XN000022-1992-11-04 — Page 29

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27

WEDNESDAY, NOVEMBER 4, 1992

RESOURCES

"THUS INSTEAD OF REGULATIONS, CONTROLS AND SO-CALLED 'NATIONAL ·

MY GOVERNMENT PLANNING,

SEES ITS ROLE IN HUMAN

AND

90 INFRASTRUCTURAL DEVELOPMENT AS WELL AS OTHER DEVELOPMENTAL SUPPORT THAT THEY DO NOT LAG BEHIND OPPORTUNITIES; ENFORCEMENT OF EQUITABLE BUSINESS LAWS INCLUDING THOSE WHICH CONCERN THE PROTECTION OF

AND INTELLECTUAL PROPERTY; MAINTENANCE OF A LOW

STABLE TAX REGIME; ENSURING THE FREE FLOW OF CAPITAL AND GOODS; KEEPING ΤΟ PRUDENT FISCAL POLICIES AND SO ON, HE SAID.

11

MR HO SAID THESE INITIATIVES HAD PAID OFF.

"WE HAVE AN INTELLIGENT, VERSATILE AND

PRODUCTIVE AND HIGHLY

MOTIVATED WORKFORCE.

IN EVERY

SERVICES

"THERE HAS BEEN ACTIVE PRIVATE SECTOR PARTICIPATION LINE OF BUSINESS, INCLUDING FINANCIAL AND TELECOMMUNICATIONS OF THE HIGHEST STANDARDS. THIS AGAIN IN TURN REINFORCES ECONOMIC GROWTH AND PROSPERITY IN HONG KONG,

BUT

"IN SUM WE DO NOT OFFER MATERIAL INVESTMENT INCENTIVES WE TREASURE THE BUSINESS FRIENDLY ENVIRONMENT WHICH WE HAVE CREATED THROUGH THE UNIQUE ECONOMIC INSTITUTIONS OF HONG KONG," HE SAID.

A

GAVE MR HO SAID THE OPENING UP OF CHINA IN 1979

HONG KONG NEW IMPETUS IN ITS ECONOMIC DEVELOPMENT WITH HONG KONG BUSINESS CARRYING ON MANUFACTURING ACTIVITIES ACROSS THE BORDER IN GUANGDONG.

"THIS HONG KONG/GUANGDONG PARTNERSHIP NOW HAS A SUCCESSFUL

THAN TRACK RECORD OF MORE

13 YEARS, DRIVEN

BY ENTIRELY

ECONOMIC

FORCES, HE SAID.

中

MR HO SAID THE VERY CLOSE ECONOMIC RELATIONSHIP BETWEEN HONG KONG AND CHINA HAD PLACED HONG KONG IN

то A UNIQUE POSITION CONTRIBUTE TOWARDS CHINA'S ECONOMIC DEVELOPMENT WHILE FURTHERING ITS

OWN.

HE SAID THE OPENING UP OF CHINA AS A MARKET AND A SOURCE OF LABOUR AND LAND SUPPLY FACILITATED THE FURTHER UPGRADING AND TRANSFORMATION OF HONG KONG'S ECONOMY.

NOT ONLY ΤΟ

SUCH AS

"THE FLOURISHING RE-EXPORT TRADE BRINGS BUSINESS OUR IMPORT AND EXPORT TRADERS, BUT ALSO OUR SERVICING SECTOR TRANSPORTATION, COMMUNICATION, FINANCE AND EVEN TOURISM. THIS ENHANCES HONG KONG'S POSITION AS AN INTERNATIONAL COMMERCIAL AND FINANCIAL CENTRE.

"OUTWARD PROCESSING ACTIVITIES IN CHINA ALSO ALLOW COMPANIES TO CONCENTRATE THEIR EFFORTS IN MARKETING AND MORE CAPITAL INTENSIVE AND HIGHER TECHNOLOGY PROCESSING IN AND TO MOVE UP MARKET, HE SAID.

"F

HONG KONG DEVELOPING

HONG

KONG

/AS FAR