TNAG-1886-FCO40-2677-Overseas-visits-by-Sir-David-Wilson--Governor-of-Hong-Kong---1989 — Page 12

The construction of a third University has begun. there are economic problems (inflation and an acute labour shortage) they are problems of success.

Britain's trade with Hong Kong is doing

If

unprecedently well. In 1988, our merchandise exports to

Hong Kong exceeded £1 billion. Our invisible earnings

were probably of about the same order. Hong Kong is the UK's third largest 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. 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.

Against this background, our main objectives for

Hong Kong can be summarised as follows:

(a) to continue to administer Hong Kong to the best of our ability until the transfer of sovereignty;

(b) to ensure that the Chinese Government stick to the assurances in the Joint Declaration about Hong Kong's future and to work steadily for the full implementation of that Agreement;

(c) to prepare Hong Kong for the change of sovereignty,

in particular by measures to enhance before 1997 the high degree of autonomy that Hong Kong is to enjoy after 1997 and by the development of representative government in the territory in line with the wishes of the community as a whole;