THURSDAY, JULY 14, 1994
3
ON A YEAR-ON-YEAR COMPARISON, THE NUMBER OF SALE AND PURCHASE AGREEMENTS FOR BUILDING UNITS SHOWED A DECELERATION FROM AN INCREASE OF 50.1 PER CENT IN THE FIRST QUARTER OF THIS YEAR AND AN INCREASE OF 18.1 PER CENT IN APRIL, TO A DECREASE OF 5.9 PER CENT IN MAY DECREASE OF 44.3 PER CENT IN JUNE.
AND A
AS THERE IS USUALLY A TIME LAG BETWEEN THE EXECUTION AND THE LODGEMENT OF DEEDS FOR REGISTRATION, STATISTICS RECORDED IN JUNE GENERALLY RELATE TO LAND TRANSACTIONS EXECUTED UP TO FOUR WEEKS BEFORE THEIR SUBMISSION FOR REGISTRATION.
A COMPARISON TABLE SHOWING THE RELEVANT STATISTICS FOR MAY 1994 AND FOR JUNE 1993 WAS RELEASED.
FOR SALE AND PURCHASE AGREEMENT, A CHART SHOWING THE NUMBER RECEIVED FOR THE PAST 12 MONTHS AND ANOTHER SHOWING THE YEAR-ON-YEAR RATE OF CHANGE WERE ALSO RELEASES.
BANK GRANTED LAND FOR VAULT
THE GOVERNOR-IN-COUNCIL HAS AGREED THAT A SITE AT A KUNG NGAM BE GRANTED BY PRIVATE TREATY TO THE BANK OF CHINA FOR THE DEVELOPMENT OF A VAULT FOR STORAGE OF BULLION, NOTES AND COINS.
THE BANK OF CHINA COMMENCED ISSUING BANKNOTES ON MAY 1 THIS YEAR AND INTENDS TO GRADUALLY INCREASE ITS SHARE OF BANKNOTES ISSUED IN HONG KONG.
A NEW VAULT, WHICH HAS TO BE LOCATED IN A PURPOSE-BUILT TREASURY BUILDING FOR SECURITY AND OTHER PRACTICAL CONSIDERATION, SHOULD BE READY BY 1996 TO COPE WITH THE ANTICIPATED REQUIREMENT.
TARIFF REVISIONS FOR LOCAL TELEPHONE SERVICES
THE TELECOMMUNICATIONS AUTHORITY, MR ALEXANDER ARENA, ANNOUNCED TODAY (THURSDAY) THAT HE WAS SATISFIED THAT THE REVISED TARIFFS FOR THE LOCAL TELEPHONE SERVICES PROVIDED BY HONG KONG TELEPHONE ACCORD WITH THE PRICE-CAP ARRANGEMENTS STIPULATED IN THE TELEPHONE
REGULATION.
THE REVISED TARIFFS WILL BE PUBLISHED IN THE GOVERNMENT GAZETTE TOMORROW (JULY 15). THE NEW TARIFFS WILL COME INTO EFFECT ON AUGUST 1, 1994.
T
THE PRICE-CAP ARRANGEMENTS INTRODUCED IN 1993 LIMIT THE ANNUAL INCREASES IN THE BASKET OF LOCAL TELEPHONE CHARGES, AS A WHOLE, ΤΟ FOUR PER CENT BELOW INFLATION. THE INCREASE IN RESIDENTIAL LINE RENTAL HAS BEEN HELD TO THREE PER CENT BELOW INFLATION IN WITH THE PRICE CONTROL RULES.
ACCORDANCE
/MR ARENA