FRIDAY, MARCH 27, 1987
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THREE BANKS GRANTED LICENCES
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TWO ITALIAN BANKS AND A JAPANESE BANK HAVE BEEN GRANTED BANKING LICENCES TO CONDUCT BUSINESS IN HONG KONG, A NOTICE TO THIS EFFECT WAS GAZETTED TODAY (FRIDAY).
A GOVERNMENT SPOKESMAN SAID THE THREE BANKS WERE CASSA DI RISPARMIO DELLE PROVINCIE LOMBARDIE AND BANCO DI NAPOLI OF ITALY, AND THE BANK OF FUKUOKA, LTD, OF JAPAN.
+ESTABLISHED IN 1823, THE CASSA DI RISPARMIO DELLE PROVINCIE LOMBARDIE HAS HAD A PRESENCE IN HONG KONG IN THE FORM OF REPRESENTATIVE OFFICE SINCE 1982. THE OTHER ITALIAN BANK, BANCO DI NAPOLI WAS A CHARITABLE INSTITUTION WHEN ORIGINALLY ESTABLISHED IN 1539. HOWEVER, IT NOW CARRIES ON ALL THE MAIN ACTIVITIES OF A COMMERCIAL BANK, IT HAS NOT HAD A PRESENCE IN HONG KONG BEFORE,+ HE SAID.
+THE BANK OF FUKUOKA, LTD. WAS ESTABLISHED IN JAPAN IN 1945 AND IS CLASS IF IED AS A REGIONAL BANK. IT OPENED A REPRESENTATIVE OFFICE IN HONG KONG IN 1985, + HE ADDED.
THE SPOKESMAN SAID THAT THE CONTINUING INTEREST OF FOREIGN BANKS IN OBTAINING HONG KONG BANKING LICENCES REFLECTED HONG KONG'S DEVELOPING ROLE AS A MAJOR INTERNATIONAL FINANCIAL CENTRE.
THE GRANTING OF THESE LICENCES BRINGS THE TOTAL NUMBER OF LICENSED BANKS IN HONG KONG TO 154 OF WHICH 119 ARE INCORPORATED OUTSIDE HONG KONG.
LICENSING OF PUBLIC TELECOMMUNICATION SERVICES
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THE GOVERNMENT TODAY (FRIDAY) GAZETTED PROPOSED AMENDMENTS TO THE TELECOMMUNICATIONS ORDINANCE TO BRING VARIOUS LICENSING ORDERS IN LINE WITH CHANGING TECHNOLOGY.
UNDER THE AMENDMENTS INDIVIDUAL CUSTOMERS OF PUBLIC TELECOMMUNICATION SERVICES WILL CONTINUE TO BE EXEMPT FROM LICENSING. HOWEVER, THE AMENDMENTS WILL ENSURE THAT THE COMMERCIAL PROVIDERS OF SUCH PUBLIC SERVICES ARE ALL REQUIRED TO BE LICENSED.
THE EFFECT OF THE AMENDMENTS IS NOT TO RESTRICT COMPETITION IN THE PROVISION OF TELECOMMUNICATIONS SERVICES, RATHER THEY WILL ENSURE THAT COMPETITIVE TELECOMMUNICATIONS SERVICES ARE PROVIDED WITHIN AN ORDERLY LICENSING FRAMEWORK.
A GOVERNMENT