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DSR 11C (Revised 5/87)
Investment in Hong Kong, particularly in plant and
machinery, has grown substantially.
The economic
interrelationship between Hong Kong and China has
developed at a rapid pace: Hong Kong is now China's
foremost trading partner and there is extensive
co-operation between Hong Kong firms and enterprises in
China, particularly its southern provinces. Hong Kong is
now the most important source of outside investment in
China, accounting for some two-thirds of such investment.
The property market is buoyant; there has been a rapid
growth in hotel construction in response to growing
tourist demand. A new Exhibition and Convention Centre,
one of the most advanced in the world, has been recently
completed and should enhance Hong Kong's role as a
regional business centre. The Hong Kong Government are
embarking on a large number of ambitious new
infrastructure projects; and the construction of a third
University has begun.
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Today, Hong Kong is as dynamically successful as
has ever been; and its people are enjoying an
unprecedented level of prosperity. Hong Kong has
undoubtedly benefited from the generally favourable
conditions of the world economy and from the open door
policy of the Chinese Government. By providing a clear
and detailed blueprint for Hong Kong's future beyond 1997
and by creating the conditions in which economic
relations between Hong Kong and China have been able to
develop rapidly, the Joint Declaration has also
contributed to this success.
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