AND THEIR EXECUTIVES FEEL AT KONG BECAUSE SO MANY OF THE FORMS AND INSTITUTIONAL ARRANGEMENTS BE FAMILIAR TO THEM, HE SAID.

--

HONG

SPEAKING OF HONG KONG'S DRAMATIC TRANSFORMATION AND

So, DEVELOPMENT, SIR PIERS SAID OVER THE LAST 10 YEARS OR

KONG HAD EMERGED AS ONE OF THE MOST IMPORTANT

SERVICE CENTRES

OF SOUTH EAST ASIA.

COMMERCIAL

LARGER

VALUE IN

THAN TOTAL

"SERVICES NOW ACCOUNT FOR ABOUT 75 PER CENT OF OUR GROSS

AND RE-EXPORTS ARE DOMESTIC PRODUCT DOMESTIC EXPORTS, HE SAID.

"

ZONES

THE ESTABLISHMENT BY THE CHINESE OF THE SPECIAL ECONOMIC IN GUANGDONG AND A PARALLEL LIBERALISATION OF PROVINCIAL POLICIES ACHIEVED TWO THINGS.

"HONG KONG INDUSTRIALISTS GAINED ROOM FOR EXPANSION RIGHT NEXT PORT, DOOR, AND, AT THE SAME TIME, THERE WAS CREATED A NEW DEMAND FOR TRADE AND FINANCIAL SERVICES, WHICH WE IN HONG KONG HAVE BEEN ONLY TOO HAPPY TO MEET.

**PERHAPS FOR THE FIRST TIME IN ITS HISTORY HONG KONG ENJOYING THE BENEFITS OF AN ECONOMICALLY ACTIVE HINTERLAND.

HAS BEEN

"BUT HONG KONG'S OPPORTUNITIES DO NOT END THERE. NOT ONLY HAVE

AND THE DEVELOPMENTS IN GUANGDONG

REST OF CHINA BEEN OF GREAT A REGIONAL IMPORTANCE TO HONG KONG, HONG KONG HAS ALSO DEVELOPED AS SERVICES CENTRE.

"HONG KONG HAS PROVED ITS VALUE AS DESIGN, FINANCING, MARKETING, AND OFFERS BUSINESSES IN THE REGION TO PROSPER.

A CENTRE FOR SERVICES THAT

MANAGEMENT,

ENABLE MANY

"THE DEVELOPMENTS I HAVE DESCRIBED WILL BE OF ENORMOUS

AHEAD IN THE YEARS IMPORTANCE

BECAUSE

IN WITH OUR INVESTMENT

WILL FLOURISH BEST EDUCATION, HONG KONG IS PRODUCING THE PEOPLE WHO IN THIS SERVICE ORIENTED, MANAGERIAL, DEVELOPMENTAL ROLE," HE SAID.

REST OF THE "AS HONG KONG REACHES OUT TO THE NATURAL, PERHAPS INEVITABLE, THAT THE WORLD WILL WANT TO HONG KONG'S BUSINESS SCENE, HE SAID.

14

WORLD, IT IS

BE PART

OF

SIR PIERS SAID THAT RECENTLY THE STRESSES AND ECONOMY HAD BEEN FORMIDABLE.

STRAINS ON

OUR

HONG "NEVERTHELESS, SUCCESSFULLY DESPITE FIERCE COMPETITION

KONG'S INDUSTRY IS

ROUND ALL

STILL THE

OPERATING

REGION,

HE

SAID.

/MEETING NEW