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FRIDAY, AUGUST 31, 1984
+ I THINK WE HAVE AGREED THAT WE SHOULD PROBABLY HAVE REGULAR CONSULTATIONS OR DISCUSSIONS WITH THESE ORGANISATIONS, PERHAPS GOING BEYOND THIS PARTICULAR ISSUE, HE ADDED.
SPEAKING FOR MANY OF THE ORGANISATIONS, THE EXECUTIVE DIRECTOR OF THE HONG KONG GENERAL CHAMBER OF COMMERCE, MR J.D. MCGREGOR, SAID THAT, FOLLOWING THIS MORNING'S MEETING, THE ORGANISATIONS WOULD HAVE FURTHER DISCUSSIONS IN SETTING UP SOME FORM OF DIRECT SYSTEM OF LIAISON BETWEEN THE MAIN ORGANISATIONS NOT ONLY TO DEAL WITH THIS MATTER BUT MANY OTHER MATTERS, WHICH, AS HE PUT IT, +WE ARE GOING TO FACE IN TIME TO COME.+
IN EMPHASISING THE NEED FOR CO-ORDINATION BETWEEN ORGANISATIONS WHICH HAD SIMILAR MOTIVES, MR MCGREGOR SAID: +WE HAVE VERY MANY MAJOR ORGANISATIONS IN HONG KONG, SOME OF WHICH ARE REPEATING OR CROSSING PATHS OCCASIONALLY.+
+THE FEDERATION OF HONG KONG INDUSTRIES, THE C.M.A., AND OURSELVES (THE HONG KONG GENERAL CHAMBER OF COMMERCE) HAVE ALREADY ESTABLISHED A TRIUMVIRATE OF MAJOR ORGANISATIONS.+
MR MCGREGOR SAID THAT THE AMERICAN CHAMBER OF COMMERCE WAS DIRECTLY INVOLVED AND SO WERE MANY OF THE OTHER EXPORTERS ASSOCIATIONS, THE INDIAN CHAMBER AND THE CHINESE GENERAL CHAMBER.
SPEAKING ON BEHALF OF THE HONG KONG EXPORTERS ASSOCIATION, MR R.J.N. SIDNEY-WOOLLETT, SAID THE TRADE ASSOCIATIONS FELT THAT THE HONG KONG GOVERNMENT HAD ACTED QUICKLY AND HAD RESPONDED TO THIS THREAT TO HONG KONG'S TRADE IN A VERY GOOD WAY.
+WE HAVE BEEN VERY IMPRESSED, HE SAID.
MR SIDNEY-WOOLLETT, WHO ENDORSED MR MCGREGOR'S REMARKS, SAID THE SITUATION HAD CRYSTALLISED A MOVEMENT FOR ALL THE DIFFERENT TRADE ASSOCIATIONS, WHO HAD SLIGHTLY DIFFERENT INTERESTS IN DIFFERENT WAYS, TO GET TOGETHER AND FORM A VERY UNITED FRONT IN WHAT COULD BE THE FIRST OF POSSIBLY MANY THREATS TO HONG KONG'S TRADE IN THE FUTURE.
BANK SIZE LIMITS UNCHANGED
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THERE WILL BE NO CHANGES THIS YEAR IN THE SIZE CRITERIA FOR BANK ING LICENCE APPLICATIONS.
THE DECISION WAS TAKEN BY THE GOVERNOR-IN-COUNCIL FOLLOWING THE ANNUAL REVIEW OF THE CRITERIA, WHICH ARE:
FOR FOREIGN BANKS
TOTAL ASSETS, LESS CONTRA ITEMS, OF AT LEAST US$12 000 MILLION OR EQUIVALENT AND
FOR COMPANIES