TNAG-2923-FCO40-4198-Visits-and-proposed-visits-by-Alastair-Goodlad--Minister-of--1993 — Page 125

CONFIDENTIAL

MR GOODLAD'S VISIT TO HONG KONG: 11

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12 OCTOBER 1993

BRIEF NO 17

THE ECONOMY

Points to make with the press

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Hong Kong's economy is doing well with 5.3% growth in 1992 and 5.5% growth projected for 1993.

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Can't think of anywhere else in the world where the Government has been able to increase expenditure, lower taxes and yet increase its reserves.

There are some concerns, such as the effect on Hong Kong of the monetary measures being taken in China and renewal of China's MFN trading status, but long term prospects for Hong Kong remain exceptionally good.

(Attached brief prepared by the Hong Kong Government)

hdg.econ.NAT

JEB

CONFIDENTIAL