22.
(ii) Manufacturing
While the tertiary services
sectors of our economy sector, still the
have developed rapidly our manufacturing backbone of our economy and the main employer, has also grown, Diversification has taken place, in
and conditiona market to changing
The progressive
albeit at a slower rate.
response technology. recommendations of the Advisory Committee
has helped this procesв,
23.
should
changes
in
the
of implementation
on Diversification
That Committee recommended inter alia that Government
emphasia
on
the
promotion
of industrial
put more investment. Four overseas industrial promotion offices have in the United Kingdom, Japan,
accordingly been established
These
the Federal Republic of Germany and the United States. offices are equipped to identify, develop and maintain contact with overseas companies interested in establishing industrial either on their own or in joint facilities in Hong Kong, ventures with local industrialists.
24.
who
and tnose
It
not
interfere with market
Our entrepreneurs and industrialists work for them are experiencing difficult times. Our policy to intervene directly and forces, but the Government seeks to provide the infrastructure, the environment within the training of skilled manpower and
Our efforts in û which growth with stability can be achieved. number of sectors which contribute to a favourable environment for industry will be evident from later sections in this speech.
(a) The China Dimension
25.
!
In
terms
Other changes in our economy have been brought about of trade, by China's
of modernisation. programme China has moved up from being the second largest source of Hong Kong's imports to being the largest, overtaking Japan by a
9
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