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DSR 11C
DRAFT SPEECH FOR LUNCH HOSTED BY CMA, FEDERATION OF HONG
KONG INDUSTRIES AND HKG CHAMBER OF COMMERCE
What a tonic it is to visit Hong Kong! The dynamism, the
energy, the bustle and the sense of purpose are immensely
Your stimulating. The achievements of this vibrant territory...
society
fill me with admiration for the intelligence and the,
industry of its population. They confirm my faith in free
enterprise as the only sure basis for economic and social
progress.
Even since my last visit in 1977 there have been changes
gramatic
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the New Towns in the New Territories, the Mass Transit
Railway for example. Hong Kong as an economy has also been
gaining in influence and sophistication.
acquired a new dimension as a major international financial
centre.
It has now
Yet Hong Kong has not had it easy. Like all of us you have
had to cope with the problems of world recession. You have
also had to deal with a constant stream of immigrants and
refugees into the Territory. Despite these problems you
have sustained a consistent annual growth rate of 8-10% - a
telling tribute to hard work and individual initiative.
The
Hong Kong also gives a lie to those who believe that
material progress in a society like this is achieved at an
unacceptable social cost. Many countries whose political
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