TUESDAY, APRIL 21, 1987
6
MR SULKE SAID THIS YEAR'S KEEP HONG KONG CLEAN CAMPAIGN, UNLIKE PREVIOUS CAMPAIGNS WHICH EMPHASISED BIG BROTHER WATCHING YOU+, WOULD APPEAL TO EVERYONE'S BETTER NATURE.
+THIS TIME WE ARE GOING TO TRY AND CHARM OUR FELLOW CITIZENS INTO SOCIAL BEHAVIOUR, HE ADDED.
BEFORE CONCLUDING HIS SPEECH, MR SULKE REITERATED THAT SUPPORT FROM THE PRIVATE SECTOR COULD BE THE CATALYST TO PUT THIS CAMPAIGN INTO THE HANDS OF ALL HONG KONG PEOPLE.
REVISION OF MONETARY STATISTICS PUBLISHED
****
THE MONETARY AFFAIRS BRANCH TODAY (TUESDAY) PUBLISHED REVISED FIGURES FOR FOREIGN CURRENCY DEPOSITS IN THE MONETARY STATISTICS COVERING THE PERIOD JULY 1982 TO FEBRUARY 1987.
THE REVISION OF THE FOREIGN CURRENCY DEPOSIT FIGURES WAS MECESSARY BECAUSE, IN THE MONTHLY MONETARY STATISTICS RETURNS AND OVER THE PAST FEW YEARS, A NUMBER OF DEPOSIT-TAKING COMPANIES MIS-CLASSIFIED THE FOREIGN CURRENCY NOTES AND BONDS THEY ISSUED IN OVERSEAS MARKETS AS CUSTOMER DEPOSITS.
AS A RESULT OF THESE REVISIONS, CHANGES WERE ALSO REQUIRED IN OTHER RELATED FIGURES INCLUDING TOTAL DEPOSITS AND TOTAL MONEY SUPPLY M3 FOR THE PERIOD IN QUESTION.
A SPOKESMAN FROM THE MONETARY AFFAIRS BRANCH POINTED OUT THAT THE REVISED FIGURES REPRESENTED ONLY SMALL ADJUSTMENTS TO THE ORIGINAL FIGURES AND THAT THERE WAS NO MAJOR CHANGE IN THE GENERAL PATTERN OF GROWTH IN FOREIGN CURRENCY DEPOSITS ARISING FROM THESE REVISIONS.
FOR EXAMPLE, REVISED TOTAL FOREIGN CURRENCY DEPOSITS FOR ALL DEPOSIT-TAKING INSTITUTIONS, AS AT THE END OF 1986, ARE ADJUSTED DOWNWARDS BY $11.9 BILLION, REPRESENTING A DECREASE OF 3.7 PER CENT FROM THE ORIGINAL FIGURE OF $317.4 BILLION THE ANNUAL GROWTH RATES OF THESE DEPOSITS FOR THE YEARS 1984, 1985 AND 1986 ARE REVISED FROM 26.2 PER CENT, 35.2 PER CENT AND 34.0 PER CENT TO 20.2 PER GENT, 35.2 PER CENT AND 39.7 PER CENT, RESPECTIVELY.
THE SPOKESMAN SAID THAT THE MIS-CLASSIFICATION HAS BEEN CORRECTED AND THAT, AS FROM THE NEXT REGULAR RELEASE OF THE MONTHLY MONETARY STATISTICS -- AT THE END OF APRIL FOR THE MONTH OF MARCH -- THE REVISED FIGURES AND SERIES OF FOREIGN CURRENCY DEPOSITS OF DEPOSIT-TAKING COMPANIES WOULD BE USED.
17