The discussions provide an excellent foundation for our new relationship and a long agenda for those of us here to carry out with our Hong Kong counterparts. Let's now look at the relationship and how it can develop. Hong Kong continues to be an important international hub and a base for the development of international trading institutions. Revised estimates indicate that about 50,000 U.S. citizens now live in Hong Kong. That means the American community here has doubled over the past five years.
Investment is also up.
The U.S. Department of Commerce has revised the 1995 figures for cumulative U.S. direct investment here upwards to 14.2 billion U.S. dollars. Preliminary figures for 1996 show a 13 percent increase, to 16 billion U.S. dollars. And, on top of that we have tens of billions of dollars invested here through Hong Kong's financial markets and funds. On the official level that I represent, the foundations of this renewed friendship are all in place. Our Consulate General is operating in a newly renovated building, which was rededicated on July 1 by Secretary of State Madeleine Albright.