FRIDAY, JANUARY 16, 1987
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BAN ON SMOKELESS TOBACCO TAKES EFFECT
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REGULATIONS PROHIBITING THE IMPORTATION, MANUFACTURE, SALE, POSSESSION FOR SALE, OFFERING OR EXPOSING FOR SALE, CONSIGNING OR DELIVERING OF SMOKELESS TOBACCO PRODUCTS WERE GAZETTED AND CAME INTO EFFECT TODAY (FRIDAY) FOLLOWING THE IR APPROVAL BY THE GOVERNOR IN COUNCIL LAST WEEK.
THE REGULATIONS WERE MADE UNDER THE PUBLIC HEALTH AND MUNICIPAL SERVICES ORDINANCE, FOR HEALTH REASONS, CONSEQUENT TO THE LATEST INTERNATIONAL AND LOCAL EXPERT ADVICE ON THE DANGERS OF SMOKELESS TOBACCO PRODUCTS.
FOREIGN INVESTMENT SHOWS CONFIDENCE IN HK'S FUTURE
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FOREIGN INVESTMENT. BE IT IN THE SERVICE INDUSTRIES. MANUFACTURING, REAL ESTATE OR THE MONEY AND CAPITAL MARKET, HAS CONTINUED TO FLOW INTO HONG KONG IN THE LAST COUPLE OF YEARS SINCE THE SIGNING OF THE SINO-BRITISH AGREEMENT, DIRECTOR OF HONG KONG ECONOMIC AFFAIRS IN SAN FRANCISCO, MR BILLY LAM, SAID TODAY (HONG KONG TIME).
ADDRESSING SOME BO MEMBERS OF THE SOUTHERN CALIFORNIAN CREDIT MANAGERS ASSOCIATION IN LOS ANGELES, MR LAM SAID THAT DESPITE SOME UNCERTAINTIES WHICH SURFACED DURING THE PERIOD OF SERIOUS NEGOTIATIONS ON HONG KONG'S FUTURE, ITS HIGHLY EXTERNALLY ORIENTED MARKET ECONOMY CONTINUED TO PERFORM WELL, WITH INCREASING FOREIGN INVESTMENT EVIDENCE OF THE CONFIDENCE IN HONG KONG'S FUTURE.
POINTING OUT THAT IN ADDITION TO INVESTMENT FROM THE TRADITIONAL SOURCES OF SOUTHEAST ASIA, INVESTMENT FROM JAPAN AND THE UNITED STATES AND, MOST RECENTLY AUSTRALIA, HAD INCREASED SIGNIFICANTLY.
MR LAM CITED TWO MAJOR PROJECTS IN WHICH FOREIGN INVESTMENT IS CURRENTLY PLAYING A KEY ROLE: THE U.S.$128 MILLION SIX-STOREY CONTAINER FREIGHT STATION EXTENSION, A JOINT PROJECT OF SEALAND ORIENT, NEW WORLD DEVELOPMENT AND R.J. REYNOLDS TOBACCO COMPANY, AND THE U.S.$436 MILLION SECOND CROSS-HARBOUR TUNNEL PROJECT, JOINT VENTURE OF JAPANESE, BRITISH AND CHINESE INVESTMENT.
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+AT THE END OF 1985, FACTORIES WHOLLY OR PARTLY OWNED BY OVERSEAS INTERESTS ACCOUNTED FOR 11 PER CENT OF TOTAL INDUSTRIAL EMPLOYMENT,+ MR LAM NOTED. HE SAID THAT HONG KONG WAS OF GROWING IMPORTANCE TO CHINA TOO, WITH CHINESE INVESTMENT IN THE TERRITORY ESTIMATED AT FOUR TO SIX BILLION U.S. DOLLARS.
/+THR NEW