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HONG KONG STOCK AND FUTURES EXCHANGES
1.
Hong Kong as a financial centre: Securities Review Committee
After the events which affected the world's stock exchanges in
October 1987 the Hong Kong Government acted quickly to appoint a Securities Review Committee to undertake a thorough review of the
Stock and Futures Exchanges and the Government's regulatory position. This demonstrates the Hong Kong Government's determination to act swiftly and decisively to identify underlying problems and maintain Hong Kong's reputation as a financial centre.
The Committee's report was published in Hong Kong on 2 June. welcome the publication of the report and we know that the Hong
Kong Government are studying its conclusions carefully. We believe that the Review and the follow up to it will contribute
to the maintenance and further enhancement of Hong Kong's reputation as an international financial centre.
2.
We
Investigations by the Independent Commission against Corruption
The investigation is of course a matter for the Hong Kong
authorities. I cannot comment on the substance of the allegations.
But it is clearly right that the authorities should have moved decisively to take the action which they judged necessary. This is further evidence of their determination to deal effectively with any problems which are identified in the operation of Hong Kong's financial institutions.
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