07-OCT-1992 22:57
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HK GOVERNMENT HOUSE
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quoted Emily Lau as
reaction to Mr Patten's speech, UPI,
UPI, quoted saying that she was pleased by Mr Patten's speech, But "I was disappointed in the lack of progress in direct elections."
AP quoted Mr Jimmy McGregor as saying that he was generally pleased with the push toward democracy, but "China will not like one little bit."
it
Another liberal lawmaker, Martin Lee, also said he generally approved of Mr Patten's initiatives but was concerned how the Governor would react if China rejected his electoral plans.
"I'm concerned what
what will happen if China says no"
says no" to the proposals to expand democracy. "In the past, Britain has just caved in when China said no. What will happen this time?"
AP also quoted Prof. Peter Harris of the HKU as saying: "The constitutional changes are going to hit a lot of people who had a lot of power in this town for a long time. They're going to lose a lot of face.
According to AFP, Mr Patten's speech lifted the Hang Seng Index to close 35.91 points up on the previous session at 5,589.03 points, reversing an early decline.
"Basically it was a speech which showed Patten was
showed Patten was trying to set up a government geared to efficiency and focussed very much on economics, said DBS Securities Research head Eugene Law.
Xinhua News Agency said Mr Patten today ensured local residents that the new airport would not be financed at the expense of key social programmes.
The Airport Authority and Mass Transit Railway Corporation will raise loans on world markets in order to relieve the burden on public funds, Xinhua quoted the Governor as saying.
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