XN000022-1992-10-03 — Page 4

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SATURDAY, OCTOBER 3, 1992

PORT

THE HONG KONG SAR WILL ALSO RETAIN THE STATUS OF A FREE AND A SEPARATE CUSTOMS TERRITORY, WHILE ITS GOVERNMENT WHICH WILL BE COMPOSED OF LOCAL HONG KONG PEOPLE, WILL DECIDE ITS ECONOMIC AND TRADE POLICIES ON ITS OWN.

"THUS, THE FUTURE SAR CAN BE EXPECTED TO RETAIN OUR FIRM COMMITMENT TO THE POLICIES OF FREE TRADE AND FREE ENTERPRISE; MINIMAL GOVERNMENT INTERVENTION IN THE MARKET PLACE; FREEDOM FROM EXCHANGE CONTROLS; A SIMPLE TAX SYSTEM WITH LOW TAX RATES; SOUND AND EQUITABLE BUSINESS LAWS; AND SO ON, MR CHAN ADDED.

ALTHOUGH THE JOINT DECLARATION AND THE BASIC LAW HAVE ALREADY SET OUT WHAT HONG KONG WILL BE LIKE AFTER 1997, MR CHAN NOTED THAT SOME PEOPLE STILL PERCEIVED THE GREAT UNCERTAINTY AS TO WHETHER WHAT HAD BEEN PROMISED WOULD ACTUALLY MATERIALISE.

THE OCCASIONAL SQUABBLE BETWEEN THE BRITISH AND CHINESE GOVERNMENTS OVER A HONG KONG ISSUE ALSO AROUSES IMMEDIATE CONCERNS THAT THE AGREEMENT OVER THE FUTURE OF HONG KONG WILL NOT WORK.

"IT IS IMPORTANT WHEN THIS HAPPENS THAT WE SHOULD LOOK PURPOSEFULLY INTO THE FUTURE, BEYOND THE IMMEDIATE PROBLEMS AND UNCERTAINTIES THAT CONFRONT US, MR CHAN SAID.

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"AFTER ALL, LIKE NO OTHER PLACE IN THE WORLD, HONG KONG LOOK TO A BINDING INTERNATIONAL AGREEMENT AND SAY, 'HEREIN IT IS ORDAINED'.

"SO THERE ARE VERY SOLID FOUNDATIONS UPON WHICH HONG KONG CAN BUILD FOR A BRIGHT FUTURE.

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TO CITE AN EXAMPLE THAT HONG KONG IS TACKLING ITS PROBLEMS IN A POSITIVE AND PURPOSEFUL WAY, MR CHAN SAID SOME 60,000 PEOPLE LEFT HONG KONG TO SETTLE ABROAD LAST YEAR.

OF THE TOTAL. ROUGHLY ONE IN THREE BELONGED то THE MANAGERIAL, ADMINISTRATIVE, PROFESSIONAL AND ASSOCIATE PROFESSIONAL CATEGORY; AND ONE IN SIX HAD A FIRST DEGREE OR ABOVE.

ΤΟ DEAL WITH THE PROBLEM, HONG KONG IS EXPANDING EDUCATION AND VOCATIONAL TRAINING RAPIDLY TO INCREASE THE OUTPUT OF LOCAL TALENT.

THE NUMBER OF DEGREE GRADUATES PRODUCED BY THE TERTIARY EDUCATIONAL INSTITUTIONS IN HONG KONG ROSE FROM 3,000 IN 1987 TO 7,100 IN 1991, AND BY 1996 THE PLANNED OUTPUT WILL BE OVER 17,000.

IN ADDITION, A LARGE NUMBER OF HONG KONG STUDENTS OVERSEAS RETURN AFTER COMPLETION OF THEIR STUDIES.

GRADUATING

STATISTICS SHOW THAT THE NUMBER OF FIRST DEGREE HOLDERS IN HONG KONG HAS RISEN FROM 180,000 IN 1986 TO 256,000 IN 1991.

PLANS ARE IN HAND TO DOUBLE THE OUTPUT OF DEGREE GRADUATES BY THE LOCAL TERTIARY EDUCATIONAL INSTITUTIONS BETWEEN 1990 AND 1995, CHAN SAID.

MR

/HE ADDED