TNAG-1859-FCO40-2634-Legislative-Council-of-Hong-Kong-memoranda-and-minutes-of-me-1989 — Page 81

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(a) Hong Kong as a Regional Centre

28.

growing

The

Asia-Pacific

region

contains

the

fastest

in economies

the world. Ours is one of them.

60%

of our total trade is now with Asia and Australasia. And we

play

an

important

in role

building

up trade within the

of`

region. Goods going through Hong Kong from one part of the

region to another, not counting China, have grown by 45% in

the past year.

29.

Our

financial

services

has sector

also

become

in

regional

terms. Because of the

increasingly important

time difference, business can be done here when London and

New York are closed. We now have 135 overseas incorporated

banks in Hong Kong. 11 of these were given new licenses

this year. 12 overseas securities companies and commodities trading companies have also set up business here this year.

30.

Hong Kong has many advantages as a regional base

its location;

an efficient

+

communications; good

and

apolitical administration;

a

well-educated

and

an impartial system of justice;

efficient

workforce;

and all the

conveniences of a modern city. Add to this the magnificent

new

Convention

and Exhibition Centre

the largest in Asia

/- which

02'd ΣΕ

S'I'O TI:LI TT-OT-686T