XN000022-1993-05-17 — Page 3

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MONDAY, MAY 17, 1993

SAID.

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"WE MUST BALANCE OUR ECONOMIC AND ENVIRONMENTAL BOOKS, HE

HONG KONG IS INVESTING OVER $7 BILLION IN A COMPREHENSIVE WASTE DISPOSAL STRATEGY AND CARRYING OUT AN AMBITIOUS BUILDING PROGRAMME OF SEWERS AND SEWAGE TREATMENT FACILITIES.

IN ADDITION, THE COMMUNITY 1S ENCOURAGED ΤΟ HELP PROTECT

THE ENVIRONMEN'T AND USE RESOURCES PROPERLY.

ΤΟ

"IF WE ARE TO BUILD A BETTER WORLD IN THE 21ST CENTURY, WE NEED MAKE SURE THAT TECHNOLOGICAL DEVELOPMENT WORKS FOR THE GOOD OF ALL, MR PATTEN SAID.

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"AND WE CAN ACHIEVE THIS AIM THROUGH CO-OPERATION, FLOW OF IDEAS AND INFORMATION AND FREE TRADE," HE ADDED.

THE FREE

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GOVERNOR'S QUESTION AND ANSWER SESSION AT TECHNOLOGY CONFERENCE

OF

FOLLOWING IS THE TRANSCRIPT OF THE QUESTION AND ANSWER SESSION THE GOVERNOR AT THE "HIGH TECHNOLOGY AND PROFITABILITY FOR 21ST CENTURY" CONFERENCE THIS (MONDAY) MORNING:

QUESTION:

(INAUDIBLE)

GOVERNOR:

ME TO DO SOMETHING MUCH EASIER THAN TO FORECAST WHAT HONG KONG WILL BE LIKE IN 150 YEARS TIME, THEY HAVE ASKED ME TO FORECAST WHAT EUROPE WILL BE LIKE IN 150 YEARS TIME WHICH IS OBVIOUSLY A MUCH MORE STRAIGHTFORWARD CHALLENGE. THE MAIN REASONS FOR HONG KONG'S ENORMOUS SUCCESS AS A COMMUNITY ARE, I THINK, FAIRLY CLEAR. FIRST OF ALL, OUR GEOGRAPHICAL POSITION, OUR POSITION AT THE HEART OF THE ASIA PACIFIC REGION, THE FASTEST GROWING ECONOMIC REGION IN THE WORLD, AND OUR POSITION, AS I SAID EARLIER, AS THE SWING-DOOR TO CHINA.

THE SECOND REASON FOR OUR SUCCESS IS THAT WE HAVE PURSUED FOR SOME YEARS, AND WITH ENTHUSIASM, FREE MARKET ECONOMICS; FREE MARKET ECONOMICS WHICH HAVE GIVEN US THE RESOURCES TO MAKE FOR INSTANCE INVESTMENTS IN WHAT ECONOMISTS CALL SOCIAL EQUITY PROGRAMMES PUBLIC HOUSING, HEALTH, EDUCATION

WHICH HAVE ENSURED THAT THIS IS A

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RESPONSIBLE SOCIAL MARKET ECONOMY.

/THIRDLY, THE