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THURSDAY, OCTOBER 23, 1980
+LIMITED RESEARCH AND DEVELOPMENT FACILITIES DO EXIST IN A NUMBER OF ACADEMIC AND INDUSTRIAL INSTITUTIONS, BUT THE IR SCOPE CAN IN NO WAY MATCH THE COMMUNITY'S DEMAND FOR HIGHER TECHNOLOGICAL SUPPORT, + HE SAID.
HE HOPED THAT THEY COULD BE GIVEN A SUBSTANTIAL BOOST BY THE GOVERNMENT IN TERMS OF INCREASED FINANCIAL ASSISTANCE AND BETTER COORDINATION.
ON DISTRICT ADMINISTRATION, MR WONG SUGGESTED THAT IN ORDER TO ENHANCE THE SENSE OF RESPONSIBILITY AND BELONGING OF THE PEOPLE IN THE DISTRICT, EACH SHOULD HAVE A CERTAIN PERCENTAGE OF RATES APPORTIONED AS FUNDS FOR FINANCING ITS ACTIVITIES AT THE DISTRICT LEVEL.
+ I HOPE THAT BY SO DOING, THE DISTRICT ADVISORY BOARD WOULD HAVE THE ENTHUSIASTIC SUPPORT OF THE PEOPLE IN THE AREA CONCERNED TO HELP CREATE A BETTER LIVING ENVIRONMENT, MR WONG SAID.
SUPPORT FOR CHANGES IN LAW ON FINANCIAL INSTITUTIONS
*****
INTRODUCTION OF AMENDMENTS TO THE BANK ING ORDINANCE AND THE DEPOSIT-TAKING COMPANIES ORDINANCE ARE BOTH NECESSARY AND TIMELY+, THE HON WILLIAM BROWN SAID TODAY.
IN HIS MAIDEN SPEECH TO THE LEGISLATIVE COUNCIL, MR BROWN POINTED OUT THAT THERE WERE 115 LICENSED BANKS AND NO LESS THAN 278 DEPOSIT-TAK ING COMPANIES OPERATING IN HONG KONG TODAY,
--
THESE STATISTICS, HE SAID, REFLECT THE ENORMOUS INCREASES WHICH HAVE OCCURRED IN THE NUMBERS OF OUR FINANCIAL INSTITUTIONS DURING THE RECENT PAST AND THEY MOST CERTAINLY JUSTIFY THE NEED TO AMEND THE TWO ORDINANCES TO REFLECT THE CHANGING CIRCUMSTANCES.
*THE BENEFITS FOR THE ECONOMY TO BE DERIVED FROM OUR EXPANDING FINANCIAL SECTOR, AND IN PARTICULAR FROM OUR FAST GROWING STATUS AS A REGIONAL FINANCIAL CENTRE ARE MORE EASILY IDENT IF IABLE THAN THE PROBLEMS WHICH ARE INHERENT IN THIS RAPID GROWTH IN THE NUMBER OF FINANCIAL INSTITUTIONS PERMITTED TO OPERATE IN OUR MARKET, HE SAID.
/AND SUCH