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MONDAY, NOVEMBER 18, 1985
+AFTER THREE DIFFICULT YEARS, HE ADDED, +CAUSED IN PART BY A DECLINE IN REVENUE FROM LAND SALES, WE ARE NOW ON TRACK FOR A RETURN TO A BALANCED BUDGET. +
SIR EDWARD SAID THAT THE RETURN OF CONFIDENCE HAD BEEN HELPED BY THE CLEAR COMMITMENT BY THE BRITISH AND CHINESE GOVERNMENTS TO THE FAITHFUL IMPLEMENTATION OF THE AGREEMENT AND TO ENSURING A SMOOTH TRANSITION IN 1997.
HE SAID THAT THE SINO-BRITISH JOINT LIAISON GROUP MADE AN ENCOURAGING START IN JULY IN DISCUSSING MATTERS SUCH AS HONG KONG'S CONTINUED PARTICIPATION AFTER 1997 IN THE GENERAL AGREEMENT ON TARIFFS AND TRADE AND IN THE ASIAN DEVELOPMENT BANK.
IT WOULD BE HOLDING ITS SECOND MEETING NEXT WEEK, SIR EDWARD TOLD THE GATHER ING.
ELABORATING FURTHER ON THE SAME SUBJECT, HE SAID THAT THE LAND COMMISSION HAD MADE EXCELLENT PROGRESS IN ENSURING THAT LAND WOULD CONTINUE TO BE MADE AVAILABLE TO MEET HONG KONG'S FUTURE DEVELOPMENT REQUIREMENTS.
THE ACTIVITIES OF THE COMMISSION ATTRACTED LITTLE ATTENTION ABROAD, BUT ANOTHER HISTORIC MILESTONE WAS REACHED A FEW MONTHS AGO WHEN LEASES TO LAND IN THE NEW TERRITORIES WERE SOLD WITH
+FIRM AND TERMS NOT UP TO 1997 AS BEFORE BUT UP TO 2047 -- SUBSTANTIAL PROOF OF THE INTENTIONS OF BOTH GOVERNMENTS TO HONOUR THE TERMS OF THE JOINT DECLARATION+.
THE GOVERNOR SAID THAT THE HONG KONG GOVERNMENT, FOR ITS PART, HAD DEMONSTRATED ITS CONFIDENCE IN THE FUTURE BY MAINTAINING ITS AMBITIOUS DEVELOPMENT PROGRAMMES.
+PLANS ARE NOW WELL ADVANCED FOR LONG-TERM DEVELOPMENT IN THE 1990'S AND BEYOND. INCLUDING MAJOR IMPROVEMENTS TO HONG KONG'S ROAD AND RAIL NETWORKS, PORT FACILITIES AND THE AIRPORT, HE SAID.
+OUR PLANS WILL ENSURE THAT THERE IS AN ADEQUATE SUPPLY OF LAND COMING ON STREAM TO MEET THE NEEDS OF OUR AMBITIOUS HOUSING PROGRAMMES, AND TO PROVIDE FOR COMMERCIAL AND INDUSTRIAL EXPANSION, HE ADDED.
TURNING TO THE IMPROVEMENT IN TIES WITH CHINA, SIR EDWARD SAID HONG KONG WAS ALSO DEVELOPING A TRULY SYMBIOTIC RELATIONSHIP WITH ITS MAINLAND NEIGHBOUR+.
HONG KONG NOW PLAYED AN INCREASINGLY IMPORTANT ROLE IN THE AMBITIOUS PROGRAMMES OF ECONOMIC MODERNISATION BEING PURSUED IN CHINA.
+THE TOTAL VOLUME OF DIRECT VISIBLE TRADE BETWEEN HONG KONG AND THE MAINLAND GREW FROM $6.97 BILLION IN 1978 TO $38.92 BILLION IN 1984.
/+THE VALUE