11
WEDNESDAY, MARCH 30, 1994
HE
MEANS MADE IT CLEAR THAT THE USE OF THE FUND WAS NOT A ESCAPING LEGCO'S SCRUTINY.
OF
THE
MOREOVER, THE MAJOR RECIPIENTS OF INVESTMENTS AND LOANS FROM FUND
THE HOUSING AUTHORITY, THE MASS TRANSIT RAILWAY CORPORATION, THE PROVISIONAL AIRPORT AUTHORITY, AND THE RECENTLY
TRADING FUNDS - ALL HAVE THEIR ACCOUNTS ESTABLISHED
TABLED IN THE LEGCO, SO PROVIDING LEGISLATORS WITH THE OPPORTUNITY TO MONITOR AND QUESTION THE USE TO WHICH THESE BODIES HAVE PUT THE FUNDS, HE SAID.
ANOTHER GOOD YEAR FOR EXCHANGE FUND
* * * * *
THE FINANCIAL SECRETARY, THE HON SIR HAMISH MACLEOD, SAID TODAY (WEDNESDAY) THAT THE EXCHANGE FUND HAD ANOTHER VERY GOOD YEAR IN 1993.
UNAUDITED FIGURES OF THE EXCHANGE FUND STOOD AT HK$348
AT THE END OF 1993, AN INCREASE OF 21%
OVER THE
PREVIOUS
BILLION YEAR.
COUNCIL,
SIR BILLION,
CONCLUDING THE BUDGET DEBATE IN THE LEGISLATIVE HAMISH SAID ACCUMULATED EARNINGS OF THE FUND STOOD AT HK$128 20% HIGHER THAN A YEAR AGO.
זז
"THESE ARE IMPRESSIVE FIGURES, HE SAID.
THE FOREIGN CURRENCY HOLDINGS OF THE FUND MOREOVER, FROM US$35 BILLION TO OVER US$43 BILLION.
HE SAID THIS PLACED HONG KONG SIXTH IN THE WORLD FOREIGN CURRENCY RESERVES, COMPARED WITH 10TH LAST YEAR.
INCREASED
IN OVERALL
CAPITA.
++
'AND WE STAND SECOND IN THE WORLD IN TERMS
OF RESERVES PER
HE SAID SO FAR AS THE RESOURCES OF THE
WERE THESE
SUBJECT TO THE SCRUTINY OF
FUND EXCHANGE
THE DIRECTOR
WERE
OF
CONCERNED, AUDIT.
THE
SOON.
THE ANNUAL REPORTS OF THE MONETARY AUTHORITY WILL BE TABLED COUNCIL, AND THE FIRST SUCH REPORT IS EXPECTED TO BE READY
OF THE
EXCHANGE. FUND
IN
VERY
FIGURES
WERE ON THE
SO FAR AS THE DETAILS CONCERNED, HE SAID THE GOVERNMENT NEEDED TO STRIKE A BALANCE LEVEL OF DETAIL AND FREQUENCY OF DISCLOSURE.
MORE DETAILED
THE MONETARY AUTHORITY'S FIRST ANNUAL REPORT WILL
WILL FIGURES FULLER REPORT AND LEGISLATORS' INFORMATION, SIR HAMISH SAID.
BE
CONTAIN A AVAILABLE
FOR
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