XN000022-1992-11-11 — Page 3

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WEDNESDAY, NOVEMBER 11, 1992

SPEECH BY THE GOVERNOR, THE RT HON CHRISTOPHER PATTEN AT THE P & O DINNER AT THE H.K.C.E.C. ON NOVEMBER 10, 1992

THE REPULSE BAY IS A TRULY MAGNIFICENT SHIP. I SAW HER BRIEFLY IN THE GAPS THAT WE CAN SEE FROM GOVERNMENT HOUSE THROUGH THE BUILDINGS, BETWEEN AS IT WERE NORMAN FOSTER AND I.M. PEI, AND SINCE PRINCE CHARLES ISN'T HERE I WON'T SAY ANY MORE ABOUT THAT; BUT I SAW HER STEAMING GRACEFULLY INTO THE HARBOUR THIS MORNING, HER RED ENSIGN FLYING PROUDLY AT THE STERN, A SYMBOL OF P & O'S ENDURING CLOSE LINKS WITH HONG KONG, AND I MUST SAY I AM DELIGHTED TO BE ASSOCIATED WITH HER FORMAL NAMING HERE BY MY WIFE IN HONG KONG.

LIKE HONG KONG, SHE IS ALREADY A RECORD BREAKER. THE LARGEST CONTAINER SHIP FLYING THE RED ENSIGN AND IT'S THEREFORE FITTING THAT SHE SHOULD BE NAMED IN THE BUSIEST CONTAINER PORT ANYWHERE IN THE WORLD.

THE REPULSE BAY WILL CARRY WITH HER THE NAME AND SPIRIT OF HONG KONG WHEREVER SHE GOES. THE SHIP COULD HARDLY BE BEGINNING HER WORKING LIFE AT A BETTER TIME. HERE IN HONG KONG WE STAND, AS ALL OF US KNOW, AT THE EPICENTRE OF THE FASTEST GROWING ECONOMIC REGION IN THE WORLD. OUR OWN HARBOUR, WHICH FIRST INSPIRED SEE-GOING MERCHANTS A CENTURY AND A HALF AGO REMAINS THE FINEST DEEP WATER PORT ANYWHERE IN THE WORLD.

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TODAY AN OCEAN-GOING SHIP ENTERS OF LEAVE ITS WATERS EVERY MINUTES. MOST OF THEM ARE CONTAINER SHIPS LIKE REPULSE BAY LOADING OR UNLOADING AT THE KWAI CHUNG CONTAINER PORT, WHICH HAS NOW SURPASSED SINGAPORE AS THE BUSIEST IN THE WORLD.

THE TRADE THAT PASSES THROUGH OUR HARBOUR COMES AND GOES ΤΟ PORTS RIGHT ACROSS THE GLOBE. BUT MUST OF THE CARGO WE HANDLE IS GOING TO OR COMING FROM MUCH CLOSER TO HOME, ALONG THE COAST OF SOUTHERN CHINA. AND IT IS ACROSS THE BORDER IN SOUTHERN CHINA WHERE FREE MARKET ECONOMICS ARE BLAZING A TRAIL IN THE MOST REMARKABLE ECONOMIC REVOLUTION OF MODERN TIMES.

IT IS THOSE DEVELOPMENTS IN THE PEARL RIVER DELTA AND BEYOND THAT ARE HELPING TO DRIVE GROWTH IN HONG KONG AND IN OUR OWN CONTAINER PORT. THE ECONOMY OF GUANGDONG, WITH A POPULATION OF 63 MILLION PEOPLE, BIGGER THAN BRITAIN, BUT ONLY A FRACTION OF THE MASSIVE PEOPLE'S REPUBLIC OF CHINA; THE ECONOMY OF GUANGDONG HAS GROWN BY 13% EACH YEAR OVER THE PAST TEN YEARS SOME 90% OF THE GOODS RE-EXPORTED THROUGH HONG KONG ARE DESTINED FOR OR ORIGINATE IN CHINA.

HONG KONG IS SET TO CONTINUE AS THE ECONOMIC POWERHOUSE OF THE REGION. FOR A START WE ARE DETERMINED TO BUILD FOR TOMORROW то MEET THE NEEDS OF THE TRADE BOOM WE ARE SEEING TODAY. WE ARE ALREADY BUILDING HONG KONG'S EIGHTH CONTAINER TERMINAL AT STONECUTTER'S ISLAND. AND WE ARE PLANNING FOR THE NINTH ON TSING YI AND THEN THE TENTH ON LANTAU.

BY THE SUMMER OF 1997, HONG KONG'S PORT WILL BE ABLE TO HANDLE OVER 10 MILLION TWENTY FOOT EQUIVALENT UNITS, AS I THINK THEY ARE KNOWN EVERY YEAR. WE ARE, TO PUT IT IN TERMS THE REST OF US WOULD UNDERSTAND, BUILDING THE EQUIVALENT OF A NEW OAKLAND OR SEATTLE YEAR THROUGH TO THE TURN OF THE CENTURY.

EVERY

/OUR PORT