XN000022-1992-12-15 — Page 9

8

TUESDAY, DECEMBER 15, 1992

OF LAND AND

LABOUR,

"OUTWARD PROCESSING ACTIVITIES IN CHINA HAVE HELPED ALLEVIATING SOME OF THE CONSTRAINTS ON INDUSTRIAL DEVELOPMENT IN HONG KONG DUE TO SHORTAGE

HONG HONG IN MARKETING AND DEVELOPING COMPANIES TO CONCENTRATE THEIR EFFORTS

AND TECHNOLOGY,

VALUE-ADDED MANUFACTURING IN HONG KONG AND TO MOVE UP MARKET.

MORE CAPITAL INTENSIVE,

SHIFTING THE

HIGHER

AND

ALLOW

HIGHER

**

OF HONG KONG'S LABOUR INTENSIVE ASSEMBLY FOR HONG OPERATIONS INTO SOUTHERN CHINA HAS CREATED A STRONG DEMAND

ONLY IN PROVIDING A VARIETY OF KONG TO BECOME A SUPPORT BASE NOT

SUPPLY OF MATERIALS, PARTS, TECHNOLOGICAL SERVICES BUT ALSO IN THE COMPONENTS AND TOOLING, HE SAID.

KONG MR FUNG SAID THE RELOCATION PROCESS HAD ALSO ENABLED HONG

THEIR AND

WORKFORCE TO CONCENTRATE

THE MANUFACTURERS

ON

MORE DIRECTLY ΤΟ SKILL-INTENSIVE ACTIVITIES LOCALLY, THEREBY CONTRIBUTING THE SUBSTANTIAL IMPROVEMENT IN LABOUR PRODUCTIVITY,

11

BY 17 PER CENT

"INVESTMENT IN PLANT AND MACHINERY INCREASED AND LABOUR PRODUCTIVITY BY 11 PER CENT LAST YEAR," HE SAID.

"THUS NOTWITHSTANDING

THE CHANGES

ΤΟ HONG KONG'S ECONOMIC STRUCTURE WHICH HAS SEEN A REDUCED SHARE OF MANUFACTURING TO THE GDP, HAS NOT DECLINED AND THERE THE ACTUAL VOLUME OF INDUSTRIAL OUTPUT

HE ADDED. STILL EXISTS A VERY STRONG INDUSTRIAL BASE IN HONG KONG,

M

A GATEWAY BETWEEN THE GEOGRAPHICAL ADVANTAGE OF HONG KONG AS CHINA AND OTHER ECONOMIES IN THE ASIA-PACIFIC REGION WAS REFLECTED THE STARTLING GROWTH OF ITS RE-EXPORT TRADE.

"LAST YEAR, WE RE-EXPORTED GOODS VALUED AT THE REGION.

IN

$382.2 BILLION то

"GROWTH IN THIS RE-EXPORT TRADE IN THE LAST DECADE AMOUNTED

MR FUNG SAID. 31 PER CENT EACH YEAR AND SHOWS NO SIGNS OF ABATING,

то

TIE SAID THEY GREW AT ON DOMESTIC EXPORTS TO THE REGION,

AN REACH A AVERAGE ANNUAL RATE OF 14 PER CENT DURING THE LAST DECADE TO TOTAL OF $162.2 BILLION IN 1991.

IMPORTS TERRITORY'S

FROM THE

THE REGION WERE EQUALLY CENT DURING THE SIGNIFICANT, GROWING BY AN ANNUAL AVERAGE OF 18 PER LAST DECADE.

INDEED, CHINA IS OUR LARGEST TRADING PARTNER, WITH USA SECOND AND JAPAN THIRD.

COMING

"IN 1991,

ASIA-PACIFIC

ACCOUNTED FOR 78 PER CENT

OF

HONG

KONG'S TOTAL TRADE, MR FUNG SAID.

71

HONG KONG IS ALSO AN

IMPORTANT

LOCATION FOR FIRMS

WITH

AN

INTEREST IN ASIA-PACIFIC.

INFRASTRUCTURE AND CLOSE "TO TAKE ADVANTAGE OF OUR EFFICIENT

MANY ENTERPRISES CHOOSE TO SET TIES WITHIN THE REGION,

TIP THEIR REGIONAL HEADQUARTERS AND REPRESENTATIONAL OFFICES IN HONG KONG.

**

/AS AT