TNAG-1607-FCO40-22122-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1987 — Page 11

Specific points

10

19.

Turning now to points not yet covered

Mr. Stephen Cheong, Mr. Wong Po-yan and Mr. Ngai

Shiu-kit and Professor C.K. Poon have stressed the

I see

need for establishing closer links with China. There

is much food for thought here. There have been very

significant growth in the economic and trade relations

between Hong Kong and China in recent years. This has

been largely the result of the mutual needs of the two

economies. I agree it is consistent with the spirit of

the Advisory Committee on Diversification recommendation

that the Government should try to identify more closely

opportunities for cooperative effort. The rapid growth

in economic links with China has provided new opportunities

for our industry, for example, in certain outward processing

activities to take advantage of lower costs in China.

such developments natural as a result of economic forces and

mutually beneficial to both economies. As the suggestions

that have been raised involve two-way technology transfers,

there will be much scope for further expansion of such

economic relations along the present pattern, despite

the fact that Hong Kong and China will remain as separate

economic entities with different system. Indeed, I hardly

need to stress that the greatest contribution Hong Kong

industry can make to China's development and modernisation

is to retain and enhance our renown ability to adapt

quickly to changing circumstances.