19
WEDNESDAY, JUNE 12, 1991
FURTHER
ז"
יו
BELIEVE THAT IT WOULD BE CORRECT FOR HONG KONG, IN THE DEVELOPMENT OF OUR MONETARY ARRANGEMENTS, TO FOLLOW THIS
ALBEIT CAUTIOUSLY, DIRECTION,
WHAT WE HAVE DONE IN RECENT YEARS IS CONSISTENT WITH THIS OBJECTIVE, HR SAID.
SECTOR,
A
ON REGULATION OF THE FINANCIAL SERVICES
OF
THE RESPONSIBILITY
PIERS THE MONETARY AFFAIRS BRANCH, SIR
SAID
GENERAL POLICY
WITH FAVOURABLE HAD BEEN TO PROVIDE A
ENVIRONMENT +
SOUND BUSINESS SUFFICIENT REGULATION TO ENSURE, AS FAR AS POSSIBLF,
BUT STANDARDS AND CONFIDENCE IN THE INSTITUTIONAL FRAMEWORK
WITHOUT
UNNECESSARY OR BUREAUCRATIC IMPEDIMENTS.
HAD
EXPANDING UPON HIS OTHER RESPONSIBILITIES WHICH SIR PJERS DESCRIBED IN HIS SPEECH TO THE CHARTERED INSTITUTE OF BANKERS AS BEING
UNDER BRANCH
THE LESS IN THE PUBLIC GAZE, HE TURNED TO THE POLICY SECRETARY FOR ECONOMIC SERVICES.
"THE ECONOMIC PORTFOLIO COMPRISES A WIDE RANGE OF SUBJECTS COVERING CIVIL
PORT AVIATION AND TOURISM, SHIPPING AND
MANAGEMENT,
POSTAL
PRODUCTION, PRIMARY SERVICES AND TELECOMMUNICATIONS, ENERGY, FINANCIAL MONITORING OF PUBLIC UTILITIES AND ECONOMIC ANALYSIS.
"OVER THE LAST FIVE YEARS THERE HAVE BEEN SIGNIFICANT DEVELOPMENTS IN ALL THESE AREAS.
AGREEMENT
JUNE
"FOR CIVIL. AVIATION, THE FIRST SEPARATE AIR SERVICES IN HONG KONG'S HISTORY, WITH THE NETHERLANDS, CAME INTO FORCE IN
BEEN CONCLUDED 1987. SINCE THEN, A NUMBER OF OTHER AGREEMENTS HAVE AND NEGOTIATIONS WITH OTHER PARTNERS CONTINUE.
PER
"PASSENGER TRAFFIC THROUGH KAI TAK HAS INCREASED BY NEARLY CENT
AND THE PORT HAS BEEN OVER THE PERIOD, COMPLETION OF CONTAINER TERMINAL, 7 SIR PIERS SAID.
I
90
EXPANDED
WITH
THE
OTHER
ACHIEVEMENTS ON
THE MARINE FRONT
INTRODUCTION OF A COMPUTERIZED RADAR VESSEL TRAFFIC MANAGEMENT SYSTEM, THE ESTABLISHMENT OF A NEW HONG KONG SHIPPING REGISTER
DEVELOPMENT BOARD.
INCLUDED THE
AND A PORT
CARGO
INCREASED BY ABOUT 60 HANDLED BY THE PORT HAS OVER THE LAST FIVE YEARS.
PER
CENT
"
EN
GRADUALLY BEEN HAVE FIELD OF TELECOMMUNICATIONS WE THE
AND OF DEVELOPING OUR POLICIES WITH THE AID OF A NUMBER OF STUDIES,
GENERATION COURSE HONG KONG CONTINUES TO BE WELL SERVED BY ITS POWER
WHICH, COMPANIES,
HOLD THEIR TARIFF INCIDENTALLY, HAVE MANAGED TO
OF INCREASES BELOW THE LEVEL OF GENERAL PRICE INCREASES FOR A NUMBER YEARS, SIR PIERS SAID.
"
GOING ON TO TRADE AND INDUSTRY WHICH ARE THE LIFE-BLOOD OF ECONOMY, SIR PIERS NOTED THAT HONG KONG'S FREE TRADE POLICY WAS TO THE TERRITORY'S SUCCESS.
THE VITAL
FULL
ITS GIVEN
RELATIONS,
"[T IS FOR THAT REASON THAT THE GOVERNMENT, AUTONOMY IN THE CONDUCT OF OUR EXTERNAL COMMERCIAL PARTICIPATES FULLY IN THE INTERNATIONAL ARENA IN THE INTERESTS OF FREE TRADE AND AGAINST THE FORCES OF PROTECTIONISM.
/"WE ARE
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