CONFIDEN TIAL
grey
areas, the period under review saw Hong Kong
"business as usual".
re turn to
35.
Looking ahead, Hong Kong's economy will continue to remain
highly dependent on trade and manufacturing. Clearly, important
factors will be consumer demand in Hong Kong's export markets and
the willingness of other Governments to allow consumers freedom of
choice.
If the Thurmond/ Jenkins Bill in the United States should
be passed into law, Hong Kong's trade would be adversely affected.
Otherwise, Hong Kong's economy is expected to hold up well. In the
financial sector over the next 12 months the Government in tends to
develop further schemes for prudential sunervision of banks and
financial institutions.
V.
SOCIAL PROGRAMMES
36.
During the year the Hong Kong Government has pressed ahead
vigorously with its forward-looking social programmes to improve the
well-being of the people of Hong Kong.
(a)
37.
Housing
The territory was able to maintain its performance and
achievements in public housing construction. The Housing Authority
exceeded its annual production target of 35,000 flats for the sixth
successive time.
With a further 12,000 flats built under the
Private Sec tor Participation Scheme and by the Housing Society,
public housing construction reached a record level of over 48,000
flats. Over 18,000 of these were for sale to the general public;
yet another record, reflecting recovery and re-investment in the
property market. Private sector housing production also increased
with about 30,000 new flats completed.
38.
1985 saw the Hong Kong Government step up their squatter area
clearance programme.
Their object is to clear and rehouse all
squatters in the urban area over the next ten
being given to those
landslip.
currently squatting on
years,
with priority
vulnerable to
slopes
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CONFIDENTIAL