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Hong Kong success story continues beyond 1997
The recipe for success of Hong Kong's economy, which is enshrined in the Sino-British arrangements for the future, will continue beyond 1997, the Secretary for Financial Services, Mr Michael Cartland, said in London yesterday (Wednesday).
Speaking to about 90 representatives from financial and investment communities all over the world during a presentation at the Asian Companies Expo 95 in Earls Court, Mr Cartland said there were many reasons for confidence about the territory's future.
"For example, Hong Kong is very well placed economically and the market is booming. There is no exchange controls nor barriers to inward foreign investment. We have a stable and fully convertible currency.
"The market players themselves are already looking beyond 1997, taking longer term view and China also participate fully in Hong Kong's economy, indicating their recognition of our importance," he said.
Mr Cartland also believed that a commitment to the rule of law with a Common Law background, an independent judiciary and a determination to fight corruption were some of the important factors that contributed to the strengths of Hong Kong's economy.
Also taking part with the Hong Kong Government Office at the Expo's Hong Kong stand are the Hong Kong Stock Exchange and Hong Kong Futures Exchange.
More than 1,600 fund managers, representatives from investment companies and financial institutions all over the world are expected to attend the three- day Expo which provides opportunities for business leaders to have face-to-face contact with the senior management of Asian companies.
About 110 organisations from Australia, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore and Thailand are featured.
End/Wednesday, March 1, 1995
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