15 -
Hong Kong's GDP had almost doubled in real terms since the Joint Declaration was signed; fiscal reserves had increased almost six-fold; exports by almost 330 per cent in real terms; and investment by over 120 per cent.
"Since I arrived, but not because I arrived, GDP has grown by almost a quarter and the reserves by a similar proportion," Mr Patten said.
He noted that this was part of a region-wide story and that Hong Kong had been specially fortunate to share in the fruits of China's economic revolution of the 1980s.
"That has been one of the most important developments, not simply for China and Asia but for mankind," the Governor said.
Hong Kong had invested in and built factories right across southern China, then helped to manage them.
It had provided much of the people, services, and ideas - as well as much of the money - for China's peaceful revolution.
"The benefits have flowed in both directions," Mr Patten said.
"China's success is Hong Kong's opportunity. That is the case today. It will be so even more as Hong Kong takes its place as the richest, most outward-looking and most modern city in China."
End
Government to ensure a smooth transition
The Government aims to ensure that a smooth transition is achieved through the full and faithful implementation of the Joint Declaration, the Governor, the Rt Hon Christopher Patten, said today (Wednesday).
However, a "smooth transition" was not an end in itself, said the Governor in delivering his 1996 Policy Address.
"What we want is a successful transition, which we would also like to be as smooth as possible," he said.
No comments yet.
Private notes are available after approval.