XN000022-1990-07-31 — Page 5

TUESDAY, JULY 31, 1990

MANUFACTURERS MEANS OF

MR CHAN SAID THE GOVERNMENT'S POLICY HAD FORCED TO MAKE CONTINUOUS EFFORTS TO SEEK THE MOST COST-EFFECTIVE

EFFECT OF SHARPENING THE PRODUCTION, THEREBY ACHIEVING COMPETITIVE EDGE OF OUR PRODUCTS.

THE

BY

HE SAID HONG KONG MANUFACTURERS, BEING CONSTANTLY EXERCISED

HIGH DEGREE SUCH AN OPERATING ENVIRONMENT, HAD GENERALLY DEVELOPED A

GRASP OF FLEXIBILITY AND ADAPTABILITY, AS WELL AS A STRONG ABILITY TO OPPORTUNITIES.

"THE INITIATIVE TAKEN BY HONG KONG MANUFACTURERS

MAJOR INVESTMENTS AND TO PURSUE 10 YEARS TO MAKE

AND OTHER PARTS SHENZHEN CO-OPERATION ACTIVITIES IN PROVIDE THE BEST EXAMPLES OF THEIR ABILITY TO TAKE

ΤΟ OFFERED BY CHINA'S OPENING UP

AND PROBLEMS OF HIGH LAND PRICES WERE FACED IN HONG KONG,

HE SAID.

IN THE PAST OTHER ECONOMIC

OF GUANGDONG THE OPPORTUNITIES

TO WORLD

SOLVE THE WITH WHICH THEY

THE LABOUR SHORTAGE

OUTSIDE

MR CHAN SAID HONG KONG'S ECONOMIC TERRITORY'S UNIQUE ECONOMIC CIRCUMSTANCES.

ECONOMY, GOVERNMENT'S

POLICY

WAS

ΤΟ SUITED

THE

TO

HONG KONG

VULNERABLE IS "AS A SMALL AND OPEN

TO CAPACITY

TAKE EFFECTIVE EXTERNAL

AND FACTORS, MEASURES TO OFFSET UNFAVOURABLE EXTERNAL INFLUENCES IS LIMITED.

FOR THE "IN THESE CIRCUMSTANCES, IT IS USUALLY MORE EFFECTIVE

THE MARKET FORCES ALLOCATION OF ECONOMIC RESOURCES TO BE DECIDED BY OF SUPPLY AND DEMAND.

"WITH

THIS POLICY,

INVEST, TO

COUPLED

WITH

A

TAXATION

WHICH SYSTEM HARD AND FOR OUR PROVIDES STRONG INCENTIVES FOR OUR LABOUR TO WORK

INTO AN HAS DEVELOPED HONG KONG ENTREPRENEURS

FINANCIAL CENTRE INTERNATIONALLY-RENOWNED INDUSTRIAL, COMMERCIAL AND IN THREE TO FOUR DECADES.

"THIS IS REALLY A REMARKABLE ACHIEVEMENT AND IS AN ECONOMIC MIRACLE BY MANY PROPLE ALL OVER THE WORLD,

RECOGNISED AS HE SAID.

HONG

HE SAID WHILE THE GOVERNMENT DID NOT PROTECT OR SUBSIDISE

INFRASTRUCTURAL KONG'S INDUSTRIES, IT ACTIVELY PROVIDED THE NECESSARY AND DEVELOPMENTAL SUPPORT TO PROMOTE AND ENCOURAGE THEIR GROWTH.

INFRASTRUCTURE AS

WAS

DIRECT AND

AND WITH ADEQUATE

IN THE SUPPLY

THROUGH CONCERNED, AS FAR INVESTMENT AND CONSTRUCTION, CO-OPERATION WITH THE PRIVATE SECTOR

UTILITIES, PUBLIC

THE GOVERNMENT MONITORING OF THE PRIVATELY-OWNED

WAS PROVIDED ENSURED THAT THE INDUSTRIAL SECTOR EFFICIENT FACILITIES AND SERVICES AT REASONABLE COSTS OF WATER AND ELECTRICITY, TELECOMMUNICATION AND TRANSPORTATION,

ON AS REGARDS INDUSTRIAL LAND, THE GOVERNMENT WOULD GRANT LAND

LAND AND CAPITAL SPECIAL TERMS TO INDUSTRIES WHICH REQUIRE A LOT OF

AND RAISE IN ORDER TO DEVELOP THE FOUNDATION OF HONG KONG'S INDUSTRY THE STANDARD OF INDUSTRIAL TECHNOLOGY.

/"WE ALSO