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Having mentioned China, I must just touch on the question that is asked by many business visitors to Hong Kong: what about 1997 when Hong Kong will be returned to China as a Special Administrative Region? Is that prospect affecting business confidence? My own response is to point to Hong Kong's continuing growth and its expanding trade. I also point to the investment that is taking place here.
Of course some people do feel uncertain and because of it some are leaving Hong Kong. However, though the numbers have increased and it is certainly a problem, emigration has been a fact of life in Hong Kong for more than 20 years. Past emigration was responsible for the large Chinese communities in the United States, Canada and Britain. Quite a few of the more recent leavers have obtained a foreign passport and then returned to Hong Kong.
Well, business is what Hong Kong is all about and there is no doubt it is being carried on at an extraordinary rate. I hope that what I have said has left you with that impression. But to sum up, let me say that: British companies are showing more interest in Hong Kong. We are selling more. There is business for smaller companies and for larger ones. The business opportunities in the territory are increasing across the board. And so are the opportunities through Hong Kong to China.
REH/mcs
17.4.89
J
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