XN000022-1994-01-06 — Page 4

لعبة

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THURSDAY, JANUARY 6, 1994

OF

THE REFORMS, HE ADDED, SHOULD HELP PROMOTE THE GATT-CONSISTENCY CHINA'S ECONOMIC REGIME AND FACILITATE HER APPLICATION

RESUMPTION OF GATT MEMBERSHIP.

FOR

HE SAID CHINA'S GATT MEMBERSHIP SHOULD REDUCE THE RISK OF ARBITRARY AND DISCRIMINATORY TRADE ACTIONS AGAINST CHINA WHICH WAS OF GREAT IMPORTANCE TO HONG KONG BEARING IN MIND THAT RE-EXPORTS TOOK TWO-THIRDS OF HONG KONG'S TOTAL EXPORTS AND THAT 80 PER CENT OF RE-EXPORT TRADE WAS CHINA-RELATED.

UP

ITS

THE REFORMS ALSO PROMOTED TRANSPARENCY AND TRADE CERTAINTY IN CHINA AND SHOULD BE WELCOME NEWS TO HONG KONG, GIVEN THE FACT THAT HONG KONG WAS CHINA'S LARGEST INVESTOR AND SECOND LARGEST TRADING PARTNER.

IN THE LIGHT OF THESE DEVELOPMENTS, HE EXPECTED THE MEDIUM TERM TREND GDP GROWTH RATE TO MAINTAIN AT FIVE PER CENT PER ANNUM AND THE CORRESPONDING TREND INFLATION RATE IN TERMS OF THE GDP DEFLATOR AT. 8.5 PER CENT PER ANNUM.

IMPORTANT BILL, THE

ON THE NEW AIRPORT, HE SAID THE GOVERNMENT TOOK AN STEP FORWARD WITH THE PUBLICATION IN THE FORM OF A WHITE AIRPORT CORPORATION BILL, ON JANUARY 3 FOR PUBLIC CONSULTATION.

COMMENTING ON WHETHER GOVERNMENT OFFICIALS WOULD BE GOING TO BEIJING AT THE INVITATION OF THE PRELIMINARY WORKING COMMITTEE FOR THE PREPARATORY COMMITTEE OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION TO BRIEF THEM ON THE BILL. HE SAID: "DURING THIS CONSULTATION EXERCISE WE WILL BE RESPONDING IN HONG KONG TO QUESTIONS PUT TO US BY HONG KONG PEOPLE.

"WE WOULD RESPOND ΤΟ MEMBERS OF THE PRELIMINARY WORKING COMMITTEE IN THE SAME WAY WE WOULD RESPOND TO OTHER GROUPS IN HONG KONG. THERE IS THEREFORE NO QUESTION OF US SENDING OFFICIALS ΤΟ APPEAR IN FRONT OF THE COMMITTEE IN PEKING OR ANYWHERE ELSE.

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HE SAID THERE WERE WELL-ESTABLISHED CHANNELS OF COMMUNICATION UNDER THE JOINT DECLARATION ON TRANSITIONAL ISSUES.

INCLUDING

ON AIRPORT SUBJECTS, THERE ARE FORMAL CHANNELS THE AIRPORT COMMITTEE AND THE AIRPORT CONSULTATIVE COMMITTEE ESTABLISHED UNDER THE MEMORANDUM OF UNDERSTANDING, HE SAID.

THE CHANNELS OF COMMUNICATION HAVE BEEN SET UP UNDER FORMAL INTERNATIONAL AGREEMENTS AND UNDERSTANDINGS REACHED BETWEEN PRESENT AND FUTURE SOVEREIGN POWERS.

"IT WOULD BE CONFUSING FOR THE PUBLIC, AND

COUNTER-PRODUCTIVE

TO THE TRANSITION, TO BLUR THESE ARRANGEMENTS WITH GROUPS WHICH DO NOT HAVE SUCH A FORMAL BASIS, HE SAID.

**

THE LEGISLATIVE COUNCIL

TE

IN ADDITION, WE DO OF COURSE HAVE WHICH FOR AIRPORT ISSUES HAS ITS OWN SPECIALIST SUB-COMMITTEE.

HE ADDED THE GOVERNMENT HAD THIS WEEK STARTED DISCUSSING THE AIRPORT CORPORATION BILL WITH THESE GROUPS, AND MORE MEETINGS WOULD BE TAKING PLACE DURING THE CONSULTATION PERIOD.

/ON HONG