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CODE 18-77
Mr Ham
Mr Clift
۱۶۰ من
HKReference 013/1
RECEIVED IN REGORY NO. 91 2 1 OCT 1983
DESK OFFICER
INDEX
PA
Ac
10
THE GOVERNOR'S LEGCO SPEECH
1. I have now had time to look through the speech given by the Governor on 5 October. Apart from the passages on the future, of which you are already aware from Hong Kong telno 1466, it contains the following points of interest:
a) Paragraphs 6-8. Good progress being made on social programmes. Need to formulate long-term development strategy to take Hong Kong into the next century and in particular to take a fresh look at education system.
b) Paragraphs 11-15. The Economy An export-led recovery under way, but some effects of 1982 recession linger on. Private sector investment affected by anxiety about future. Unemployment down to 3.9%. Inflation just over 9% but will rise because of fall in value of Hong Kong dollar.
c) Paragraphs 19-24. Regulation of Financial and Commercial Sectors Companies (Amendment) Bill and amendments to Ordinances governing banks and DTCs to be enacted this year. Hong Kong Government considering requirements for disclosure of shareholdings and dealings. Legislation being drafted to regulate travel agencies and hire purchase schemes.
d) Paragraphs 25-9. Trade Hong Kong well placed to take advantage of increased opportunities resulting from recovery of world economy. Quota system has been reviewed and, some changes now being brought into effect.
e) Paragraphs 30-33. Industry Government taking measures to assist diversification and development. Decision to be made soon on exhibition centre in Wanchai.
f) Paragraphs 38-47. Transport Cross-border links being expanded. KCR now fully electrified and double-tracked. Options for second harbour crossing still under consideration. Capacity of Kai Tak will increase from 10 million passengers now to 18 million in 1990. Kwai Chung container terminal will grow by 57% by 1987.
g) Paragraphs 48-52. Utilities Monitoring arrangements for electricity companies being studied. Lazards report on Guangdong Project has identified various issues that need discussion with Chinese. If these are satisfactory, expect to be able to negotiate satisfactory off-takte agreement.
h) Paragraphs 54-63. Education Recommendations on overall review to go to EXCO with public comments by end of year. Two more technical institutes to be completed in 1985. First-year university places to increase from 3,100 now to 7,000 by 1994. Degree courses now
/introduced