9
ON
Wednesday, July 11, 1973
These problems received the personal attention of the Councillors.
Matters which did not come under the jurisdiction of the Council were
similarly noted down and promptly passed to the right authority for
action.
The ward system was introduced in 1965 and was designed to
give members of the public an opportunity to discuss their problems
at first hand with Urban Councillors.
READJUSTMENT OF RMB HELPFUL TO LOCAL FOOD PRICES
The Financial Secretary, Mr. C.P. Haddon-Cave, today described
as a "realistic move" the Bank of China's announcement of the re-adjustment
of the rate between the RMB and the Hong Kong dollar.
The rate has been altered back to RMB 37.95 to HK$100.
"I regard this as a realistic move so far as the exchange value
of the Hong Kong dollar is concerned; and a helpful move in relation
to local prices of foodstuffs and other imports from China," Mr. Haddon-Cave
said.
Release Time: 7.00 p.m.
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