XN000022-1992-10-16 — Page 24

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FRIDAY, OCTOBER 16,

1992

HK TO REMAIN AN OPEN, LOW-TAX ECONOMY

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THE SECRETARY FOR TRADE AND INDUSTRY, MR T H CHAU, SAID TODAY (FRIDAY) THAT HONG KONG WOULD REMAIN AN OPEN, LOW-TAX ECONOMY IN WHICH BUSINESSMEN HAD THE FREEDOM TO FOLLOW THEIR OWN SOUND COMMERCIAL SENSE, AND TO REAP THE BENEFITS OF THEIR GOOD DECISION.

SPEAKING AT THE NATIONAL CONVENTION OF THE HONG KONG JUNIOR CHAMBER OF COMMERCE, MR CHAU ELABORATED ON ASPECTS OF THE GOVERNMENT'S AGENDA RELATING TO BUSINESS AND THE BUSINESS ENVIRONMENT IN HONG KONG AS OUTLINED IN THE GOVERNOR'S POLICY ADDRESS.

THE GOVERNOR HAD STRONGLY RE-AFFIRMED THE GOVERNMENT'S LONG- STANDING COMMITMENT TO MAINTAINING A PRO-BUSINESS ENVIRONMENT IN HONG KONG - A POLICY OF "MINIMUM INTERFERENCE AND MAXIMUM SUPPORT", MR CHAU SAID.

IT MEANT THAT THE GOVERNMENT WOULD DO ALL IT COULD TO ENSURE THAT HONG KONG REMAINS COMPETITIVE AS AN EXPORTER TO THE WORLD'S MARKETS AND AS A PLACE TO DO BUSINESS, HE SAID.

NOTING THAT MR PATTEN HAD LAID DOWN A NUMBER OF KEY PRINCIPLES UNDERPINNING GOVERNMENT POLICY IN HIS SPEECH, MR CHAU SAID THE LIST WAS THAT HONG KONG MUST CONTINUE TO GENERATE THE SUCCESS WHICH HAD BEEN THE FOUNDATION OF ITS ACHIEVEMENTS PAST DECADES.

"IN TALKING ABOUT THE ECONOMY, THE GOVERNOR MADE TWO

HE SAID.

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FIRST ON ECONOMIC OVER THE

POINTS,"

**THE FIRST IS THAT IT IS BUSINESSMEN AND NOT POLITICIANS AND OFFICIALS - WHO MAKE THE BEST COMMERCIAL DECISIONS. IN OTHER WORDS, HONG KONG OWES ITS ECONOMIC STRENGTH TO THE DYNAMISM AND VIGOUR OF ITS ENTREPRENEURS.

"THE SECOND IS THAT IT IS ECONOMIC SUCCESS WHICH ENABLES US TO AFFORD THE STANDARDS OF PUBLIC SERVICE TO WHICH PEOPLE RIGHTLY ASPIRE," MR CHAU ADDED.

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