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MONDAY, MARCH 9, 1992
IN
"THERE WERE NO PLANS FOR THE MAJOR BANKS WHO ARE INVOLVED MORTGAGE LENDING TO RELAX THEIR LENDING CRITERIA. SO THERE SHOULD BE NO EXCUSE FOR RAISING PRICES BECAUSE SOMEHOW THERE IS GOING TO BE MORE MONEY AVAILABLE, HE SAID.
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INDEED ONE BANK HAD ANNOUNCED
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THAT IT WAS CONSIDERING
TIGHTENING ITS LENDING CRITERIA, MR MACLEOD ADDED.
THE FINANCIAL SECRETARY SAID HE ALSO HAD A CHECK ON THE SITUATION OF VACANT FLATS AT PRESENT AND FLATS COMING ON THE MARKET IN THE NEXT FEW MONTHS.
"ABOUT HALF THE FLATS WHICH WERE RELEASED ONTO THE MARKET LAST YEAR ARE STILL VACANT. AND WE HAVE 15,000 NEW FLATS COMING UP ONTO THE MARKET OVER THE NEXT FEW MONTHS.
"SO THERE IS A GOOD SUPPLY, THE BANKS WILL CONTINUE TO BE CAUTIOUS ON LENDING AND THERE IS NO OBJECTIVE REASON FOR AN EXPECTATION OF RISING PROPERTY PRICES,
TT HE STRESSED.
ASKED WHETHER HE WAS WORRIED THAT MEMBERS MIGHT VETO THE BUDGET IF IT HAD TO BE SEEN AS A PACKAGE, MR MACLEOD SAID: "I BELIEVE THAT LEGCO MEMBERS ARE RESPONSIBLE, THAT THEY DO NOT WISH TO CREATE A SITUATION WHERE A BUDGET, OR SOME PARTS OF A BUDGET, CANNOT BE IMPLEMENTED."
HE ADDED THAT IT WOULD BE A VERY SERIOUS THING IF SOME PARTS OF THE BUDGET WERE NOT APPROVED.
NEW SCHEME OF CONTROL AGREEMENT FOR CLP
(MONDAY)
THE SECRETARY FOR ECONOMIC SERVICES, MRS ANSON CHAN, TODAY REPRESENTED THE GOVERNMENT TO SIGN A NEW SCHEME OF CONTROL AGREEMENT WITH CHINA LIGHT AND POWER COMPANY LIMITED, EXXON ENERGY LIMITED AND THEIR SUBSIDIARY GENERATING COMPANIES.
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THE NEW SCHEME WILL COMMENCE IN OCTOBER 1993 AND EXTEND THE END OF SEPTEMBER 2008, SOME 11 YEARS BEYOND THE RESUMPTION OF SOVEREIGNTY OVER HONG KONG BY CHINA.
SPEAKING AT THE SIGNING CEREMONY, MRS ANSON CHAN SAID THE AGREEMENT WAS A POWERFUL SYMBOL OF CONTINUITY DURING THIS PERIOD OF TRANSITION, AND OF THE CONTINUING COMMITMENT OF CHINA LIGHT AND ITS PARTNER EXXON ENERGY TO A PROSPEROUS AND DYNAMIC FUTURE FOR HONG KONG.
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