XN000022-1993-07-20 — Page 12

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TUESDAY, JULY 20, 1993

THE

"HONG KONG'S CLOSE FAMILY AND CULTURAL CONNECTIONS WITH MAINLAND MADE IT ONLY NATURAL THAT ITS ENTREPRENEURS SHOULD BE THE FIRST TO SEIZE THE OPPORTUNITIES PRESENTED BY CHINA'S NEW OPENNESS," MR MILLER SAID.

"THE SIMPLEST MEASURE OF BOTH THEIR BOLDNESS AND THEIR SUCCESS IS THE FACT THAT THEY NOW EMPLOY SOME THREE MILLION WORKERS IN ENTERPRISES IN GUANGDONG PROVINCE ALONE, HE SAID.

"

BESIDES, HONG KONG ALSO HAS STRONG EXTERNAL LINKS WITH OTHER PARTS OF THE WORLD.

"THE LINKS FIRST FORGED BY TRADE HAVE BEEN REINFORCED, AS MANY KONG ENTERPRISES HAVE OUT-GROWN THE TERRITORY AND GONE MULTI-

HONG NATIONAL.

"IT ALSO HAS THE LINKS WHICH COME WITH OVERSEAS EDUCATION AND THESE ARE PARTICULARLY STRONG WITH UNITED STATES AND CANADA.

HAVE

++

SMALL WONDER THEREFORE THAT BUSINESSMEN IN THOSE COUNTRIES LOOKED TO THEIR NETWORK OF FRIENDS IN HONG KONG TO HELP THEM OPEN DOORS IN CHINA," MR MILLER SAID.

TURNING TO THE OTHER INTANGIBLE ASSET, EXPERTISE, WAS MUCH HARDER TO QUANTIFY, BUT IT IS NONETHELESS REAL.

IT COMES IN SEVERAL FORMS.

HE SAID IT

EXPERTISE

IT COMES IN THE FORM OF TECHNICAL AND MANAGERIAL WHICH CHINA SO BADLY NEEDS TO ENABLE IT TO ADJUST ΤΟ MORE MARKET- ORIENTED AND HIGHER-TECH MANUFACTURING PROCESSES.

THERE ARK SOME 50,000 HONG KONG TECHNICIANS AND MANAGERS CURRENTLY DEPLOYED INSIDE CHINA.

HONG

IT COMES IN THE FORM OF BUSINESS AND FINANCIAL SERVICES, KONG HAS CARVED A NICHE FOR ITSELF IN PUTTING TOGETHER THE FINANCING FOR ENTERPRISES INVOLVING A MAINLAND COMPONENT.

IT COMES IN THE FORM OF SYSTEMS AND OPERATING PROCEDURES. KONG'S TRANSPORTATION AND COMMUNICATIONS SYSTEMS PROVIDE A WORKING MODEL FROM WHICH THE MAINLAND CAN LEARN AS IT GRADUALLY DISMANTLES UNWIELDY STATE-OWNED MONOPOLIES.

HONG

AND

IT CONES IN THE FORM OF A SOPHISTICATED FINANCIAL COMMERCIAL INFRASTRUCTURE. THE MAINLAND 18 ABLE TO LEARN FROM THE WAY SUCH SERVICES OPERATE IN HONG KONG IN DESIGNING THEIR OWN SYSTEMS REGULATORY STRUCTURE.

AND

FINALLY, IT COMES IN THE FORM OF COMMERCIAL SAVVY. HONG KONG HAS BECOME THE DEAL MAKER FOR MANY FOREIGN ENTERPRISES LOOKING FOR ENTRY INTO THE CHINA MARKET.

NOTING THAT THESK DEVELOPMENTS HAD BEFN BUSINESS-LRD AND NATURAL DEVELOPMENTS, HE SAID THE GOVERNMENT'S ROLE WAS THAT OF A FACILITATOR, ENSURING THAT NOTHING IMPEDED DEVELOPMENT OF THE ECONOMY.

/GOVERNMENT'S STRATEGIC