The action we took, hard as it was at the time, is inevitably mentioned as evidence of a perceived departure from non-interventionist capitalism. We knew this would be the case and we vehemently disagree with those who put forward this argument. But, faced with the prospect of a market set to implode through manipulative activities, I decided it was better to have a market in which to invest than to have no market at all. I'm sure all of you here in the U.S., more than anywhere, would appreciate that. Last June, the company, operating independently of the government, announced that it planned to launch the disposal programme in the form of a unit trust product designed to track the stock exchange's Hang Seng Index.
Work is underway to prepare for the launch of that product.
The unit trust is the first step to achieving that goal. For the past two years, Hong Kong people have found the going rather tough. And, as I said recently, if you look closely through the haze generated by a healthy plural society, you will find a confident city, dedicated people, and a free community passionately committed to the rule of law.