XN000022-1992-01-21 — Page 4

3

TUESDAY, JANUARY 21, 1992

"IF IT'S GOING TO DO THAT THEN IT NEEDS INTERNATIONAL AND ECONOMIC INVOLVEMENT.

BUSINESS

AS

"I BELIEVE THOSE WHO GET INVOLVED ECONOMICALLY WILL BENEFIT A RESULT BECAUSE HONG KONG IS A RAPIDLY GROWING ECONOMY, WHERE MONEY CAN BE MADE VERY FAST AND RETURN ON CAPITAL IS QUICK," HE SAID.

HOWEVER, THE GOVERNOR ALSO BELIEVED THAT IF THE INTERNATIONAL BUSINESS COMMUNITY PARTICIPATED IN HONG KONG THEY WOULD HELP TO CREATE THE TYPE OF PLACE PEOPLE WOULD LIKE TO SEE AFTER 1997 AND THAT WOULD BENEFIT CHINA.

"IT WILL MAKE SURE THAT ALL THOSE ARRANGEMENTS WHICH HAVE BEEN CAREFULLY WORKED OUT AND LAID DOWN ON PAPER, ACTUALLY HAVE THE MAXIMUM POSSIBLE CHANCE TO WORK OUT IN PRACTICE.

SIR DAVID SAID ANOTHER REASON WHY HE HAD BEEN TRAVELLING AROUND THE WORLD, INCLUDING HIS VISIT TO GERMANY, WAS ΤΟ ENCOURAGE THAT SORT OF PARTICIPATION BOTH TO THE BENEFIT OF THE BUSINESSMAN, BUT FOR THE LONGER TERM BENEFIT OF HONG KONG AND ITS POSITION AS A BRIDGE BETWEEN CHINA AND THE REST OF THE CAPITALIST WORLD.

"I HOPE THAT GERMANY AS OUR LARGEST TRADING PARTNER IN THE EUROPEAN COMMUNITY WILL GO ON BEING AS ACTIVELY INVOLVED IN HONG KONG IN THE FUTURE AS IT IS AT THE MOMENT, THE GOVERNOR ADDED.

11

DURING HIS SPEECH, SIR DAVID ALSO SPOKE OF THE RAPID DEVELOPMENT OF SOUTHERN CHINA, PARTICULARLY GUANGDONG PROVINCE, AND SAID THE GROWTH OF THIS PART OF CHINA WAS VERY MUCH DEPENDENT ON, AND PRODUCED BY, HONG KONG.

AT THE END OF THE FUNCTION IN BONN, SIR DAVID IMMEDIATELY FLEW TO LONDON WHERE HE HAS ANOTHER BUSY ROUND OF OFFICIAL ENGAGEMENTS, INCLUDING A BUSINESS CONFERENCE ON THE OPPORTUNITIES AVAILABLE IN HONG KONG AND GALA EVENINGS TO BE HELD AT THE BARBICAN CENTRE TOMORROW (WEDNESDAY) AND THURSDAY NIGHTS.

BALANCED ROLE OF GOVT & PRIVATE SECTOR IMPORTANT: STI

THE CORRECT BALANCE BETWEEN THE ROLE OF THE GOVERNMENT AND ROLE OF THE PRIVATE SECTOR IN THE AREA OF TRADE AND INDUSTRY IS VERY IMPORTANT REASON FOR THE PROSPERITY OF HONG KONG.

THE

ONE

THIS WAS STATED BY THE SECRETARY FOR TRADE AND T.H. CHAU,

INDUSTRY, MR

WHEN HE ADDRESSED A LUNCHEON MEETING OF THE CITY LIONS CLUB OF HONG KONG TODAY (TUESDAY).

MR CHAU SAID HONG KONG'S EXPERIENCE IN THE PAST 40 AND MORE YEARS HAS CONFIRMED THE BELIEF THAT HONG KONG CAN REMAIN COMPETITIVE ONLY BY ALLOWING THE DEVELOPMENT OF ITS ECONOMY TO BE DICTATED NOT BY THE GOVERNMENT, BUT BY THE FREE PLAY OF MARKET FORCES.

/"WE BELIEVE