THURSDAY, MARCH 11, 1993
NON-AIRPORT CORE PROGRAMME PROJECTS DUE ΤΟ START THIS YEAR INCLUDE ROUTE-3 TSING YI-KWAI CHUNG SECTION, ENGINEERING WORKS AND BACK-UP AREAS FOR CONTAINER TERMINAL, 9 DUPLICATE TSING YI SOUTH BRIDGE, RECLAMATION AT BELCHER BAY AND MAIN DRAINAGE CHANNELS TO REDUCE FLOODING RISK IN YUEN LONG AND KAM TIN.
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REFERRING ΤΟ THE AIRPORT CORE PROGRAMME, MR BLAKE SAID SATISFACTORY PROGRESS HAS BEEN ACHIEVED ON THOSE PROJECTS WHICH COMMENCED.
"IN THE WEST KOWLOON RECLAMATION, ABOUT ONE-QUARTER OF THE HECTARES OF NEW LAND HAS BEEN FORMED.
"SITE
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FORMATION AND BRIDGE FOUNDATION WORKS FOR THE TSING MA BRIDGE IS ALSO MAKING GOOD PROGRESS.
"OTHER MAJOR WORKS PROGRESSING SMOOTHLY INCLUDE SITE FORMATION FOR THE ROUTE-3/LANTAU FIXED CROSSING INTERCHANGE, DREDGING AND RECLAMATION WORKS FOR TUNG CHUNG NEW TOWN, AND THE NORTH LANTAU EXPRESSWAY."
"CONTRACTS TO BE AWARDED IN 1993/94 WILL INCLUDE THE KWAI CHUNG VIADUCT AND RAMBLER CHANNEL BRIDGE OF ROUTE-3, NORTHERN AND SOUTHERN SECTIONS OF THE WEST KOWLOON EXPRESSWAY AND THE TUNG CHUNG SECTION OF THE NORTH LANTAU EXPRESSWAY, MR BLAKE SAID.
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EXCHANGE FUND INVESTMENT APPROACH UNDER REVIEW
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THE CHIEF EXECUTIVE (DESIGNATE) OF THE HONG KONG AUTHORITY (HKMA), MR JOSEPH YAM, SAID TODAY (THURSDAY) INVESTMENT APPROACH OF THE EXCHANGE FUND WAS BEING REVIEWED.
MONETARY THAT THE
"WE ARE ABOUT TO MANAGE THE EXCHANGE FUND MORE PROFESSIONALLY, WHICH IS GOOD FOR US, GOOD FOR THE MARKET HERE AND GOOD FOR HONG
KONG," HE SAID.
SPEAKING AT THE ANNUAL MEETING OF THE INTERNATIONAL SWAP DEALERS ASSOCIATION, HE SAID THE "ETERNAL TRIANGLE" OF SECURITY, LIQUIDITY AND PROFIT, AS WELL AS THE COST OF THESE ELEMENTS, HAD TO BE CONSIDERED IN MANAGING THE OFFICIAL RESERVES.
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'PROPER RISK-REWARD ANALYSES WILL BE DONE AND REVIEWS OF THE CREDIT AND LIQUIDITY POLICIES ARE UNDER WAY," HE SAID.
MR YAM OUTLINED THE CONCLUSIONS REACHED SO FAR FROM THE REVIEW OF THE INVESTMENT APPROACH OF THE EXCHANGE FUND.
THEY INCLUDED:
MAINTAINING THE CURRENT POLICY OF MANAGING PART OF THE RESERVES THROUGH EXTERNAL FUND MANAGERS WITH THE USE OF MORE PRECISE GUIDELINES;
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