TNAG-1437-FCO40-1921-Constitutional-development-in-Hong-Kong-1986 — Page 76

DEC 31 85 17:46 GIS HK

P.2

Date:

30.12.85

Time:

9.35

-

10.45 a.m.

Reporter:

RG/2

1

2

3

4

6

7

४

9

10

11

12

13

14

15

16

17

18

19

20

2 2 2 2

21

22

23

24

25

26

2 2 2 2 2 2

29

27

28

We have also, in parallel with that

I think, coped with some enormous problems in the banking and property field. We've coped with 0.T.B., we've coped with Carrian and Hang Lung, "and with a hangover of over-investment in the

property sector. And now, I suppose, during 1986 and in the years

ahead, we can look forward to perhaps, a better regulated, better

managed financial and banking sector, fewer shocks of that kind, and

also a more restrained property sector.

At the same time, our trade and industry, because of the down-turn in overseas economies, and because

of the protectionism in North America, is having to struggle for its

export markets, and is having to cope with a decline of interest in,

say the electronics sector. And that is common not only to Hong Kong

but it is common to many other economies, this down-turn in the

electronics sector and disinterest in it.

So we have problems' in the trade and

industry sector and we have got, obviously, to increase our efforts on all fronts in this sector, in order to keep Hong Kong's trade and

And this means that industry not only alive and well, but thriving.

really we have to start at the basic level, at the basic level of

education, the development of our technical institutes, our vocational training and our polytechnics. And of course, the decision to build a third university is of relevance and significance to this effort to keep Hong Kong's trade and industry as a very important sector of the

So that's the educational level.

economy.

Then there are the continued thrust

30

31

32

33

34

35

of the Trade Development Council. Perhaps looking again at its

programmes of trade development and promotion. The Hong Kong Productivity Council, The Hong Kong Management Association, all these are important aspects of the effort to keep our trade and industry

thriving.

36

VERBATIM REPORTERS

HONG KONG