TNAG-2728-FCO40-3934-Hong-Kong-elections-proposed-functional-constituencies-1993 — Page 58

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ARGUMENTS AGAINST

PROPOSED FUNCTIONAL CONSTITUENCIES FOR (I) CHINESE ENTERPRISES ASSOCIATION; AND (II) INSURANCE

Annex E

Chinese Enterprises Association FC

Fully agree that Chinese enterprises play substantial and important role in Hong Kong's economy.

But this is not an argument for what we would call a

"national" FC.

If we were to follow the Chinese

side's logic, should we not also create separate FCs

for, say, Japanese enterprises which is the largest

external investor in Hong Kong's manufacturing industries

31.9% as of 1991, as opposed to China

(10.9%); [or US enterprises which was Hong Kong's largest domestic export market (27.6% share in 1992,

as opposed to China's share of 26.5%)] on account of their contribution to Hong Kong's economy?

In Hong Kong, all investors and enterprises are

treated in the same way, and subject to the same

regulations. There is no distinction whatsoever on

the basis of nationalities. It is this philosophy, equal treatment for all, which makes Hong Kong's

economy SO successful. Proposal of the Chinese side.

goes against this philosophy. It also goes against

the principle that FCs are to represent major economic

and professional groups, and not "national" interests.

G.F. 316

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