2.
ir years after the signing of the Joint
Declaration, Hong Kong is as busy and dynamic as it has
ever been. In the past 3 years the economy has grown by
over 30%, and growth of 7-8% is expected this year.
Exports are booming.
The traditional entrepot trade has
revived and Hong Hong is now China's foremost trading
partner. The container port is the busiest in the world
in terms of throughput. The property market is buoyant;
there has been a rapid growth in hotel construction to
cater for an increased tourist demand. A new Exhibition
and Convention Centre, one of the most modern 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 number of ambitious
new infrastructure projects, including (subject to final.
decisions) a third harbour crossing and a new airport.
The construction of a third University has begun. I f
there are economic problems (inflation and an acute
labour shortage) they are problems of success.
3. Britain's trade with Hong Kong is doing unprecedently
In 1988, our exports to Hong Kong exceeded £1
billion. Hong Kong is the UK's third largest
well.
market in Asia; its people consume more British goods
per capita than anywhere else in Asia, and more than the
United States or Canada. British investment in Hong Kong
is growing steadily. We have a very substantial economic
stake in Hong Kong's future, in addition to our political
commitment to make a success of the Joint Declaration.
at
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