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WEDNESDAY, NOVEMBER 8, 1989
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"OUR INTEREST IN PECO LIES MAINLY IN THE AREA OF TRADE POLICY. THE DEPUTY SECRETARY FOR TRADE AND INDUSTRY AND LEADER OF THE HONG KONG DELEGATION. MR MICHAEL CARTLAND. SAID TODAY WEDNESDAY).
"AS A SIGNIFICANT TRADING ENTITY ACCOUNTING FOR
2.2 PER CENT OF TOTAL WORLD MERCHANDISE TRADE. AND GIVEN OUR STRATEGIC POSITION THE RAPIDLY DEVELOPING ASIA-PACIFIC REGION. DEFINITELY HAVE A ROLE TO PLAY IN THIS REGIONAL CARTLAND ADDED.
IN HONG KONG SHOULD ECONOMIC FORUM. MR
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MR CARTLAND NOTED THAT HONG KONG'S TRADING LINKS WITH ECONOMIES IN THE REGION HAVE BEEN STEADILY EXPANDING.
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'INTRA-REGIONAL TRADE AS A PROPORTION OF OUR TOTAL EXTERNAL TRADE HAS GROWN FROM 46 PER CENT A DECADE AGO TO 60 PER CENT TODAY. HE SAID.
ACTIVE
ATTENDANCE AS AN OBSERVER AT A MAJOR PECC MEETING AND PARTICIPATION IN THE WORK OF PECC AND ITS VARIOUS TASK FORCES AND STUDY GROUPS ARE PREREQUISITES FOR FULL MEMBERSHIP.
INDIVIDUAL GOVERNMENT OFFICIALS AND ACADEMICS FROM HONG KONG HAVE ATTENDED MEETINGS OF THE PECC IN THE PAST. HOWEVER, THIS IS THE FIRST TIME THAT HONG KONG HAS BEEN INVITED TO SEND A DELEGATION WITH OBSERVER STATUS.
PARTICIPATION IN PECC IS TRIPARTITE: DELEGATIONS CONSIST OF GOVERNMENT OFFICIALS IN A PERSONAL CAPACITY, BUSINESS LEADERS AND
ACADEMICS/PROFESSIONALS.
OTHER MEMBERS OF THE HONG KONG DELEGATION ARE MR MATTHEW CHEUNG KIN-CHUNG. ASSISTANT DIRECTOR-GENERAL OF TRADE: MRS ELEANOR LING. DIRECTOR OF JARDINE PACIFIC LTD AND MEMBER OF THE TRADE ADVISORY BOARD: AND DR LIU PAK-WAI. SENIOR LECTURER IN ECONOMICS. THE CHINESE UNIVERSITY OF HONG KONG.
MID-YEAR EXPENDITURE AND REVENUE UPDATED
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THE GOVERNMENT HAS UPDATED ITS MID-YEAR EXPENDITURE AND REVENUE FOR THE CURRENT FINANCIAL YEAR BASED ON ACTUAL FIGURES TO THE END OF SEPTEMBER, A GOVERNMENT SPOKESMAN SAID TODAY (WEDNESDAY).
"IT IS NOW EXPECTED THAT THERE WILL BE A SOMEWHAT LOWER OVERALL SURPLUS OF ABOUT $10.2 BILLION COMPARED WITH THE ESTIMATE OF $11.5 BILLION," THE SPOKESMAN SAID.
"EXPENDITURE IS NOW EXPECTED TO BE HIGHER THAN ESTIMATED LARGELY BECAUSE OF HIGHER CONSTRUCTION COSTS OF CAPITAL WORKS AND ADDITIONAL EXPENDITURE ON THE ACQUISITION OF LAND.
/"REVENUE FROM