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TUESDAY, NOVEMBER 18, 1986
+WHAT THE INDUSTRY DEPARTMENT STANDS READY TO DO, IS TO ACT AS AN HONEST BROKER, ASSISTING VENTURE CAPITAL FIRMS ÎN IDENTIFYING THOSE OVERSEAS MANUFACTURING FIRMS THAT ARE INTERESTED IN INVESTING IN HONG KONG AND HAVE USEFUL TECHNOLOGY TO OFFER.+
HE ALSO SAID THAT IT WOULD BE PRESUMPTUOUS OF HIM TO ADVISE BANKS AS TO HOW THEY SHOULD RESPOND TO THE PROVISION OF VENTURE CAPITAL, ADDING THAT WHETHER A VENTURE SHOULD BE BY WAY OF LOAN OR MAYBE PARTICIPATION WAS A MATTER OF JUDGMENT BY INDIVIDUAL BANKS.
+CLEARLY THE SKILLS SOME BANKERS HAVE IN MANAGING SHAREHOLDINGS, ASSESSING CREDIT-WORTHINESS, AND ANALYSING MARKET PROSPECTS COULD WELL CONTRIBUTE TO ANY NEW VENTURE. BUT THIS DEGREE OF PARTICIPATION MUST BE LEFT TO THE DECISION OF INDIVIDUAL BANKS.+
HE SAID HE WAS AWARE THAT THE ASSOCIATION HAD ESTABLISHED
A WORKING PARTY ON THE SUBJECT WITH BALANCED REPRESENTATION FROM BANKS, INDUSTRY AND THE GOVERNMENT ITSELF.
+THIS WORKING PARTY IS CONSIDERING THE WHOLE ISSUE. WELCOME THIS INITIATIVE AND LOOK FORWARD TO STUDYING ITS FINDINGS, + HE ADDED.
I
IMPORTANCE OF EFFICIENT HK PORT STRESSED *****
HONG KONG HAS TO MAINTAIN A PORT WITH SUFFICIENT CAPACITY AND A HIGH LEVEL OF OPERATIONAL EFFICIENCY TO SUPPORT THE GROWTH OF ITS ECONOMY, THE CHINA TRADE AND THE TRADING REQUIREMENTS OF THE SOUTHEAST ASIAN REGION.
THIS WAS STATED TODAY (TUESDAY) BY THE SECRETARY FOR ECONOMIC SERVICES, MR JOHN YAXLEY, WHEN HE ADDRESSED THE SECOND DAY MEETING OF THE 1986 SEATRADE HONG KONG CONFERENCE.
HE POINTED OUT THAT IN 1985 HONG KONG'S OVERALL EXTERNAL TRADE WAS WORTH HK$476 BILLION AND THE GROSS VALUE WOULD BE EVEN HIGHER IF TRANSHIPMENT WAS INCLUDED.
IN TERMS OF WEIGHT, TOTAL INWARD AND OUTWARD CARGO CARRIED BY ALL MODES OF TRANSPORT AMOUNTED TO OVER 58 MILLION TONNES. OVER
REFLECTING 90 PER CENT OF THIS TOTAL TONNAGE WAS HANDLED AT THE PORT, THE DOMINANT ROLE PLAYED BY SEA TRANSPORT, MR YAXLEY SAID.
/+OVER THE