XN000022-1992-08-27 — Page 13

12

THURSDAY, AUGUST 27, 1992

NON-INTERVENTIONIST POLICY COMPLEMENTS FREE TRADE REGIME: STI

* *

THE GOVERNMENT'S POSITIVE NON-INTERVENTIONIST POLICY AND THE FREE TRADE REGIME PRACTISED BY HONG KONG HAVE PERFECTED THE ADAPTABILITY, RESILIENCE AND RESOURCEFULNESS OF OUR PRIVATE SECTOR, ACTING SECRETARY FOR TRADE AND INDUSTRY, MISS DENISE YUE, SAID TODAY

(THURSDAY).

SPEAKING AT THE Y'S MEN'S CLUB OF HONG KONG LUNCHEON, MISS YUE SAID AN OPEN AND FREE TRADE REGIME MEANT THAT HONG KONG'S ECONOMIC SUCCESS DEPENDED LARGELY ON THE ENTREPRENEURIAL SKILLS, FLEXIBILITY AND RESILIENCE OF ITS BUSINESSMEN .

SHE POINTED OUT THAT ON THE GOVERNMENT'S PART, EFFORTS WERE CENTRED ON COMPLEMENTING THIS PRIVATE SECTOR-LED NATURE OF THE LOCAL ECONOMY.

"UNDER A POSITIVE NON-INTERVENTIONIST REGIME, THE ROLE OF THE GOVERNMENT IS ONE OF FACILITATION.

"IN THE TRADE AREA, FOR EXAMPLE, A SIZEABLE PORTION OF GOVERNMENT RESOURCES IS DEVOTED TO THIS PURPOSE, SHE SAID.

"

THE REASON FOR THIS IS BECAUSE HONG KONG SURVIVES ON INTERNATIONAL TRADE, IT HAS TO PLAY THE TRADE GAME ACCORDING TO RULES AGREED INTERNATIONALLY.

14

"WE, THEREFORE, NEED TO ENSURE THAT HONG KONG EXERCISES ITS RIGHTS AND MEETS ITS OBLIGATIONS UNDER VARIOUS TRADE ARRANGEMENTS, SHE SAID.

"THE INTEGRITY OF OUR SYSTEMS AND OUR ABILITY то ABIDE STAUNCHLY BY OUR INTERNATIONAL OBLIGATIONS HAVE GAINED US THE RESPECT THAT HAS BEEN TRANSLATED INTO CONCRETE TRADE BENEFITS, SHE ADDED.

**

SHE STRESSED THAT THE BELIEF IN FREE TRADE DID NOT MEAN THAT THE GOVERNMENT REFUSED TO GIVE TRADERS A HELPING HAND.

IN

COUNTERING

"THE GOVERNMENT'S EFFORT

UNJUSTIFIED ANTI-DUMPING ALLEGATIONS AGAINST HONG KONG COMPANIES AND ITS LOBBYING EFFORT IN CONNECTION WITH THE RENEWAL OF CHINA'S MOST FAVOURED-NATION TRADING STATUS IN THE

U.S. ARE AIMED AT CREATING A CONGENIAL INTERNATIONAL ENVIRONMENT WHERE TRADE CAN CONTINUE ON A FREE AND STABLE BASIS," SHE SAID,

WELL.

MISS YUE NOTED THAT FREE AND OPEN TRADE HAD SERVED HONG KONG

11

'NOTHING EXISTS TO SUGGEST WE NEED TO CHANGE THIS. LIKEWISE NOTHING EXISTS TO SUGGEST THAT THE GOVERNMENT'S POLICY OF MINIMUM INTERVENTION BUT MAXIMUM FACILITATION SHOULD BE CHANGED, SHE SAID.

**

0

—

/13