13
WEDNESDAY, MARCH 24, 1993
BILL TO REGULATE FRINGE FOREIGN EXCHANGE FIRMS
SAID
THE ACTING SECRETARY FOR MONETARY AFFAIRS, MR TAM WING-PONG, THE GOVERNMENT HOPED TO BE ABLE TO INTRODUCE THE BILL ON THE REGULATION OF FRINGE FOREIGN EXCHANGE COMPANIES INTO THE LEGISLATIVE COUNCIL BEFORE THE SUMMER RECESS.
EXCHANGE
UNDER THE CURRENT PROPOSALS, ALL LEVERAGED FOREIGN OPERATORS, OTHER THAN CERTAIN EXEMPTED BODIES, SUCH AS AUTHORISED INSTITUTIONS AND AUTHORISED INSURERS, ARE REQUIRED TO BE REGISTERED AND WILL BE SUBJECT TO REGULATION, HE SAID.
IN A WRITTEN REPLY TO A QUESTION BY THE HON JAMES TO KUN-SUN IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY), MR TAM SAID: "THE PROPOSED REGULATORY SYSTEM WILL COVER ALL LEVERAGED FOREIGN EXCHANGE TRANSACTIONS CONDUCTED IN HONG KONG, IRRESPECTIVE OF THE LOCATION THE INVESTOR."
OF
WAY-FORWARD STUDY UNDERWAY OF CONTAINERISED CARGO OPERATION
THE PLANNING DEPARTMENT IS CARRYING OUT AN IN-HOUSE BASED ON DIFFERENT THROUGHPUT SCENARIOS, ON THE WAY FORWARD TO FOR THE NEED OF CONTAINERISED CARGO OPERATIONS.
STUDY,
CATER
THE
RESULTS OF THE STUDY SHOULD BE AVAILABLE BY OCTOBER
THIS
YEAR.
THIS WAS STATED BY THE SECRETARY FOR ECONOMIC SERVICES, MRS ANSON CHAN, IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
IN THE WRITTEN REPLY TO A QUESTION BY DR THE HON HUANG CHEN-YA, MRS CHAN SAID AS THIS SECTOR WAS MAKING A SIGNIFICANT AND GROWING CONTRIBUTION TO THE OVERALL ECONOMY, THE GOVERNMENT CONSIDERED THAT THERE SHOULD BE A MORE SYSTEMATIC APPROACH OF LAND PROVISION LONGER TENURE FOR CONTAINERISED CARGO OPERATIONS.
UNDER
THE LATEST DATA SUGGESTS THAT MID-STREAM CARGO WILL OVERALL GROWTH OF SOME 12 PER CENT OVER THE NEXT FIVE YEARS.
SEE
AN
MID-STREAM CARGO HAS TWO SEPARATE COMPONENTS, NAMELY
CONTAINERISED AND NON-CONTAINERISED CARGO.
AT PRESENT, NON-CONTAINERISED CARGO ACCOUNTS FOR ABOUT HALF MID-STREAM THROUGHPUT.
"THIS CARGO IS LARGELY HANDLED ACROSS PUBLIC AREAS FOR WHICH THERE IS GENERALLY ADEQUATE PROVISION. IT TO GROW BY ONE PER CENT WITHIN THE SAME PERIOD," MRS
OF
CARGO WORKING WE ANTICIPATE CHAN SAID.
OF
ON THE OTHER HAND, CONTAINERISED CARGO HAD SEEN AN EXTREMELY VOLATILE GROWTH PATTERN OVER THE PAST 10 YEARS, RANGING FROM A LOW 10 PER CENT TO A HIGH OF 60 PER CENT.
/"WE FORECAST