WEDNESDAY, DECEMBER 8,
1976.
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STRENGTH OF H.K. DOLLAR AND DOMESTIC EXPORTS
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THE VOLUME OF EXPORTS IN THE FIRST NINE MONTHS OF THIS YEAR WAS 33 PER CENT HIGHER AND EXPORT PRICES IN HONG KONG DOLLARS 11 PER CENT HIGHER THAN IN THE SAME PERIOD LAST YEAR, THE ACTING FINANCIAL SECRETARY, THE HON. DAVID JEAFFRESON, TOLD THE LEGISLATIVE COUNCIL TODAY.
IN REPLY TO A QUESTION FROM DR. THE HON. S.Y. CHUNG ON THE EFFECT OF GROWING STRENGTH OF THE HONG KONG DOLLAR ON DOMESTIC EXPORTS, MR. JEFFRESON SAID THE GOVERNMENT HAD NO EVIDENCE OF THE SUBSTANTIAL UNDER-UTILISATION OF CAPACITY THAT ONE MIGHT EXPECT WERE THE HONG KONG DOLLAR OVER-VALUED.
HOWEVER, HE SAID: THE GOVERNMENT APPRECIATES THAT THOSE EXPORTERS WHO NEITHER ALLOWED FOR A POSSIBLE APPRECIATION OF THE HONG KONG DOLLAR IN THEIR EXPORT PRICES NOR SOLD THEIR FOREIGN CURRENCY EARNINGS FORWARD, WILL HAVE RECEIVED A RETURN LOWER THAN THEY EXPECTED.+
REPLYING TO ANOTHER QUESTION, HE SAID THAT GIVEN HONG KONG'S DEPENDENCE ON EXTERNAL TRANSACTIONS, THE GOVERNMENT'S POLICY WAS NOT TO INTERVENE IN THE FOREIGN EXCHANGE MARKET EXCEPT TO OFFSET MOVEMENTS IN THE FOREIGN EXCHANGE VALUE OF THE HONG KONG DOLLAR JUDGED TO BE WAYWARD OR ERRACTIC.
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MORE SHELTERS FOR BUS STOPS ******
THE GOVERNMENT, ACTING IN CONSULTATION WITH THE BUS COMPANIES, HAS DRAWN UP A SCHEME TO PROVIDE MORE SHELTERS AT BUS STOPS, PARTICULARLY IN REMOTE AND UNPROTECTED AREAS.
THIS WAS STATED IN THE LEGISLATIVE COUNCIL TODAY BY THE SECRETARY FOR THE ENVIRONMENT, THE HON. DEREK JONES, IN REPLY TO A QUESTION FROM THE HON. T.S. LO.
THE AIM, HE SAID, WAS ROUGHLY TO TREBLE THE NUMBER OF SHELTERS IN THE RURAL AREAS WHERE, AT THE PRESENT TIME, LESS THAN A TENTH OF THE STOPS WERE PROVIDED WITH THIS AMENITY.
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HE NOTED THAT AT PRESENT 33 SHELTERS -- SIX ON HONG KONG ISLAND, IN KOWLOON AND 15 IN THE NEW TERRITORIES WERE BEING BUILT.
HE SAID THAT SUGGESTIONS HAD BEEN MADE FOR SOME 117 ADDITIONAL SHELTERS IN THE NEW TERRITORIES ALONE AND THESE WERE BEING EVALUATED BY THE COMMISSIONER FOR TRANSPORT.
ALTHOUGH THE ACTUAL CONSTRUCTION OF THE SHELTERS WAS NORMALLY UNDERTAKEN BY THE GOVERNMENT, ON A REIMBURSEMENT BASIS, HE CONTINUED, THE PUBLIC OMNIBUS SERVICES ORDINANCE REQUIRED THE BUS COMPANIES TO PAY FOR THE SHELTERS.
+THE COMPANIES ARE, HOWEVER, NOW ALLOWED TO LET SPACE IN THE SHELTERS FOR COMMERCIAL ADVERTISING AND THIS SHOULD HELP TO DEFRAY THEIR COSTS, + HE ADDED.
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