“
-期星
報日僑華
WAH KIU YAT PO
華僑經濟
去年
日八廿月一年五八九一曆公年四十七國民華中
多成八額總投交佔
獨銷樓住去 佾情宇宅年
獨 顰集
流主賣實業物為仍年今料預
離?他們列舉的理由是經濟亦有概續擴的餘被抗衡? 外國資金何以會緱維持低水準。因此美國大的軍事力量可以跟蘇
·推離而造成美元劇落。,預料今年通膨率仍會了美國又有維在远强
巨大的美國預算赤字,一地
「必是這個原因。
·其實就算果真被走悦·
同時,最近杰個月
而佔計今年本港的物業交易中,仍
一進入較長期的穩健成長一資流入。
金在
銀行
沒有「條件」(仲話技術及經濟方面Ü移民他分,不論瘫途的安排怎樣, | 似乎也非要花香港留下來不可。因此,中小型住宅街道受前途困擾影响的 [i草衙以前,木港雖然仍受前途問題困擾,計劃移民的大有人在,但當時 計劃移民的只爲專業人士及「高收入」府,而中產階級市民多數自付
中八成以上. 。事實很明顯,在中英協演九月下 赦,能最低烟而逐步進入復甦之迷,亦 一是中小型住宅銷售趨向活躍所帶動
·年市坦供應形勢保持穩定。. 庄主流。從去年底開始,物業市囚徽 業市道一直均以中小型住宅單位爲一 設近一年多以來,本港地產物
需求殷切,因此預料八五 ,假以中小型散位佔最大此衝。該 八四年著分離,至於總供應發中 九千個,公私兩方面推出的單位比 - 而港府推出的居屋計剂單位亦遠
據優近一些懽生經濟月 指稱,本裾物業市纸交易活動近败 仍成的各類住宅單位將往三萬五千個,民下仍能推特低通跟率 受到阻止。遵世各國除,把告將,仍然不確定。 月報又指稱,八五年內本港落,令人稱道的是在高速成,蘇俄在世界上的擴張已,甜極為困難,漲勢是否 預月來有明顯好加,預計八四年全年,全和政治穩定,軍事强,而且爾西利率仍舊湯一價和煤碗工人罷工的號 以住宅樓宇爲上流,約佔總實際地,後成長,而且很有可能一著縮小,而足以吸,一百周對貿易不振則極, 物 業買言的陪長率超過百分之廿,下半年減辦後,現已恢言之,利率差距並未顯,许成長建设的制害,而 工業方面,紡織製衣生產全西诚駕亦受關注。 食米、血糖、海味较有變動。 一運進兩月減退,謝創貯資滿盈。品方面, 【薇媽方面,百貨業談價招徠,爲的表現。品
「局面。美國經濟成長展自列根上台以後,脆弱。不過,美元的預 况,以銀行和暮本月內作第二次調低,最受注成
大的具體表現,在去年,其他上要工業國家。換壞,因克則受到西經 ,美元强勢是經濟健一但是續降幅度不會太大嗎?英鎊正受到石油降 去週間(一月廿一日至廿六日)本港經濟情
美國利導 雖已告普降,有其他通皆可取代美元 !即致退一步說,慧
基斯絷的班期化,人們信心大凡候摸,
一民確實證加,地產商推出的中小型住宅單位桩盤,請將確比就簽的裘话 。這樣一來,中小型住宅鵲宇,也就更成爲帶勁物業市邁步向復甦的主流 均推動中小型住宅市道向活,而自九月下旬開始,設業安居的中產油級市
一程度,向來較高導住宅及工商業樓宇輕微。在有受到
<析分濟經週一港本>
它及調兩利
其低次率
半,均比丽萬低一座。 期利率由十二座減至十一種。 最優惠貸款利颮由十厘半截至十里,新做樓宇分
·三個月;六個月“九個月及一年定期存歇均爲五 均爲五座。均比前減低半座。一個月;二個月; 知;七日通知:一磴星期及兩個星期的定期存欸 佈,將隆惠利率由十厘半減至十萬。 由木琳一〔廿八日)生效。匯豐及殖打亦同時 恆生銀行亦由宜術由木迥(廿八日)開始。
例會後,决定將存款利息減低半厩至一風不等,
·上溉 八廿六日香港銀行公會議恩小組舉行
·經調整後,儲菩存歎爲四代。廿四小時45
·本港銀行利兒- 在一月以來,已作兩次低38
·銀行利率第二次調低
,而利率的一再邊隆,對刺微市民置業亦於一項動力。以本港的人口數字 【計單位九千個,合計約為四萬四千個,供應量相當廣大無疑加重了市場 「而言,對住家護位儒求是強烈的,雖然港府推出居坦計離單位九不個,相訂單需用衣料,與去年不易重演。 宇著減少,而以較厚身的點三。出口貨量增長率一百六十四元滿一百 花衣料加工較多。.
然亦並不转时,主要原因是前途確定议後,在愁置業安居的市民较前地王,但今年一月,于上 年上半年的持續火旺將 羊油站每但調低十五 念,加工的,比去年同期園一八三年始加百分之十三十八元,性守將苗海报中 的供應量照然不小,但人當前情勢而言,市場對中小型住宅單位的蓋求,算可維持六個月正公開,八三年下半年至八四,調低五尤,澳洲麻袋庄 的壓力。但是,物業市道的能否國活,主要熱擊於供求。八五年住宅淼宇商期減少,去年一月,一上對今年空運出口業汝一米及澳洲油花價格均調 投用牛仔布及燈芯絨衣料七百一十五萬公斤,校中六十一元減爲一百四
紡機製衣生產均減 八五年內落成的各類住宅單位就三萬五千個,再加上港府推出的居屋 情形,實在是連鎖性,由於製衣業去年第四季接入海外訂單,數眾比前年9 .提衣衣料及高级液與積爲百分之十四點一,入 五十一元。 ,以棉質成衣而會,垛、出口貨物量遠四位一于超調低十三元。即是利 同期新飛糧有較大變化,整年計算,空運進 欸砗行價格亦南低,每 很多梨贼手上計 預現,預料只會平步發展低,暴風新花香米每 *本港整個紡織製衣業,業內廠家手上訂單比去年同期普逊減少,這種愛 元。週五,中國大陸
信對中小型住宅單位的影响程度並不嚴重。
亦加强,這一切均有利於工商業樓宇市道的好轉,展望八五年工商業樓 到工商業有懋,而裕資鹳流亦有增長,再加上工業再投資廠房設備的意 ,至於工商業樓宇市道方面,由於本港前途問獲得解汰,外資來港
前景亦不悲。(麥
「無持不變。
經濟健全政治穩定軍事強大是
·百貨業普運城價
美元強勢的重要支柱
推
利率差距均不是美元升降的主因。 -從過去的歷史看來,外貿赤字,利率高企、 個月期國限券利率则已低。美心對太多其他 九八〇年起就战於七,這段時期,美到尼加位,但是对口圆則不過一現蚊亲的一年, 的局面,一直到現在盟新高,無需科辛的餘,是賴年伊以來的高峰。」 空運貨物出口續 沧緩慢反映市面滑野一動。南韓幼秒每报拆踏 基本上,美元從一│隆成后%左右·們是在一主要通貨均屢創衙玉低,此情形亦器近數年來說,在皎預期少,亦是造成」,銷量減少说明婚。. 很不同顧過去是怎縻上 即一路下跌,基本赦肄 圆與美元的匯率却比较,一起多來市面消費需號。近期眝率滿盆則由於年脊品品採用片糖及冰 涨的?或許可得一些唱,利率降至十·五千、二路裕,跌氣較其他通置與節前這段背黄不接期,随口貨物炯佰城加所致 框製造比從前減少,无 要錢未來美元,不但·美國金沙短利·本經濟成長比較慢,紅圈鐵會更附驚,而以近新界會用你得八成左右,但應王木旺,編然是 2成了米所注目的蒸唯一多,實質利率路七.二 美國。美元與經濟成長,故就,而有利春的生意 克,會及乾打铁珠上尼 威均逐少補-
。片底在 ?,美元的走法會如何,五弦,通膨巠僑四,主要工業國家群有能及,加强招徠,以便存許可 去年末季,本港市區的製品商對幼砂状,粗砂 美元還會不會再漲[基本放烘利率爲十一.一來,除了日本外,其他有關,以致百貨業商須 五年來僅見的情形。在「铿價亦不高,拆銷商及 情形亦與市民商費力弱 露,再著,從去年九月多少有點關係。例如日開展,否則添節過後,經眝滿,但會位較多的,舊懋咸晚本屬惯性旺销
由於聖起百食鎊一滿 你們贊生意菩皇營態,,但另一方面,貨物出,其透價格偏高的譱片 一眝率增高的原因。貨物
市面一片減價風潮,此 潘乾貨倉及凍倉炉率已爲幼砂糖現貨價窩而期一 未如理想,已促使現時,今年一月以來,木、及粗砂糖均屬滯銷, 3 貨翁腔貨來已變市 呈現滿盈狀態,迢近價低,但砂粒經銷商 3
口城長率為百分之十二 砂糖片糖冰糖均 上週慈市,幼砂糖,
一樣也能吸引外安流入
腾,對外貿易收支的變動係, 傳統乚,總以位在一直不是因為有率高低的 低,由此證明,美元強 自由活動的濟系制度下一關係,至少沒有絕對關」,後統計,外人在美投產品對美險市場提運後,創的货最多。陳內,上蒸片就手拍几
上班市,尚無變
育教濟經頁三第張五第日八初月二十年子甲夏
上週米市,大勢仍9年担,七〇元及一大
他變動。 美國去年對外,和室與其他國和室流區 甲,终必台岀胸到本同雁术||| 有些專家曾经美國|十一億美元,幾乎是五十二月本港空運出口貨,會亦慢。 官現在高達八千三百二將,一及鮮亞,海產及蔬菜的出彩虹比冰片糖每一八
·反映去年挖翁本港 海難,藥材,一六九〇元,粵產缸 「生意未如理想,尤其是一〇八元,中國大陸商 【〇元及一七七元,若冰
各國冀望美元保持強勢
達到多年來最高峰。
·獲利最豐爲日本、歐洲各國對美國出口都 美元强對長久以來「貨國可以增進對美國的「忍美元強勢阻礙了他們仍然不滿,稜年同期
一起色.
-海味批銷生意無
·當然,仍有人堅持譴究院如何呢?人多ㄦ 意接受這項事實、 夏,树高的結果,本實!一,美院已經恢復西方世黨浅,連西德央行郁避 | 地河五口溪“也是越西國的返政和貨幣政策末,哚大鼠海到造成嚴重的 異,不過,便一個站,常有美影的凱程第一台對比較積極介入市,貿易剩餘初估高達一百率始终居高不下,形成「來最傷明顯上要因素是 作建造,品烈波發射,美元強勢的主人,罪脫,運已有所改變,過得樂家的對美出口也都送到一跌,只好提高川省或推,它與大致定,黃菜 在列根總部導下,罕見干道的,到了最近一天出ㄩ即比一九八三年。於此,主要應阿替於善意的港大大地,各類在 设和强大政治體力,干怕美元過分艳福之外一七十四億美元,居兩年,政治上的重大壓力,但消費力退縮。另方面雖 從一九八二年华都流動有無應制,在花炮一直受到要洲國家的抱出口。除了一间出口致的經濟成長,威脅到他明斯遜色,幾難退主要 熱及科着也不是「這些先進,業國家的心還獲利極體外,歐洲憾,這爲了不使木渎離貨暴·米等價格均較去年降低。 他歐洲國家央行即的最高紀錄。罪對,是淨度上的原因並不在一組於年來做大陸貿易生 ,敲近除了西徼央行 西德一九八四年的對外以激勵經濟,於生產,晚市向之蔗爾過去幾年 怨,但在跡示,一些猛烈的日本在美國市【們的物價稳定。他們認,品種如冬鎭,號,蝦】
·多年來的最高修,例如一持現行利率而不能降低略爲上升。今年熱曆
當美心對其他主要团订位散。除于
一.五%,但是以去年金流入美國成美元資產 如基本放歇利·薛造二一核也吸引了大量外體實-貨幣統下跌, 打造於空樹高水準,供「较高過其他主及工業國一處,而甘心倍除其本國「美加,對西德經濟的寶,而直接加惠於經濟成是一致商人向外訂比增加, 處於低谷時,美国利中心的信心外,先條行再放一是得到了美元居高的树| 劉達到一千六百五十億,反而成了该动各國出口 | 來港元拉亞,一方向導。 【逍成長的食品高達二的王力。同時,由於油 另方面財進口成本亦較
還枝高點,另一方面則一九八四年出口金額可 拍反的,美元做勢您推程百貨。此外,年
· 連估計,西德的發展落後所。! 能配合以及民間企業的一供過於求,不但抑低了 【價格,而且導致買家故
.美元強勢最大的妇 五至三
卓先,很多國家慰 美元强勢惡而化。
價下跌通貨膨脹也未因八三年時低些。.
本港海米批銷生意。
():
1985
中學會考試題預習專欄
歷史(十九) 明德出版社黃玉琢
提供資料
HISTORY (19)
VIOLAWONG YUK-YUE;
& DALE PRESS LTD.
THE 1911' REVOLUTION
This time we will discuss the 1911 Revolution in. Cirena. There are the g points to remembers 1. The revolution broke
out in October 10, 1911. But the Ching Dynasty did not fall until early 1912.
2. The revolution was
not well-planned; Revolutionaries prepared for it hurriedly, and most of them expected it to ba adother failure. Therefore the eventual success was a aurpinea
Because the revolution ended the age-old monarchical system of government in China, historians may exaggerate the importance of the part played by revolution) avy Lenders like Dr. Sun Yat-sen. Dr Sun Yat-aeb did play s part in bringing about the revolution, but it was not as important
as people thought. The Ch'ing Uynasty. ended. We may say:
that revolution- aries overthrew it. that the weak dynasty collapsed itself.
In fact, both of these two processes were at work. But b. is more important than a. CAUSES FOR THE 1911" REVOLUTION
1. Coming of the Vest and
growing imperialism: → The westerners came to China and opened ber unsince 1840, Prom 1895 to 1900, China's was nearly partitioned by foreign powers...... Many Chinese people.. tried to save Chine. a. At first, they
thought they could reform the Ch'ing Dynasty and 'make China strong again. However, the Self- Strengthening Movement (1862 ¥894) and the Hundred Day Reform (1898) ended in failure. This ahowed that reform seemed useless. Then some Chinese people tried to reebut foreigners by armed force. An example was the Boxer Uprising. (1900 1901), Thi method was equally úseless.
More and more
Chinese (especially
learnt men) felt
that to save thine
the Ching Dynasty
must be overthrown,
2. The need to modernize
China Limited reform
did not make China. strong. Many people felt that China susti follow the western povers in establishing a. government based on· the people. Thus the Ching Dynasty must be ended first:
REASONS FOR THE SUCCESS- OF THE 1911 REVOLUTION This is different from general causes of the revolution itself. When we speak of the causes of the revolution, we are expected to answer #HY there was a revolution.. When we speak of the reasons (or causes) for. the success, we are expected to answer WNY the revolution succeeded in 1911 and not earlier. 1. Decline of the thing
Dynasty. As ve pointed out last time, the Ching Dynasty had been on the decline since the early 19th. centurywhether politically (weak control over
provinces), socially (growing independent power of social leaders called
scholar-gentry) economically (the government becasing poorer and poorer)and militarily (the government's armed forces becoming weakei and weaker). If there had not been the coming of Westernera which stimulated reform and revolution, perhaps a new dynasty might have replaced the Ching Dynasty.
2. Foreign imperialism
Chinese people wanted. to save their country. The Ching Dynasty seemed an obstacle.. So people tried to overthrow it..
3. Effects of the Late
Ching Reform, (1901 1911) In the last 10 years of the dynasty, the Ching government attempted some reforms such as
sending students to study abroad for... example, Japan, Büt these studenta. became dissatisfied vith the corrupt. rule of the thing Dynasty (because of new ideas) Hanyuf Liese students became revolution- aries aiming at overthrowing the Dynasty. practice of constitutional rule, which gave chance to local. provincial lenders called scholar- gentry, to
establish indepen-. dent power against
the central goverqu
ment.
military moderniza-
tion.and.the. creation of new
armies, but this
only led to the
rise of regional armies loyal to regional leaders like Yuan Shib-kai and not to the
central government.
As you can see, the Chring Dynasty tried
to reform itself, but the efforts only
quickened its' own
downfall because the reforms led to forces that eventually triSA to overthrow the dynasty instead of Baving it."
the Chinese revolutionary movement - This was led by men like Sun Yat-sea and Huang [weing: (興): They: tried many times to overthrow the Ching Bynasty.
EVENTS LEADING TO THE 1931 REVOLUTION
New army in the Wuhan dreas The army. part of the Late" Ching Reform. But any soldiers and officers were influenced by revolutionary ideas. and were not loyal to the Ching government They get up revolutionery organizations, one of which was called Literary Society, Ta Literary Society prepared a revolt in Wuhan; bit on October 9, 1911, the govero- ment knew about the plan, because the revolutionaries accidentally exploded bomb when testing it. The revolutionaries feared that further delay would Tead to their being captured by the government go they: started a revolt the next day, October 10, It was a success.
2. Declarations of
independence by the provinces - The :following groups. of people should've come to the help.of. the Ching Dynasty even if Wuhan was in the hands of the revolutionaries: (a) officials (b) the army (c) scholar-entry, at local-provincal levels. BUT they did not. In fact, in the following 2 months or so, they declared their provinces independent from the central government,' This formally put an end to the Ching by nasty.. CONCLUSION: COLLAPSE ÖF THE CH'ING DYANSTY
evolutionaries (like Sun Yat-sen) provided s glight, push (local small- scale revolts) against
the Ching Dynasty.
Because the Ching
Dynasty was very weak (weak control over
the
provinces), and because it
did not have supporters,
the: 1911 Revolution was successful.
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(十九)
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ECONONICS (15)
L.T CHAN MILL & DALE PRESS LTD.
The Stock Exchange
atoch:excuange forms
a. part of the financial market. It is a place where deslings in securities take place, that is, a market where those desiring to buy t existing securities are. brought into contact with those who want to sell. A stock exchange bas.a limited membership and the members are permitted to trade securities with each other.. since only members are permitted to conduet business on the exchange, others who Want to buy or sell in this way must employ. members to act on their behalf. Regulations regarding stock exchanges. include. The Stock. Exchanges Control: Ordinance 1973, Securities Ordinance 1974, and the Protection of Investors Urdinance 1974-0. permanent Securities Commision; with the Commisioner for Securities as its head, was set up. In 1976, tue. Securities (Amendment) Ordinance was passed and likewise Tho Securities (Stock Exchange Listing) Rules. 1976, under the Securities urdinance, were put into effect. These rules ensure that a well run and regulated atockexchange will perform its functions amoothly.
1. Describe the economic fractions of stock exchanges.
Stock exchange provides chances of investment for the general public. It helps to mobilize the
dle savings of the Community to those fires which seek to· put them to productive uses Through the facilities of the exchange numerous. small sums of money can.be pooled together to finance high p projects which are beneficial to the comunity. stock exchangea make it. possible for an owner of securities to dispose of them if he. so desires or to convert. his securities into cash when necessary. Stock exchanges assist the caital market by
making securi Lies more
Jiquid and in this way encourage people. to invest in hem
to
Stock markets are also means; to profit Faking. They offer
constant opportunities for the investors make profits in the form of dividends or price gains. They can also provide capital for the government. By issuing bonds for sale in the stock exchange; the government can raise funds for its projects ég for construction of the mags, transit railway. Often, the turnover of the stock exchange indicates to aome extent the performance of an economy. In addition, competition betyeen: the many buyers and sellers in a frea market wil help to determine the credit rating which an enterpriae deserves so that the more efficient and promising enterprises can raise capital more readily and pay a lower rate of interest. than the leas efficient enterprises. furthermore, stock;; exchanges can ensure. the efficient use of loanable funds by those firms which are more competitive and efficient în, their business. It is because investors usually put their money capital in those businesses which are high-yielding:
The Currency System of Hoar Kong
In Hong Kong, cains of $1000 (gold coine), $5 $2, $1, 50 cents, 20 cents, 10 cents and 5 cents and currency notes of 1 cent denomination. are Issued by the govern ment. Coins are normally; fused in smaller transie
tions. The mujor part (95%) of the total amo of currency in Hong Kong consists of bank notes issued by two commercial banks under the suthority of the government the Hong Kong and Shanghai Banking Corporation and the Chartered Bank, The Banknotes (paper money) are of 1000, 8500, 6100; $50, $10, $5, and the value of these banknotes is fully backed by the Exchange Fund. Both the coins and the banknotes are legal tender in Hong Hong while the l cent notes are legal tender only for payment of any amount not exceeding one dollar..
The Banking Ordinance
In Hong Kong all banks are required to act according to the provisions. in the Banking. Ordinance which vas enacted in 1964 and
·amended on many.
occasions.
As
it exists
today, the main features
of the making Ordinance ares
(1)A Commissioner of
Banking is appointed and given the power to approve new bank branches, to exercise control and supervision over the operations' of
licensed banka, to inspect bank accounts and to wind up any bank.considered. to be unsound. Also, there is a Banking advisory Committee with the Financial Secretary as chairman to advise the Governor op matters relevant to hanking.
(2)Every bank wust have
minimum paid-up - capital of HKSLO million and build up ita reserve until up it is equivalent to the paid-up capital. (3)Each bank is required.
to maintain e ninīm Um of specified liquid saketa equal to 25% of the deposit Tiabilities of the bank in any calendar month.
(4)Every bank must submit
au audited financial ' report monthly, vl, quarterly and annually to the Commissioner of Banking. Locally incorporated banka. must have their annual balance sheets published in one local English and one 'local Chinese newspaper, (5)No banking bugi np sa can be coriducted by a company without 1. obtaining, a valid -banking license from the government. Each bank is required to pay an annual license fee of HK$200,000. To open a branch, permission must he abtained and an annual license fee of Ik810,000 must be, paid for every single branch.
2.
Outline the main effects on the economy.
оп
of a rise in bank interest rates on loans and deposita.
A rise in bank interest rates loans and deposits will probably have the following main effects: (1)loans will be more
expensive, and individuals and businessmen vill then be less interested in berroving money from bank's A (2)tuug (investment:will
slow down and, decreese. Consumerge demand will also fäll as they will borrow less to purchase property, car etc; (3)production coste w
he higher because of the higher interests. on loans.
(4)export prices will
rise 'and
exports will
drops as they become
less competitive in overseas markets;
(5) foreign capital will
be induced to Hong Kong while Focal capital is attracted
(6)there will be more
deposits in local banks; (7)the growth of economy
and transactions will slow down because of declining investment and consumption:... (8) the prices of stocks
and shares may fail.
and speculation in.
the stock Exchange
will bo less.
附加數(十九)
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ADDITIONAL MATHEMATICS
19)
S.F. KO
MILL & DALE PRESS LTD.
Paper I, Section Exercise 10; 1.By:using: the
substitution y=xz, where z is a function
of x, in the equati on
2
-y(x+y),
show that
By means of a suitable subatitution, “evaluate
the integral
coseda
Įsine
The line joining (5,0) to (10coge, 10sine) is divided internally in the ratio 2:3 at P(x,y). Find cose and sino in terms of x and y respectively. If e veries, prove that the Focus of P is a circle, and write down- ita centre and radius.
...
Find the co-ordinates of the point at which the tangent to the
32 curve. ynxxx+1,at the point (-1,0) meets the curve again.
Express the following in the form xiy and hence find its modulus and argument
(cose+isinė)
{sing
cosp-ising
For what values of a
so that the roots of the equation.
are real?
*a-3=0
The expansion, in ascending powersof
f(x) becomes 4 1-4-7 * ́ ̄ 12′6-12-18*
when certain valued are substituted for and.n. Find these values.