RESTRICTED
HONG KONG STOCK AND FUTURES EXCHANGES
FUTURES EXCHANGE
-
Hong Kong Government took action to support Hong Kong Futures
Guarantee Corporation in order to avoid possible adverse effects on
Hong Kong's economy and to protect Hong Kong's reputation as an
international financial centre.
Measures taken successfully contained the problems on the Futures
Exchange.
CHINESE SUPPORT
Warmly welcome Bank of China's readiness to participate in the
support facility for the Hong Kong Futures Exchange.
- Further evidence of commitment of Chinese authorities to
maintaining prosperity and stability of Hong Kong.
HONG KONG AS A FINANCIAL CENTRE, ENQUIRY INTO STOCK AND FUTURES
EXCHANGES
After world's stock exchange collapse in October 1987, HKG acted quickly to appoint Commission of Enquiry, which is undertaking thorough review of Stock and Futures Exchanges and Government's regulatory position.
This demonstrates HKG's determination to act swiftly and decisively to identify underlying problems and maintain Hong Kong's
reputation as financial centre.
Commission of Enquiry: report is due in May.
RESTRICTED