The Hong Kong Association of Atlanta’s first formal event featured a luncheon address Wednesday, May 3, by the Honorable Barrie Wiggham, Hong Kong commissioner to the U.S., and a donation by the association of a $I,000 check to the Atlanta Chamber of Commerce for the Centennial Olympic Park downtown.
Mr. Wiggham assured the attendees at the Capital City Club event that Hong Kong’s economy will continue to grow at a healthy rate. It currently is increasing at 5.5%. he said, and is the eighth largest trading economy in the world.
Nor will Hong Kong’s open economy be restricted by the state’s incorporation in China in 1997, he added. Mr. Wiggham said that not a lot will happen to the Hong Kong economy when the British colony becomes a Special Administrative Region of the People’s Republic of China on July 1, 1997.
What we’re looking for is the maximum amount of continuity. he said. China will not swallow up Hong Kong. And Hong Kong will continue its policies of not having exchange controls or import duties, he said, with the Hong Kong dollar remaining fully convertible and pegged to the U.S. dollar as it has been since 1993.
Mr. Wiggham also said that Hong Kong’s high degree of autonomy will continue in diplomatic as well as financial areas, and that it will remain a contracted party of GATT as well as other international organizations.
The association was founded in December. For more information, call Eugene J. Hanratty III at (404)238-0875; fax (404) 239-1727.