XN000022-1996-02-01 — Page 21

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This was stated today (Thursday) by the Secretary for Financial Services, Mr Rafael Hui, when he addressed the Investors' Forum of the Money World Asia, Hong Kong 1996 Exhibition at the Hong Kong Convention and Exhibition Centre.

Mr Hui said this would be possible as long as businessmen continued to play their part and held fast to those values, beliefs and rules of the game that had made Hong Kong so successful and had enabled their businesses to flourish.

"It has been said that Hong Kong is about business, as it was in the beginning, is now and ever shall be," Mr Hui said.

The Hong Kong Government was only too aware of this and had tailor-made its fiscal policies all along to encourage businessmen to come here and set up their business, he said.

"Our taxes are low, simple and clear. We believe in, and we practise small government: we religiously ensure that the growth rate of public spending does not outstrip the growth rate of the economy, and that there will still be sufficient resources to operate a high standard of public services," he said.

"The rule of law is staunchly upheld; there is freedom of movement of people, money, goods and services, and the playing-field is fair and level.

"The people in Hong Kong are only too aware of what make Hong Kong tick and have taken full advantage of the environment to do business."

The result was a highly prosperous Hong Kong with an economy which had out-performed so many others, Mr Hui added.

"In short, there is a strong consensus between the public and private sectors that the economy has to come first," he said.

"This ethos is very much entrenched. It is a way of life and philosophy to most individuals, not just businessmen.

"It would take much more than a change of sovereignty to change that attitude, and it won't just vanish into thin air. It is not just a flair for doing business; not just a desire to make money; it is also a deep appreciation of the essential ingredients, the essential values that are necessary to create the Hong Kong environment for doing business, and a readiness to embrace those values."