CHINA
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Times Staff and Wire Reports
Hong Kong Will Remain Financial Hub: Shanghai will not replace the British colony as the international financial hub for the Far East after Beijing assumes sovereignty over Hong Kong in 1997, a senior Chinese official said. The New China News Agency quoted Gao Shangquan as saying that “Hong Kong’s position as a world financial center will not be replaced.” Gao is deputy head of the China Society for Research on Restructuring the Economic System.
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