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Last year, considerable progress had been made on the development of the financial infrastructure of Hong Kong. The project on implementing Real Time Gross Settlement in Hong Kong made a good start in 1994 and is expected to be completed by end-1996. The HKMA is exploring with the central banks in China and the United States possible linkages with their payment systems.
"There is much work ahead for the Monetary Authority. This will continue to be carried out with enthusiasm and professionalism, and in a manner that commands the confidence of the people of Hong Kong and the international financial community," said Mr Yam.
The HKMA's 1994 annual report will be on sale from May 18 at the Government Publications Centre.
End/Wednesday, May 17, 1995
Study on the social causes of juvenile crime completed
The Fight Crime Committee has received the final report and executive summary of research it commissioned into the social causes of juvenile crime in Hong Kong, the Principal Assistant Secretary for Security, Mr Jack Chan, said today (Wednesday).
Mr Chan told a press conference that the Administration would examine in detail the research report and its recommendations, with a view to recommending specific courses of action to tackle the problem of juvenile crime.
He explained that, in May 1990, the Fight Crime Committee noted with concern the considerable increase in juvenile crime and had recommended that research into the causes and problems of juvenile crime should be conducted.
"The Fight Crime Committee commissioned, in September 1992, the Social Sciences Research Centre of the University of Hong Kong to conduct the research." Mr Chan said.
"The objectives of the research were threefold: first, to identify the social causes of crimes committed by young people aged between seven and 20 years; second. to study repeated offending among young offenders; and third, to make recommendations on government policies affecting youth," he added.
Mr Chan said copies of the research report would be sent to the Legislative Council and other interested organisations, committees and advisory bodies, such as the District Boards, the District Fight Crime Committees and the Commission on Youth.