XN000022-1992-10-01 — Page 11

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THURSDAY, OCTOBER 1, 1992

MEANWHILE, THE DELTA GAINED IN TERMS OF TECHNOLOGY TRANSFER, EMPLOYMENT OPPORTUNITIES, EDUCATION FOR ITS WORKERS AND AN ECONOMIC BOOM WITH INCREASED PROSPERITY FOR ALL.

PER CAPITA GDP IN THE SPECIAL ECONOMIC ZONE OF SHENZHEN STOOD AT US$1,300 LAST YEAR MORE THAN FOUR TIMES THAT FOR THE CHINA.

—

PER CAPITA GDP IN HONG KONG IS EXPECTED TO EXCEED THIS YEAR, THE SECOND HIGHEST IN ASIA AFTER JAPAN.

REST OF

US$16,000

LOOKING AHEAD, MR CHAU CONCEDED THAT THERE WAS ONE POTENTIAL CLOUD ON THE HORIZON: TRADE FRICTION BETWEEN CHINA AND THE UNITED STATES, HONG KONG'S SECOND LARGEST TRADE PARTNER.

HE HOPED THAT AN AMICABLE SETTLEMENT COULD BE REACHED.

"BUT THE FUNDAMENTAL DYNAMIC BEHIND HONG KONG'S RELATIONSHIP WITH SOUTHERN CHINA IS HEALTHY: WELL-DEVELOPED ECONOMY GRAVITATING NORTHWARD IN SEARCH OF THE MORE ABUNDANT LAND AND LABOUR OF A LESS- DEVELOPED ECONOMY, HE SAID.

**

"LARGELY BECAUSE OF THE SUCCESS OF THE HONG KONG-PEARL RIVER DELTA RELATIONSHIP, BEIJING IS PURSUING NEW DIRECTIONS IN ECONOMIC REFORM WHICH GO BEYOND THE MANFACTURING SECTOR," HE ADDED.

HONG KONG WAS PLAYING A PIONEERING ROLE IN PENETRATING THE LARGE CONSUMER MARKET IN CHINA AND WAS USING ITS CONNECTIONS IN THE PEARL RIVER DELTA TO BUILD ON ITS LEAD, MR CHAU NOTED.

HE ADDED THAT IT WAS IMPORTANT TO REMEMBER THAT HONG KONG WAS A SEPARATE ECONOMIC ENTITY, AND THAT EVEN AFTER 1997 IT WOULD CONTINUE TO BE A SEPARATE CUSTOMS TERRITORY AND TO MAKE TRADE AND DECISIONS ON ITS OWN.

"IT IS BY REMAINING AN AUTONOMOUS TRADING PARTNER AND FORCE THAT HONG KONG CAN BEST RETAIN ITS DYNAMISM AND BUILD CURRENT ROLE, HE SAID.

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ECONOMIC

ECONOMIC ON ITS

0

CANADIANS UPDATED ON INFRASTRUCTURAL DEVELOPMENTS IN HK

* *

ONE OF THE MOST IMPORTANT REASONS WHY HONG KONG HAS BEEN ABLE TO KEEP PACE WITH DRAMATIC LEVELS OF ECONOMIC AND POPULATION GROWTH IS ITS READINESS TO ENCOURAGE THE PRIVATE SECTOR TO PLAY AS LARGE A ROLE AS POSSIBLE IN THE FINANCING AND MANAGEMENT OF KEY INFRASTRUCTURAL

PROJECTS.

THIS WAS STATED BY THE SECRETARY FOR ECONOMIC SERVICES, MRS ANSON CHAN, TODAY (THURSDAY) AT A BUSINESS SEMINAR ORGANISED BY THE HONG KONG TRADE DEVELOPMENT COUNCIL IN TORONTO, CANADA.

/OUTLINING THE