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505 88 Shanghai Will Further Open Up to the World1 June 12, 1990 Ideeply appreciate your accepting my invitation to attend this symposium. On this visit to Hong Kong, the first [aim] of the Shanghai Economic Delegation is to study and borrow from Hong Kong’s experiences in development, and the second [aim] is to promote mutual understanding between Shanghai and Hong Kong and develop cooperation between us. Over the past few days, we’ve called on many old friends and visited them at home to thank them for their outstanding contributions to economic cooperation between Shanghai and Hong Kong. We’ve also made many new friends—as soon as we met, we felt as if we had known each other for a long time. We had frank and open conversations from which I greatly benefited. The day we arrived in Hong Kong, a certain local newspaper published an editorial that ended with the question: “In coming here from so far away, what benefits, Mr. Mayor, do you bring to Hong Kong?” I think my answer might be: “Sir, why must you speak only of benefits? It is sufficient to speak of friendship , cooperation, and mutual good.”2 Only the fostering of understanding can lead to friendship, only friendship can lead to trust, only with trust can there be cooperation, and cooperation must be good for both sides. Our Shanghai Economic Delegation comes to Hong Kong sincerely hoping to find understanding , friendship, and cooperation. That is our purpose in holding this symposium . My speech has already been distributed to you and I think there’s no need to read it aloud. In the wake of our contacts of the past few days, I’d like to say a few additional words about several issues you’re all concerned about. 1. On June 8–15, 1990, Zhu Rongji led the Shanghai Economic Delegation on a visit to Hong Kong, where he delivered this speech at the symposium on “Shanghai’s Economic Development in the 1990s—Prospects for Economic Cooperation between Shanghai and Hong Kong.” 2. Translator’s note: this is a paraphrase of a conversation between Mencius and King Hui of Liang. The king asked, “In coming here from so far away, what benefits, old man, do you bring my kingdom?” The latter replied, “Sire, why must you speak only of benefits? It is sufficient to speak of what is right and good.” Zhu_Shanghai Years_1987-1991_hc_9780815731399_i-xii_1-620.indd 505 12/26/17 12:01 PM 506 Shanghai Will Further Open Up to the World The First Issue: Pudong Many friends have asked, given all the unfavorable factors in the domestic and international situations, will you be able to realize your very ambitious plan to develop Pudong? Or will this turn out to be nothing more than a fleeting dream by the Huangpu River? To answer this question, I’d like to make three analytical points. 1. Effect of Economic “Sanctions.” The so-called unfavorable international situation refers to the economic sanctions imposed on us, which indeed have had some effect. For example, the World Bank has many cooperative relationships with Shanghai and has given us great support for our infrastructure construction . However, several hundred million dollars’ worth of agreements have now been temporarily postponed. But you should all see that the sanctions will ultimately end and international economic cooperation will ultimately continue to develop, because this is beneficial for both cooperating sides and beneficial for world peace. At the same time, we’ve always based our country’s development and construction on our own efforts. We are fully confident in our ability to develop Pudong with our own hands and to revitalize Shanghai. International cooperation can speed up our development, but if this is somewhat lacking, at most it will just slow things down by a few years. I’m very optimistic about our prospects. As for the unfavorable domestic factors, these are nothing more than temporary difficulties resulting from the current rectification and monetary tightening . However, China’s economy, which includes Shanghai’s economy, is gradually improving, even though this improvement is slow. Right now, Shanghai is very solidly restructuring its industries, updating its products, upgrading the technologies at its enterprises, and strengthening management. I believe that after a while, our economy will take a fundamental turn for the better. Many friends also wonder whether our domestic political situation can remain stable and whether we can protect the interests of investors. I think that after last year’s political...


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