TUESDAY, JUNE 26, 1990
AFTER THE
"IT IS NOTEWORTHY THAT THIS IS DIFFERENT FROM THE EXPERIENCE OF THE CARIBBEAN CENTRES WHOSE FINANCIAL BUSINESS DIMINISHED SETTING UP OF THE NEW YORK INTERNATIONAL BANKING FACILITIES.
"BUT A CRUCIAL DIFFERENCE BETWEEN THE ASIAN AND THE CENTRES IS THAT THE FORMER ARE NOT MERELY BOOKING CENTRES. CENTRES OF FINANCIAL ACTIVITY.
"THIS
CARIBBEAN THEY ARE
IS
"
EXPERIENCE CLEARLY REFUTES THE ALLEGATION THAT THERE
EACH TIME ZONE, HE ONLY ROOM FOR ONE MAJOR FINANCIAL CENTRE IN STRESSED.
REFERRING TO THE ON-GOING DEBATE ABOUT WHETHER IT WAS HONG KONG LONGER TERM, OR SINGAPORE WHICH WOULD LOSE OUT TO THE OTHER IN THE MR NENDICK SAID HE REMAINED TO BE CONVINCED THAT THIS SCINARIO.
24
WAS A LIKELY
"I BELIEVE THAT BOTH CENTRES WILL CONTINUE TO OFFER SERVICES OF OF VALUE TO INTERNATIONAL BANKS, HE SAID, ADDING THAT MORE THAN HALF THE WORLD'S TOP 100 BANKS ALREADY HAD A PRESENCE IN BOTH CENTRES.
PADS PROJECT OUTLINED IN PARIS
*
THE SECRETARY FOR PLANNING, ENVIRONMENT AND BARNES, YESTERDAY (MONDAY) OUTLINED THE PORT AND STRATEGY (PADS) PROJECT TO THE NATIONAL COMMITTEE TRADE ADVISERS IN PARIS.
HE TOLD HIS AUDIENCE THAT AFTER KAI TAK WAS THE BUSIEST AIRPORT IN ASIA.
THIS WAS PARTLY
LANDS, MR GRAHAM AIRPORT DEVELOPMENT OF FRENCH FOREIGN
TOKYO'S NARITA, HONG" KONG'S
BECAUSE OF THE WORLDWIDE
STIMULATED MORE
AIR TRAVEL,
INCREASE IN AIR
COMMERCIAL ESPECIALLY
TRAVEL, PARTLY BECAUSE HONG KONG'S INCREASED FUNCTION AS A BUT AND FINANCIAL CENTRE BECAUSE HONG KONG WAS THE GATEWAY INTO AN INCREASINGLY OPEN CHINA.
"BETWEEN 1987 AND 1988 AIR TRAFFIC ROSE 21 PER ΤΟ RISE IS IT
FORECAST PASSENGERS. 15.3 MILLION
TO PASSENGERS BY 2010. AIR CARGO TRAFFIC IS EXPECTED MILLION TONNES IN 1988 TO 2.6 MILLION TONNES IN 2010,
HONG
KONG'S
CENT TO REACH
47 MILLION
TO
+
JUMP FROM 0.7 HE SAID.
PORT HANDLED MR BARNES SAID THAT TONNES OF CARGO IN 1988, AND 85.4 MILLION TONNES IN 1989.
81.3 MILLION
THE TOTAL VOLUME OF TRAFFIC WOULD GO UP TO TONNES IN 2011.
ABOUT 450 MILLION
A
PORT
AND
MR BARNES SAID THE GOVERNMENT HAD IN MARCH 1988 COMMISSIONED JOINT DEVELOPMENT STUDY, THE MAJOR OBJECTIVES BEING TO DEVELOP A
ROADS ESPECIALLY INFRASTRUCTURE, AND AIRPORT WHICH COULD SHARE SEA-CROSSINGS.
/HE SHOWED
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