2
C
Amhe
Tice
shortly and is scheduled for completion next summer. Jockey Club will meet total running costs for a year and riding costs for an indefinite period.
PUBLIC ESTATES WILL. HOUE TWO MTLLION PEOPLE BY 1978
Hong Kong Housing Authority's 1976-77 annual report announced the completion during the year of 9,620 flats in five estates housing 68,000 people, Total number of people rehoused topped 80,000. The cumulative total number of people housed in public housing estates at the end of March 1977 was 1,861,891.
3y June 1978, the figure is expected to exceed two million.
HONG KONG'S SILK WEAVING INDUSTRY REVIVES
In line with the increased demand for silk garments in worl markets, the Hong Kong silk weaving industry is undergoing a resurgence. Observers point out that manufacturers are becoming increasingly aware of the need for diversification within Hong Kong's textile end garments industry which has been considerably hampered by quotas and import restrictions. Hong Kong Trade Development Council believes that since silk fabrics and garments are not subject to quota, they can provide a much needed boost to exports of Hong Kong-made clothing.
-
FOURTH BOG MISSION TO MIDDLE EAST
The fourth dong Kong de mission to the Middle East, organised by Hong Kong Trade Development Council (TDC) in conjunction with the Indian Chamber of Commerce, began its business discussions with Arab merchants in Kuwait and will later call at Beirut and Cairo. "In the past three years, the TDC has sent 11 business groups to the Middle East and has been developing there en average export growth rate of 38 per cent between 1971 and 1977," TOC Executive Director Mr. Len Dunning said. "The area share of Hong Kong's total exports rose in this period from 1.7 per cent in 1971 to an estimated four or five per cent this year, " he added.
MPs 0B3ERVE DEVELOPM TITS
DIN NEW TOWN
Two visiting British MPs, Mr. Lan Wrigglesworth and Mr. Kenneth Weetch, expressed satisfaction on seeing development programmes under way at Shatin new town, in Hong Kong's New Territories. They visited Lok Yuen estate, the first of 12 public housing estates planned for Shatin to house 50 per cent of the projected population.
HONG KONG BUK OPENS BRANCH IN AMSTERDAM
Hong Kong and Shanghai Bank has opened a branch in Amsterdan. According to the bank's announcement, the branch will serve the large Chinese community in that city and facilitate trade between the Netherlands and the Far East. Hong Kon trade with the Netherlands totalled K1,250 million (147,058,800) in 1976, thus making it an important trading partner.
Exchange rate used in this bulletin 21 HK28.5 (This is for illustrative purposes only.)
#