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MONDAY,
SEPTE
13
WHICH "WE HAVE A NEW SECURITIES AND FUTURES COMMISSION,
FINANCIAL FOR THE SUPERVISION OF THE SECURITIES,
WHICH RESPONSIBLE INVESTMENT AND COMMODITIES FUTURES INDUSTRIES IN HONG KONG, AND
SIR DAVID SAID. HAS GREATER REGULATORY POWERS THAN ITS PREDECESSOR,
**
"THE EFFECTIVENESS OF THESE REFORMS WAS SHOWN VERY CLEARLY
SURVIVED SECTOR FINANCIAL HONG KONG'S WHICH WAY WITH
HE ADDED. UNCERTAINTY CAUSED BY EVENTS IN CHINA IN MAY AND JUNE,'
THE
BY
THE
WITH
THREE WEEKS.
THE THEIR
"THE STOCK MARKET LOST A THIRD OF ITS VALUE IN THERE WAS A RUN ON MAINLAND CHINESE BANKS, BUT BOTH EXCHANGES AND
CRISIS. THEY EMERGED BANKING SYSTEM WEATHERED THE
THE GOVERNOR NOTED. REPUTATION ENHANCED,
SIR
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HONG KONG WAS OVER- NOT THINK THAT SAID HE DID DAVID REGULATED ALTHOUGH THERE WAS THE OCCASIONAL COMPLAINT OF IT BEING SO.
SO, THE "INDEED WE ARE DETERMINED THAT IT SHOULD NOT BECOME GOVERNMENT IS ACUTELY CONSCIOUS OF THE NEED TO AVOID OVER-REGULATION, HE SAID.
"IT COULD STIFLE THE VIGOUR AND INNOVATION COMMUNITY ON WHICH WE DEPEND.
OF OUR BUSINESS
HAVE
"BUT, EQUALLY, WE KNOW FROM EXPERIENCE, AND RECENT EVENTS PROVED, THAT UNDER-REGULATION DOES NOT PROVIDE ADEQUATE SAFEGUARDS FOR THE COMMUNITY AND DOES NOT CREATE THE DEGREE OF INTERNATIONAL INVESTOR CONFIDENCE THAT A MAJOR INTERNATIONAL TRADING TERRITORY LIKE HONG KONG
THE GOVERNOR SAID. MUST HAVE TO SURVIVE AND PROSPER,
"
"THAT IS WHY IN HONG KONG WE WILL CONTINUE TO STRIVE FOR
THE RIGHT BALANCE BETWEEN OVER- AND UNDER-REGULATION,
THE
GOLDEN MEAN HE ADDED.
SWAC ENDORSES STRATEGY ON SERVICES FOR THE ELDERLY
ENDORSED A ELDERLY AT ITS
THE SOCIAL WELFARE ADVISORY COMMITTEE (SWAC) TWO-PART STRATEGY ON IMPROVEMENT OF SERVICES FOR THE MEETING TODAY (MONDAY).
NOT HAVE TO THE COMMITTEE ADVISED THAT IMPROVEMENTS WHICH DO
AS IMPLEMENTED AS SOON COMPETE FOR FINANCIAL RESOURCES SHOULD BE
THOSE WHICH HAVE TO PRACTICABLE WHILE PRIORITIES SHOULD BE SET FOR
AND BE IMPLEMENTED AS RESOURCES COMPETE FOR THE SCARCE RESOURCES. PERMIT.
/PRESENTING THE