XN000022-1990-10-16 — Page 6

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TUESDAY, OCTOBER 16, 1990

IN

HONG

AS FOR INVESTMENT IN MANUFACTURING INDUSTRIES, JAPAN SURPASSED

OVERSEAS THE USA IN BOTH 1987 AND 1988 AS THE TOP

INVESTOR

KONG IN A SINGLE YEAR.

ACCORDING ΤΟ THE RESULTS OF A RECENT SURVEY,

CHANNELLED 36.5 MANUFACTURERS

PER CENT MORE FUNDS IN ACQUISITIONS OF FIXED ASSETS IN HONG KONG THAN IN 1987.

JAPANESE

1988

ΤΟ

ABOUT

BY THE END OF 1988, JAPAN'S CUMULATIVE MANUFACTURING INVESTMENT IN HONG KONG STOOD AT US$893 MILLION, ACCOUNTING FOR 27 PER CENT OF THE OVERSEAS TOTAL, UP FROM 21 PER CENT IN 1985,

SPEAKING ON THE HONG KONG-CHINA RELATIONSHIP AND HOW IT HONG KONG REMAIN COMPETITIVE, MR WONG SAID THAT CENTRE, HONG KONG HAD DEVELOPED A "SYMBIOTIC" SOUTHERN REGION OF CHINA, SPECIFICALLY WITH FUJIAN PROVINCES.

SOPHISTICATION "WHEN THE MANAGEMENT

HELPED

AS A MANUFACTURING RELATIONSHIP WITH THE GUANGDONG, GUANGXI AND

AND MARKETING FLAIR OF PRODUCTION HONG KONG ARE INTEGRATED WITH THE LOW-COST AND HIGH-VOLUME CAPABILITIES OF CHINA, THE RESULT IS A FORMIDABLE ECONOMIC FORCE THAT PRESENTS A GENUINE CHALLENGE TO THE OTHER DYNAMIC ASIAN ECONOMIES' CURRENT DOMINATION OF LIGHT AND LOW-TECHNOLOGY MANUFACTURING INDUSTRIES," HE SAID.

MR WONG SAID THIS "SYMBIOTIC" RELATION BETWEEN CHINA WAS NOT JUST A THEORY BUT A REALITY.

HONG KONG AND

WORKERS "HONG KONG'S MANUFACTURERS NOW EMPLOY OVER TWO MILLION

TIMES HONG KONG'S IN CHINA, WHICH IS THREE

OWN INDUSTRIAL LABOUR

FORCE, HE SAID.

CHINA AND HONG KONG WERE ALSU CLOSE INVESTMENT PARTNERS.

HONG KONG'S

'CHINA IS THE THIRD LARGEST NON-LOCAL INVESTOR IN MANUFACTURING INDUSTRIES AFTER THE UNITED STATES AND JAPAN.

ACCOUNTS

OF WHICH

"ON THE OTHER HAND,

KONG HONG

FOR TWO-THIRDS DIRECT FOREIGN INVESTMENT IN CHINA, AT US$11.5 BILLION, MOST OF IS IN SOUTH CHINA.

"

BEEN CHANGED

HE SAID.

BY THE

"THIS ECONOMIC INTER-DEPENDENCE HAS NOT EVENTS WHICH TOOK PLACE IN CHINA IN JUNE LAST YEAR,

BY. THE THE INWARD INVESTMENT PROMOTION SYMPOSIUM IS ORGANISED JAPAN EXTERNAL TRADE ORGANISATION AND THE OSAKA CHAMBER OF COMMERCE.

HIGHLIGHT AND UPDATE THE IT NOT ONLY SERVES TO

SITUATION ON THE POINTS LATEST JAPANESE MANUFACTURING INVESTMENT IN HONG KONG BUT ALSO TO OPPORTUNITIES FOR THE FUTURE.

AFTER THE ADDRESS BY MR WONG, A FILM ENTITLED "HONG KONG WORKS" ONE WOULD ENCOUNTER IN JAPANESE WAS SHOWN TO PROVIDE A FEEL OF WHAT WHEN PLANNING AN OFFSHORE MANUFACTURING BASE IN HONG KONG.

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