XN000022-1992-03-19 — Page 2

THURSDAY, MARCH 19, 1992

STI COMMENTS ON MFN VOTE

SUPPORTERS OF THE BILL ATTACHING CONDITIONS TO THE

CHINA'S

NATION MOST FAVOURED (WEDNESDAY) FAILED TO OVERRIDE SENATE. THE VOTE WAS 60 TO 38.

COMMENTING ON THIS,

THE

(MFN) TRADING PRESIDENTIAL

RENEWAL OF

STATUS VETO IN

YESTERDAY THE U.S.

INDUSTRY,

THE SECRETARY FOR TRADE AND FELL SHORT OF THE TWO-THIRDS MAJORITY MR T.H. CHAU SAID THE VOTE

BILL WAS THEREFORE REQUIRED TO OVERRIDE THE PRESIDENTIAL VETO. DEAD.

THE

THE

CANNOT "UNFORTUNATELY THIS IS NOT THE END OF THE MATTER AND WE

THE U.S. LEGISLATION, RELEVANT AFFORD TO BE COMPLACENT. UNDER

STATUS FOR CHINA ON AN ANNUAL PRESIDENT HAS TO RENEW MFN TRADING

CAN BE BASIS. HE HAS TO DO SO BY JUNE 3 EVERY YEAR BUT HIS DECISION

RESOLUTION. THE CONGRESS COULD ALSO OVERTURNED BY A CONGRESSIONAL

IMPOSE CONDITIONS ON INTRODUCE A NEW BILL IN YET ANOTHER ATTEMPT TO THE RENEWAL OF CHINA'S MFN STATUS."

BUSH, "PRESIDENT

IN HIS

MESSAGE

TO THE CONGRESS

EARLIER

THIS MONTH WHEN HE VETOED THE BILL, MADE PARTICULAR REFERENCE TO KONG'S ECONOMIC WELL-BEING.

"

"WE BELIEVE THAT HE WILL

KONG'S TAKE INTO

HONG ACCOUNT ON THE 3,

RENEWAL OF MFN TRADING INTERESTS IN DECIDING, BY JUNE STATUS FOR CHINA FOR ANOTHER YEAR," MR CHAU SAID.

HE ADDED THAT THE GOVERNMENT WOULD CONTINUE TO

RENEWAL PRIVATE SECTOR IN SUPPORT OF TRADING STATUS.

UNCONDITIONAL

WORK WITH THE MPN OF CHINA'S

GOVT INVESTS A LOT TO HELP INDUSTRIES

IN

THE GOVERNMENT IS INVESTING A GREAT DEAL OF CAPITAL AND EFFORT PROVIDING A SOUND INDUSTRIAL INFRASTRUCTURE, TRADE AND INDUSTRY, MR T.H. CHAU, SAID.

THE

SECRETARY

FOR

SPEAKING AT A LUNCHEON HOSTED BY THE DIRECTORS OF PO LEUNG KUK THIS (THURSDAY) AFTERNOON, MR CHAU SAID WHILE BUSINESS DECISIONS LEFT TO BUSINESSMEN, IT DID NOT MEAN THAT THE GOVERNMENT DID TO SUPPORT THE INDUSTRIES.

WERE

NOTHING

"OUR

TO AIM IS TO CREATE AN ENVIRONMENT WHICH IS FAVOURABLE INVESTMENT, AND WHICH ENABLES INDUSTRY TO FUNCTION EFFICIENTLY; AS WELL AS TO PROVIDE SUPPORT SERVICES WHICH ENABLE INDUSTRY TO IMPROVE ITS COMPETITIVENESS THROUGH PRODUCTIVITY GROWTH, QUALITY IMPROVEMENT

AND PRODUCT INNOVATION.

/"WE ALSO