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WEDNESDAY, JANUARY 18, 1984
GOVERNOR RETURNING TOMORROW
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THE GOVERNOR, SIR EDWARD YOUDE AND LADY YOUDE WILL BE RETURNING TO HONG KONG TOMORROW (THURSDAY) WITH UNOFFICIAL MEMBERS OF THE EXECUTIVE COUNCIL.
THEY WILL LEAVE LONDON ON FLIGHT BR 382, AND THEIR ESTIMATED TIME OF ARRIVAL IN HONG KONG IS 6.20 PM.
UNOFFICIAL MEMBERS OF THE EXECUTIVE COUNCIL WHO WILL ACCOMPANY SIR EDWARD ON HIS RETURN TRIP WILL INCLUDE SIR S.Y. CHUNG, MR ROGER LOBO, MR MICHAEL SANDBERG, MR T.S. LO, MISS LYDIA DUNN AND MISS MARIA TAM.
A PRESS FACILITY HAS BEEN ARRANGED FOR PHOTOGRAPHERS AND CAMERAMEN TO COVER THE GROUP'S ARRIVAL. THEY SHOULD ASSEMBLE IN THE PRESS CONFERENCE ROOM ON THE GROUND FLOOR OF THE AIRPORT TERMINAL NOT LATER THAN 5.20 PM TOMORROW.
NEW BANK OF CHINA SITE GRANT SIGNED
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THE CONDITIONS OF GRANT FOR THE SITE IN CENTRAL ON WHICH THE NEW BANK OF CHINA BUILDING WILL BE CONSTRUCTED WERE SIGNED TODAY (WEDNESDAY).
MR CHEN HUNG, SENIOR DEPUTY GENERAL MANAGER, SIGNED FOR THE BANK OF CHINA, WHILE THE DIRECTOR OF LANDS, MR JOHN TODD, SIGNED FOR THE GOVERNMENT.
THE BANK OF CHINA AGREED TO BUY THE SITE, BOUNDED BY GARDEN ROAD, QUEENSWAY AND COTTON TREE DRIVE, IN AUGUST, 1982, FOR A PREMIUM OF $1 000 MILLION. UNDER THE TERMS OF THE AGREEMENT, THE BANK HAS MADE THE INITIAL DOWN PAYMENT OF $60 MILLION AND THE BALANCE WILL BE PAID IN 13 EQUAL ANNUAL INSTALMENTS.
MR CHEN SAID IT WAS HIS GREAT PLEASURE TO CONCLUDE ON BEHALF OF THE BANK OF CHINA A TREATY GRANT WITH THE LANDS DEPARTMENT OF THE HONG KONG GOVERNMENT IN RESPECT OF THE NEW BANK BUILDING SITE.
+IN VIEW OF THE EXPANDING HONG KONG ECONOMY, ESPECIALLY IN RELATION TO ITS EXPECTED PROSPERITY, THE MANAGEMENT OF THIS BANK HAD LONG CONTEMPLATED AND WENT INTO NEGOTIATION IN LATE 1981 WITH THE HONG KONG GOVERNMENT - THE PURCHASE OF A GOOD SIZE SITE
IN CENTRAL ON WHICH TO ERECT A NEW BUILDING TO COPE WITH THE FUTURE NEEDS OF THIS BANK.
+TO DO THE DESIGNING, MR 1.M. PEI, THE WORLD FAMOUS UNITED STATES ARCHITECT OF CHINESE DESCENT, HAS BEEN ENGAGED. BESIDES THE BUILDING ITSELF, MR PE HAS ALSO DEVOTED GREAT EFFORT IN DESIGNING A CIRCULATING TRAFFIC SYSTEM AND SURFACE LANDSCAPING.
41 WOULD