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WEDNESDAY, OCTOBER 31, 1979
ON THE HONG KONG ECONOMY IN GENERAL, MR. CHEN AGREED WITH THE FISCAL AND MONETARY MEASURES TAKEN BY THE GOVERNMENT SINCE THE BEGINNING OF THE YEAR TO COMBAT INFLATION AND TO RESTRICT THE GROWTH OF CREDIT CREATION,
HE THOUGHT THAT AFTER A CONTINUOUS THREE OR POSSIBLY FOUR YEARS OF RAPID ECONOMIC GROWTH, A TEMPORARY SLOW-DOWN FOLLOWING THE TREND OF THE WORLD ECONOMY MAY NOT NECESSARILY BE A BAD THING FOR HONG KONG.
+IT WOULD GIVE OUR INDUSTRY AN OPPORTUNITY TO CONSOLIDATE AND MAKE NECESSARY ADJUSTMENTS, SUCH ADJUSTMENTS SHOULD AIM AT UPGRADING PRODUCTION FACILITIES AND TECHNIQUES AND IMPROVING THE QUALITY AND SKILLS OF THE WORK FORCE SO THAT OUR INDUSTRY WOULD BE IN A POSITION TO RESPOND QUICKLY TO AND TO TAKE ADVANTAGE OF RENEWED MARKET DEMAND ONCE THE ECONOMY OF THE INDUSTRIALISED COUNTRIES PICKS UP AGAIN, HE SAID.
HE THEREFORE APPEALED AGAIN TO THE GOVERNMENT, ASKING IT TO INVEST IN DEVELOPING HONG KONG'S MANPOWER RESOURCES AND IN BUILDING AN EFFICIENT INDUSTRIAL INFRA-STRUCTURE.
+ONLY WITH GREATER COMMITMENTS ON THE PART OF BOTH THE GOVERNMENT AND THE PRIVATE SECTOR CAN WE HOPE TO PRESERVE WHAT WE HAVE ACHIEVED AND TO STRIVE FOR GREATER PROSPERITY,
HE SAID.
HE WAS ALSO CONCERNED THAT THE NEW TOWNS IN THE NEW TERRITORIES SHOULD BE DEVELOPED INTO SELF-CONTAINED COMMUNITIES.
WHILE IT IS ENCOURAGING TO SEE THAT UP TO THE END OF SEPTEMBER, NO LESS THAN 748 000 SQUARE METRES OF FACTORY SPACE HAVE BEEN BUILT IN THE NEW TOWNS, IT IS IMPORTANT TO KNOW HOW MUCH OF THIS SPACE HAS BEEN TAKEN UP AND AT WHAT RATE IT IS BEING TAKEN UP, AND WHETHER THERE ARE SUFFICIENT INCENTIVES TO ENCOURAGE RAPID OCCUPATION AND FULL UTILISATION OF THIS SPACE AS A MEANS OF BRINGING ABOUT EMPLOYMENT OPPORTUNITIES FOR THE RESIDENTS, HE SAID.
IF THE RESIDENTS HAVE TO FIND EMPLOYMENT ELSEWHERE, THE GOVERNMENT MAY HAVE TO SPEND HUGE SUMS OF MONEY IN EXPANDING THE TRANSPORT SYSTEM, HE SUGGESTED THAT IT IS PRUDENT NOW TO REASSESS THE SUPPLY AND DEMAND SITUATION BEARING IN MIND THE ORIGINAL OBJECTIVE OF THE DEVELOPMENT OF THE NEW TOWNS, SO THAT CORRECTIVE STEPS IF NEEDED, COULD BE TAKEN AT THIS CRUCIAL STAGE OF THE DEVELOPMENT.
FIVE-DAY WORKING WEEK ADVOCATED *****
THE HON. LEUNG TAT-SHING ADVOCATED A FIVE-DAY WORKING WEEK FOR HONG KONG AND ASKED THE GOVERNMENT TO CONDUCT A FEASIBILITY STUDY WITH A VIEW TO IMPLEMENTING IT IN DUE COURSE.
HE SAID
SPEAKING IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY) A FIVE-DAY WEEK HAS LONG BEEN THE PRACTICE IN MOST DEVELOPED COUNTRIES SUCH AS THE UK AND THE USA WHERE MOST WORKERS DO 40 HOURS OR LESS A WEEK.
HONG KONG
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