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The Chief Executive, Mr Tung Chee Hwa, said today he has appointed a Council of International Advisers, in order to reinforce Hong Kong's links with the international community.

The council, which would help the Government broaden its international commercial perspective, would hold its first meeting here in January, Mr Tung said in his Policy Address.

Its members include prominent personalities in the fields of finance, commerce and industry from all over the world.

He said that one of the reasons for Hong Kong's success was that citizens of so many nations had made their homes here, and the expatriate community contributed greatly to our economy and to our unique culture.

"We are determined to make this community more welcome in Hong Kong, and to remain the city of choice for multi-national companies wishing to establish a base in the Asia Pacific region.

"Recent figures show that 935 non-local companies, including some of the world s largest financial institutions have their regional headquarters in Hong Kong."

Mr Tung referred to the appointment of the Council when

speaking about "anchoring our fundamentals" after outlining steps to be taken to improve the economic climate, based on a commitment to maximising our use of innovation and technology and on a pledge to build on our traditional strengths.

He said the Government would work hard to achieve the objectives he had described. But the measures taken to stimulate growth could only take root if grounded in a stable foundation.

The most important fundamental element underpinning our future progress was the continual implementation of the "One Country, Two Systems" concept, in accordance with the Basic Law.

"It is essential that we all re-affirm our commitment to preserving these fundamentals, which are the basis of our success.

"I would like to state clearly that the Government will uphold the rule of law and protect the independence of the Judiciary; guarantee freedom of speech and of the press, and facilitate access to information; continue to manage our economy on a free-market basis within a regulatory framework which creates a 'level playing-field' for investors; maintain a strong stance against corruption; emphasise the importance of law and order; and preserve the international character of Hong Kong."

End/Wednesday, October 7, 1998

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