XN000022-1991-05-14 — Page 4

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TUESDAY, MAY 14, 1991

WENT

PARENTS

SENT

SIR DAVID SAID THE LINKS BETWEEN HONG KONG AND AUSTRALIA BEYOND TRADE AND ECONOMICS, CITING THAT MANY HONG KONG THEIR CHILDREN TO AUSTRALIA FOR EDUCATION.

COME

"ALMOST INCREDIBLY, 13 PER CENT OF YOUR OVERSEAS STUDENTS

SOURCE OF FULL-FEE, FROM HONG KONG. THEY ARE AUSTRALIA'S LARGEST FORMAL COURSE STUDENTS," HE ADDED.

THE GOVERNOR EXPLAINED IN DETAILS WHAT THE GOVERNMENT WAS DOING SEPARATE TO ACTIVELY PREPARE HONG KONG TO ENTER THE 21ST CENTURY AS A

ACTIVITY IN THE ASIA PART OF CHINA AND A KEY CENTRE OF ECONOMIC PACIFIC.

HE SAID THE SO-CALLED BRAIN DRAIN HAD HIDDEN ECONOMIC MUSCLE IN THE OTHER DIRECTION.

A MOVEMENT OF

"DESPITE ALL THE TALK OF PROBLEMS AND FEARS FOR THE FUTURE, THE CONTINUED TO GROW. FOREIGN BUSINESS COMMUNITIES IN HONG KONG HAVE THIS SHOWS WHAT BUSINESS PEOPLE THINK OF THE OPPORTUNITIES,

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HE SAID.

THE GOVERNOR POINTED OUT THAT THE TRADITIONAL IMAGE OF A COLONY ADDING WOULD BB A COMPLETELY INACCURATE PICTURE OF MODERN HONG KONG,

IT WAS SOMETHING THAT THE TERRITORY WAS NOT JUST AN ECONOMIC MIRACLE, OF A SOCIAL MIRACLE.

IN TERMS OF SOCIAL MOBILITY, EQUALITY OF OPPORTUNITY, BEFORE THE LAW AND OTHER KEY ESSENTIALS OF A MODERN, COMMUNITY, HONG KONG HAD FEW RIVALS, THE GOVERNOR SAID.

"MORE THAN HALF OUR UNIVERSITY

EQUALITY CIVILISED

ENTRANTS COME FROM PUBLIC MORE FREEDOM TO ESTATES. HOUSING

HONG KONG PEOPLE HAVE POSSIBLY CHOOSE WHAT TO DO WITH THEIR INCOME THAN ANYWHERE ELSE IN THE WORLD.

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THE LAST

REAL WAGES HAVE GONE UP EIGHT PER CENT A YEAR OVER 20 YEARS. MAXIMUM PERSONAL TAX IS ONLY 15 PER CENT AND OUT OF A POPULATION OF 5.78 MILLION ONLY ABOUT 20 PER CENT PAY ANY TAX.

WORK.

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"

SIR DAVID SAID,

"AND HONG KONG IS NOT JUST AN EXCITING PLACE TO LIVE AND

ALSO ONE OF THE SAFEST IT IS

AN UNUSUAL COMBINATION PERHAPS PLACES, LIKE AUSTRALIA,

CHALLENGE ACKNOWLEDGING THAT HONG KONG WAS FACING AN ENORMOUS

ANSWERED AT THIS AND THERE WERE MANY QUESTIONS THAT COULD NOT BE STAGE. THE GOVERNOR SAID THE FUTURE COULD NEVER BE CERTAIN WAS

BUT WHAT

FOR SURE WAS THAT THE HONG KONG GOVERNMENT WAS DETERMINED EVERYTHING IT COULD TO PREPARE FOR FUTURE CHANGE AND TO BUILD A FOUNDATION FOR THE FUTURE OF HONG KONG WELL BEYOND 1997.

ΤΟ DO SOLID

A REGIONAL COMMERCIAL "HONG KONG HAS A KEY ROLE TO PLAY AS CENTRE STRATEGICALLY PLACED IN ONE OF THE FASTEST GROWING AREAS OF THE WORLD.

THIS ROLE,

HOPE THERE WILL BE PLENTY OF AUSTRALIANS HELPING IT TO

THE GOVERNOR SAID.

PLAY

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