1990-10-31 23:20 G.1.S
sir,
D.82
REVISED
SPEECH BY THE HON THE FINANCIAL SECRETARY
IN THE LEGISLATIVE COUNCIL : WEDNESDAY 31 OCTOBER 1990
Debate on the Motion of Thanks
I shall start by saying a few words about the
present state of our economy.
Hong Kong Economy
2.
Recently there
there have been some encouraging signs.
Over the last few months we have witnessed strong growth in
our re-exports. This to an extent has compensated for the
somewhat slack performance of our domestic exports. We
have also witnessed Some recovery in relation to domestic
demand. Retail sales recorded increases in both June and
July, and We have also seen an increasing number of
visitors to Hong Kong. I am happy to add that in relation
retained imports of capital goods, there were moderate
increases in both July and August following zero growth in
the first half of this year.
to
3.
Reflecting confidence
confidence in Hong
in Hong Kong's financial
sector, the number of foreign banks setting up or upgrading
their operations in Hong Kong continued to increase. In
the 12 months after June last year, more major banks
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