HONG KONG BUSINESS CONFIDENCE
The Hong Kong economy has emerged strongly from the recession. During 1983 exports were 26% higher than in 1982. This recovery has continued in 1984 with even more impressive increases. The
underlying strength of the Hong Kong economy is quite remarkable.
The announcement by Jardine Matheson that a new holding company in
the group would be established in Bermuda has had no marked effect
on confidence. It is worth noting that the company has gone out of its way to emphasise its continuing commitment to the territory.
It is true that the Hang Seng Index has recently reflected a degree of political uncertainty. But it still stands today over 200 points
higher than in September 1983. It is not the only market to have
declined recently. It is well-known that the Hong Kong market is
far more volatile than most of those in Western countries.
A reasonable degree of certainty about what the future holds is a
most important element in business foundations. That is why we are working for an agreement with the Chinese Government.
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