XN000022-1992-10-07 — Page 20

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WEDNESDAY, OCTOBER 7, 1992

"THEY CUT GROWTH, DESTROY JOBS AND RAISE PRICES.

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TRADE PROSPECTS

"I HOPE

CHINA AND THAT

THE USA CAN

THEIR SETTLE IN A WAY WHICH ENHANCES RATHER THAN DIMINISHES DIFFERENCES FOR THE GLOBAL ECONOMY, HE SAID.

**

THE GOVERNOR SAID THE SUCCESS OF THE ECONOMY WAS CENTRAL TO ALL OUR HOPES.

"OUR PRESCRIPTION FOR PROSPERITY IS STRAIGHTFORWARD.

"WE BELIEVE THAT BUSINESSMEN NOT POLITICIANS OR OFFICIALS THE BEST COMMERCIAL DECISIONS.

MAKE

"WE BELIEVE THAT LOW AND PREDICTABLE TAXES ARE THE BEST FORM OF INVESTMENT INCENTIVE.

A

NOT OUTPACE SOUND,

FAIR

'WE BELIEVE THAT GOVERNMENT SPENDING MUST FOLLOW ECONOMIC

WE GROWTH.

BELIEVE IN COMPETITION WITHIN FRAMEWORK OF REGULATION AND LAW, HE SAID.

гі

GOVERNOR SETTING UP A BUSINESS COUNCIL

THE GOVERNOR, THE RT HON CHRISTOPHER PATTEN, SAID TODAY (WEDNESDAY) HE IS ESTABLISHING A GOVERNOR'S BUSINESS COUNCIL AND WAS INVITING DISTINGUISHED MEMBERS OF THE BUSINESS COMMUNITY TO JOIN IT.

IN HIS POLICY ADDRESS TO THE LEGISLATIVE COUNCIL, MR PATTEN

SAID THE COUNCIL'S MANDATE WOULD BE TO ADVISE HIM ON:

*

*

FIRST, HOW TO KEEP HONG KONG THE MOST BUSINESS-FRIENDLY LOCATION IN ASIA;

SO

SECONDLY, THE IMPACT OF GOVERNMENT POLICIES ON BUSINESS, AS TO MODIFY OR ABOLISH THOSE THAT STAND IN THE WAY OF PROGRESS;

THIRDLY, HOW TO MAXIMISE THE POTENTIAL OF ALL OUR RESOURCES AND OF OUR POSITION AT THE HEART OF THE ASIAN ECONOMY; AND

*

FOURTHLY, INDUSTRY,

MR

HOW BEST то PROMOTE HONG KONG'S TRADE AND INCLUDING INWARD INVESTMENT.

PATTEN SAID HE WANTED TO MOBILISE THE VERY BEST TALENT AND EXPERIENCE THAT HONG KONG HAD TO OFFER TO ADVISE HIM ON HOW BEST HONG KONG COULD SUSTAIN ITS ECONOMIC GROWTH, NOW AND INTO THE NEXT CENTURY.

"DESPITE OUR TRACK RECORD OF SUSTAINED CANNOT TAKE FUTURE SUCCESS FOR GRANTED, HE SAID.

TT

ECONOMIC

GROWTH, WE

HONG KONG'S POSITION WAS STRONG; BUT IT WAS NOT IMPREGNABLE.

/"I AM

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