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THURSDAY, NOVEMBER 6, 1975.
ECONOMIC RECESSION LEVELLING OFF, SAYS C&I DIRECTOR
X X X X X X X X
THE DIRECTOR OF COMMERCE AND INDUSTRY, THE HON. DAVID JORDAN, SAID TODAY THAT MOST OF THE AVAILABLE ECONOMIC STATISTICS POINT TO THE END OF HONG KONG'S RECESSION, AND IT WAS REASONABLE TO HOPE THAT THE IMPROVEMENT WOULD CONTINUE.
MR. JORDAN WAS SPEAKING AT THE RESUMED DEBATE IN THE LEGISLATIVE COUNCIL.
+EVEN THOUGH WE CANNOT BE SURE OF HOW FAR OR HOW FAST WE SHALL MOVE, THE SIGNS CERTAINLY ARE THAT WE ARE MOVING IN THE RIGHT DIRECTION AND THIS IS REFLECTED IN AN AIR OF CONFIDENCE THAT IS SPREADING AGAIN IN HONG KONG,+ HE SAID.
MR. JORDAN SAID THE SEPTEMBER FIGURES — UP BY 18 PER CENT ON THE SAME MONTH LAST YEAR - LOOKED VERY GOOD BUT ADDED THAT THERE WERE SOME UNUSUAL FACTORS IN THAT MONTH. HE POINTED OUT THAT THE IMPORTANT THING WAS THE SLOWING DOWN IN RECENT MONTHS OF THE EXPORT DECLINES WHICH OCCURED AT THE BEGINNING OF THIS YEAR.
MR. JORDAN CONTINUED +AND INDEED THANKS TO THE SURPRISINGLY HIGH SEPTEMBER FIGURE, THE VALUE OF DOMESTIC EXPORTS IN THE THREE MONTHS TO SEPTEMBER WAS UP BY 3 PER CENT ON 1974. IMPORTS, TOO ARE UP AND THIS IS EVEN MORE ENCOURAGING THAN THE EXPORT FIGURES.
+THERE ARE, I AM GLAD TO SAY
I AM GLAD TO SAY, SIGNS THAT THE DECLINE IN MANU- FACTURING EMPLOYMENT HAS STOPPED TOO.+
ON TEXTILE NEGOTIATIONS, MR. JORDAN POINTED OUT THAT THE COMMERCE AND INDUSTRY DEPARTMENT HAD HAD TO CONDUCT MORE AND MORE NEGOTIATIONS AND THAT THESE HAD TO BE CONDUCTED IN AN ATMOSPHERE THAT WAS 'FRANKLY INIMICAL' TO THE BASIC PURPOSE OF THE INTER- NATIONAL ARRANGEMENT REGARDING TRADE IN TEXTILES.
+I THINK SOME PEOPLE HAVE LOST SIGHT OF THE DECLARED PURPOSE OF THAT ARRANGEMENT -- ''TO PROMOTE ON A SOUND BASIS THE DEVELOPMENT OF PRODUCTION AND EXPANSION OF TRADE IN TEXTILE PRODUCTS AND PROGRESSIVELY TO ACHIEVE THE REDUCTION OF TRADE BARRIERS AND THE LIBERALISATION OF WORLD TRADE IN THESE PRODUCTS'',+ HE SAID.
REFERRING TO THE HON. FRANCIS TIEN'S CONCERN ABOUT THE DIFFICULTIES D.C. AND I. FACED IN THIS SITUATION, MR. JORDAN ASSURED MR, TIEN THAT THERE WAS NO FEAR THAT THE DEPARTMENT WOULD BECOME UNWIELDY AND LOSE ITS FLEXIBILITY EVEN THOUGH THE WORK CONTINUED TO GROW IN VOLUME AND COMPLEXITY. +WHAT WORRIES ME,+ MR. JORDAN SAID, IS THE PRESSURE OF WORK.+
+MANY MEN AND WOMEN IN THE DEPARTMENT HAVE WORKED VERY LONG HOURS THIS YEAR AND WITHOUT EXTRA PAY, SINCE NO ONE ABOVE THE RANK OF CLERICAL OFFICER QUALIFIES FOR OVERTIME PAY SEE NO LIGHT AT THE END OF THIS TUNNEL, HE REMARKED.
AND I CAN
/ON THE SUGGESTION .....
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