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6.
In the circumstances, the figures I am giving you,
although we believe them
give the full picture.
in providing some
them to be accurate, possibly do not
1
But nevertheless they are important
indication of the overall position in
relation to United Kingdom investment in the territory.
7.
Hong Kong has traditionally been an open economy.
It still is. Hong Kong's role as an international
commercial and financial centre has long enabled overseas
firms to develop a substantial stake in the territory's
economy. In 1987, about one-fifth of Hong Kong's Gross
Domestic Product was attributable to foreign capital, and
As I have already
it has probably gone up since then.
indicated for many years United Kingdom companies have been
a prominent feature of the local business scene.
8.
On the basis of the latest available detailed.
breakdown
of United Kingdom trade figures, Hong Kong in
1988 was the United
the United Kingdom's largest Far East market after
Japan, and the fifth largest market outside Europe and
North America. In the 1980's, United Kingdom exports to
the territory grew by some 10.1% annually, as compared with
an annual increase in total United Kingdom exports of 8.7%
over the same period. Also in 1988, 20% of Hong Kong's 200
professional associations and learned societies had direct
United Kingdom links.
/9.
In making
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