THURSDAY, NOVEMBER 25, 1993
3
BE
A SOCIAL WELFARE DEPARTMENT SPOKESMAN SAID THAT THE TASK GROUP WOULD AIM TO COMPLETE ITS TASK IN THREE MONTHS. ITS FINDINGS WOULD THEN BE SUBMITTED TO THE SWD MANAGEMENT TO EXAMINE IF THERE WOULD A CASE TO SUBSTANTIATE THE SWA BRANCH'S REQUEST FOR SALARY REVIEW.
AS A GESTURE OF GOODWILL ON BOTH SIDES TO COME BACK TO CONFERENCE TABLE, THE ADMINISTRATION IS WILLING TO WITHDRAW IMPOSITION OF SANCTION, UNDER CSR 610, I.E. DEDUCTION OF SALARY FOR THE THREE DAYS' SIT-IN STAGED BY THE SWA BRANCH REPRESENTATIVES ON 25- 27 OCTOBER. ON THE STAFF SIDE, THE SWA BRANCH IS WILLING TO CALL OFF ALL CONFRONTATIONAL ACTION.
0
THE
THE
RESIDENTIAL MORTGAGE SURVEY RESULTS FOR OCTOBER
THE TOTAL AMOUNT OF OUTSTANDING RESIDENTIAL MORTGAGE FELL SLIGHTLY IN OCTOBER, ACCORDING TO RESULTS OF THE LATEST SURVEY CONDUCTED BY THE HONG KONG MONETARY AUTHORITY (HKMA).
LENDING MONTHLY
OUTSTANDING LENDING
THE FIGURES SHOW THAT THE TOTAL AMOUNT OF BY THE 28 INSTITUTIONS IN THE SURVEY FELL BY 0.01 PER CENT IN OCTOBER, AGAINST A RISE OF 0.8 PER CENT IN SEPTEMBER.
**
"THIS IS THE FIRST MONTHLY FALL SINCE FEBRUARY THIS YEAR, REFLECTING A CONSOLIDATION OF THE PROPERTY MARKET IN THE LIGHT OF THE TIGHTENED LENDING POLICIES RECENTLY ADOPTED BY THE BANKING SECTOR, DEPUTY CHIEF EXECUTIVE (BANKING) OF THE HKMA, MR DAVID CARSE, SAID TODAY (THURSDAY).
AVERAGE LENDING OVER THE LAST THREE MONTHS HAS FALLEN SHARPLY TO 13.8 PER CENT (ANNUALISED) FROM 26.1 PER CENT IN THE THREE-MONTH PERIOD TO SEPTEMBER.
NEW LOANS APPROVED BUT NOT YET DRAWN ALSO FELL SLIGHTLY BOTH IN NUMBERS (TO 2,105 FROM 2,186) AND IN VALUE (TO $2.6 BILLION FROM $2.9 BILLION).
"JUDGING FROM THESE FIGURES, I EXPECT THE AMOUNT OF OUTSTANDING LENDING TO BE LITTLE CHANGED IN NOVEMBER, MR CARSE SAID.
++
THERE HAD
WHILE WELCOMING THE SLOW-DOWN, MR CARSE NOTED THAT BEEN A CLEAR CYCLICAL PATTERN IN LENDING OVER THE LAST TWO YEARS AND THAT THE PRESENT POSITION COULD PROVE TO BE TEMPORARY.
"INSTITUTIONS
H
APPROACH, HE SAID.
SHOULD THEREFORE CONTINUR TO ADOPT A CAUTIOUS
REGARDING LENDING FOR THE PURCHASE OF PROPERTIES IN CHINA, THE LATEST FIGURES SHOW THAT SUCH LENDING ROSE BY 2.3 PER CENT IN OCTOBER, FROM $3.1 BILLION TO $3.2 BILLION.
"WE HAVE ESTABLISHED THAT THE INCREASE 19 ATTRIBUTABLE TO THE DRAWDOWN OF LOANS FOR THE PURCHASE OF RESIDENTIAL PROPERTIES WHICH WERE APPROVED BY THE LENDING INSTITUTIONS SOME MONTHS AGO," MR CARSE SAID.
NEW LOAN APPROVALS FELL SLIGHTLY IN OCTOBER, FROM $184 MILLION TO $176 MILLION.
14