N
1
WEDNESDAY, NOVEMBER 11, 1987
MAJOR
"THIRD, IT SHOULD CONSIDER FINANCIAL CENTRES ; AND
COMPARABLE
ARRANGEMENTS IN OTHER
"LASTLY, IT SHOULD USE ITS BEST ENDEAVOURS TO SUBMIT ITS REPORT WITHIN SIX MONTHS; THE COMMITTEE SHALL HAVE THE POWER TO MAKE SUCH INTERIM RECOMMENDATIONS AS IT CONSIDERS NECESSARY IN THE INTEREST OF THE URGENT PROTECTION OF INVESTORS."
MR JACOBS SAID THE FIRST MEETING OF THE COMMITTER SHOULD TAKE PLACE WITHIN THE NEXT 10 DAYS.
HE ADDED: 'I KNOW THAT THE WHOLE COMMUNITY IN HONG KONG WILL RECOGNISE THE IMPORTANCE OF THE COMMITTEE'S TASK AND THEY WILL, I HOPE, GIVE IT EVERY SUPPORT.
"I AM GLAD TO SAY THAT THE CHAIRMEN OF THE STOCK EXCHANGE AND OF THE FUTURES EXCHANGE, ON BEHALF OF THEMSELVES AND OF THE MEMBERS OF THEIR RESPECTIVE COMMITTEES, HAVE PROMISED THEIR FULL CO-OPERATION, AS HAS THE CHAIRMAN OF THE SECURITIES AND COMMODITIES TRADING
COMMISSIONS.
ΤΗ
THE GOVERNMENT INTENDED TO PUBLISH THE COMMITTEE'S
REPORT,
HE
SAID.
HK SHOULD CONTINUE TO PROSPER, SAYS FS
A
THERE IS NO DOUBT THAT THE CRISES IN THE WORLD'S FINANCIAL MARKETS HAVE MADE MORE LIKELY SOME SLOWDOWN IN THE GROWTH RATES OF NUMBER OF MAJOR ECONOMIES AND HONG KONG, WITH ITS HIGH EXPOSURE TO EXTERNAL FORCES, WILL ALMOST CERTAINLY BE AFFECTED, THE FINANCIAL SECRETARY, THE HON PIERS JACOBS, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MR JACOBS SAID THAT IN SUCH AN EXTERNALLY-ORIENTED ECONOMY, THERE WAS NATURALLY LIMITED SCOPE FOR ACTION, BUT, NEVERTHELESS, HONG KONG'S ECONOMY WAS BASICALLY IN GOOD SHAPE. TRADE WAS GROWING RAPIDLY AND UNEMPLOYMENT WAS LOW.
-
-
HE SAID: "AS I HAVE INDICATED IN MY MID YEAR REVIEW AT THE END OF SEPTEMBER WHICH SEEMS A LONG TIME AGO
SOME OF OUR CURRENT PROBLEMS, NOTABLY INFLATION AND SHORTAGE OF LABOUR, ARE ARISING FROM THE FACT THAT OUR PRODUCTIVE CAPACITY IS HAVING SOME DIFFICULTY IN KEEPING UP WITH DEMAND.
/"THESE BOTTLENECK