TNAG-1873-FCO40-2661-Relations-between-Hong-Kong-and-China-1989 — Page 185

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to a large extent guided by market forces as its free market sector has gained in importance and as its planned sector has become more responsive to both internal and external changes. Guangdong's economy has, to a considerable extent, ceased to be a planned economy, partly because of the increasing importance of its market sector and partly because of the planners' inability to undertake effective overall planning in face of the complicated economic problems that have arisen from the

(24) newly acquired hybrid characteristics of Guangdong's economy and the uncertainties caused by external factors.

17.

Reflecting the influence of market forces,

Guangdong has adopted an export oriented development strategy and paid only lip service to import substitution long before the introduction of the Coastal Region Economic Development Strategy advocated by

(25)

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This bias in favour of export

Zhao Ziyang promotion has enabled Guangdong to exploit the advantages it has. These include natural advantages, like its being near to Hong Kong and having a large supply of developable land, and advantages it has developed, like its large and fairly adaptable, though relatively unskilled, workforce and its having an economy which is flexible and responsive by China's standards. Also by adopting an export oriented development strategy, which results in a fairly narrow range of products for exports being manufactured, it has

(24) These arise from the co-existence of a state planned

sector and a market sector.

(25) This was formally endorsed by the Seventh National

People's Congress in March/April this year.

G.F. 326

༄བཅུ པ། རྩ བརྡ བ」!!,,、༩、--

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