5
-
FRIDAY, APRIL 7, 1989
NO
THAT IS, THEY WILL HAVE A MINIMUM WAGE RATE WHICH WILL BE LESS THAN THE CURRENT MARKET RATE IN HONG KONG. THEY WILL HAVE PROPER ACCOMODATION PROVIDED FOR THEM. THEY WILL TRAVEL UNDER OFFICIAL TRAVEL DOCUMENTS THAT WILL BE TIME-BARRED TO ENSURE THAT THEY RETURN AT THE END OF THEIR CONTRACT.
"THESE ARE THE SORT OF AREAS WHICH ARE FUNDAMENTAL ELEMENTS OUR CURRENT POLICY AND WHICH WILL BE CARRIED FORWARD INTO THE ARRANGEMENTS TOO."
ADDED.
IN
NEW
DETAILS OF THE NEW ARRANGEMENTS WOULD BE ANNOUNCED LATER, HE
ASKED WHICH COUNTRIES WOULD THIS LABOUR COME FROM, SIR DAVID SAID IT WOULD BE UP TO PEOPLE WHO WISHED TO EMPLOY LABOUR ΤΟ COME FORWARD WITH THEIR PROPOSALS AS UNDER THE EXISTING POLICY THE GOVERNMENT WERE NOT IMPOSING RESTRICTIONS ON WHERE THEY SOUGHT THAT LABOUR FROM.
PEOPLE
"THE IMPORTATION OF SKILLED LABOUR, AND PROFESSIONAL TOO, TO MEET THE GAPS WHICH ARE CURRENTLY BEING CAUSED BY THE BRAIN DRAIN IS A SHORT TERM OPTION. THE LONG TERM OPTION IS TO BUILD UP TIE SKILLED AND PROFESSIONAL ABILITY WITHIN THE COMMUNITY AS A WHOLE, THE CHIEF SECRETARY STRESSED.
"WE MUST MAKE SURE OUR TRAINING PROGRAMMES AT ALL LEVELS ARE UP TO THE MARK AND WE ARE REPLENISHING THE PEOPLE WHO GO.
|
"THAT CERTAINLY IS WHAT WE ARE AIMING TO DO, SIR DAVID SAID.
FS SUPPORTS STEPS TO RECONSTITUTE THE HK FUTURES EXCHANGE * * * * * * *
THE FINANCIAL SECRETARY, MR PIERS JACOBS, TODAY (FRIDAY) GAVE HIS SUPPORT TO THE STEPS TAKEN BY THE BOARD OF DIRECTORS OF THE FUTURES EXCHANGE TO CONTINUE THEIR EFFORTS IN RELATION 'TO THE RECONSTITUTION OF THE EXCHANGE.
THIS SUPPORT FOLLOWED A DECISION BY THE BOARD OF THE FUTURES EXCHANGE TO CALL FOR A THIRD EXTRAORDINARY GENERAL MEETING ON MAY 9 TO RECONSTITUTE ITSELF ALONG THE LINES RECOMMENDED BY THE SECURITIES REVIEW COMMITTEE.
"GIVEN THE VERY ENCOURAGING RESULTS OF THE LAST EGM AND THE SIGNIFICANT PROGRESS ALREADY MADE BY THE EXCHANGE IN THE ESTABLISHMENT OF A NEW CLEARING SYSTEM TO REFORM ITS RISK MANAGEMENT STRUCTURE, 1 HAVE LITTLE DOUBT THAT OUR FUTURES MARKETS SHOULD CONTINUE TO STRENGTHEN, SAID MR JACOBS.
"I UNDERSTAND THAT THE EXCHANGE WILL SHORTLY SUBMIT 1TS PROPOSAL TO INTRODUCE AN INTEREST RATE FUTURES CONTRACT ΤΟ THE GOVERNMENT. IN VIEW OF THE INTEREST IN THIS INSTRUMENT, WE SHALL PROCESS THIS PROPOSAL AS SOON AS PRACTICABLE TAKING FULL ACCOUNT OF THE STRUCTURE OF THE RISK MANAGEMENT SYSTEM," HE ADDED.
16