XN000022-1992-04-03 — Page 5

FRIDAY, APRIL 3, 1992

THE REGION ACCOUNTED FOR HALF OF THE WORLD'S GROSS NATIONAL PRODUCT AND ONE-THIRD OF WORLD TRADE.

BEEN

"IN THE LAST DECADE, ASIA-PACIFIC ECONOMIES GREW AT AN OF EIGHT PER CENT A YEAR OVERALL. FOR THOSE WHICH HAVE NEWLY INDUSTRIALISED ECONOMIES OR DYNAMIC ASIAN ECONOMIES, THE WAS EVEN FASTER, AT 12 PER CENT PER ANNUM, HE SAID.

TRADING

AVERAGE

DUBBED GROWTH

ENTITY IN 12 PARTNERS,

TRADING NOTING THAT HONG KONG WAS THE 10TH LARGEST THE WORLD, MR HO SAID AMONG HONG KONG'S TOP 20 WERE FROM THE ASIA PACIFIC REGION.

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INDEED, CHINA IS OUR LARGEST TRADING PARTNER, WITH USA SECOND AND JAPAN THIRD.

COMING

ACCOUNTED FOR 78 PER CENT "IN 1991, ASIA PACIFIC

OF HONG

THE KONG'S TOTAL TRADE. OUR EXPORTS TO

REGION GREW AT AN AVERAGE ANNUAL RATE OF 14 PER CENT DURING THE LAST DECADE TO REACH A TOTAL $160 BILLION IN 1991," HE SAID.

OF

AS REGARDS THE RE-EXPORT TRADE, MR HO SAID HONG KONG RE-EXPORTED GOODS VALUED AT $381 BILLION TO THE REGION LAST YEAR.

GROWTH IN THIS RE-EXPORT TRADE IN THE LAST DECADE AMOUNTED 31 PER CENT EACH YEAR AND WAS CONTINUING.

TO

HONG KONG AS A IN THE REGION, AND OUR

"THIS REFLECTS THE GEOGRAPHICAL ADVANTAGE OF GATEWAY BETWEEN CHINA AND OTHER MASSIVE INVESTMENT INTO SOUTHERN CHINA.

ECONOMIES

"OUR IMPORTS FROM THE REGION ARE EQUALLY SIGNIFICANT, BY AN ANNUAL AVERAGE OF 18 PER CENT DURING THE LAST DECADE,

IN A NUTSHELL, MR HO SAID, HONG KONG WAS PART OF THE ASIA PACIFIC.

GROWING HE SAID.

CLEARLY AN

INTEGRAL

GREAT

"OUR STRATEGIC LOCATION IN THE REGION HAS HELPED US TO PROSPER,

IN THE REGION AND AND GREATER ECONOMIC TIES WITH COUNTRIES REGIONAL ECONOMIC CO-OPERATION WILL IN TURN CONTINUE TO PROVIDE GOOD INVESTMENT OPPORTUNITIES IN HONG KONG ITSELF," HE SAID.

A

HONG KONG GROWING THE WAY IN THE MARKET OF THE

AT A EARLIER, MR HO SAID

LUNCH MEETING

THE OF AUSTRALIA BUSINESS ASSOCIATION IN MELBOURNE THAT THERE WAS INTEGRATION BETWEEN HONG KONG AND CHINA AS BOTH LED DEVELOPMENT OF THIS LARGE, AND STILL LARGELY UNTAPPED GREATER SOUTH CHINA HINTERLAND.

"HONG KONG BUSINESSMEN, WITH THEIR ENTREPRENEURIAL FLAIR AND LANGUAGE AND GOOD UNDERSTANDING OF INTERNATIONAL MARKETS, AND COMMON CULTURE WITH COUNTERPARTS AND WORKERS IN THE GUANGDONG PROVINCE WILL

INDUSTRY CONTINUE TO BE THE MAIN MOVERS OF COMMERCE AND

IN SOUTHERN

CHINA.

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"THEY ARE THE NATURAL CONNECTION FOR ANY OVERSEAS WANTING TO DO BUSINESS IN OUR PART OF THE WORLD, HE SAID.

+

COMPANIES

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