XN000022-1995-04-28 — Page 3

- 1.

European business leaders optimistic about HK's future

European business leaders have expressed optimism about the opportunities for doing business in and through Hong Kong in the future, according to the Chief Secretary, Mrs Anson Chan, today (Thursday).

"Businessmen are generally upbeat about the opportunities available, but they are concerned that the current basis on which business is conducted in Hong Kong, such as the rule of law and the level playing fields, will continue," she said.

Mrs Chan, who is currently visiting three European Union countries, has held a series of meetings with senior business people in Belgium, the Netherlands and Germany. Most of the companies represented at the meetings already had well- established operations in Hong Kong.

She said the Hong Kong Government also shared the concerns that had been raised by the businessmen. Discussions were being held with the Chinese authorities to ensure the necessary legislative and administrative framework was put in place before 1997 for the full and faithful implementation of the Joint Declaration and the Basic Law.

"It is vital for our future as one of the world's leading international cities that all the elements which go to make up our business-friendly environment remain as strong as ever after 1997," she stressed.

Mrs Chan emphasised the importance of the early establishment of the Court of Final Appeal as one of the measures being taken to ensure the rule of law. She hoped agreement could soon be reached with China on this issue, but time was fast running out to get the court operating before 1997.

The question of the Hong Kong dollar link with the US dollar was also raised during the meetings and Mrs Chan made it clear that the link would remain in place. This was a view which was also shared by Chinese authorities.

Mrs Chan said one of the main reasons for her visit, the first since she had been appointed Chief Secretary, was to bring European political and business leaders up to date with developments in Hong Kong, particularly on the economy and the progress being made on transitional issues.

"I also wanted to sound out business leaders on whether they had any concerns. If there were any areas where the government could do more to help them.