9.
And what does that strength mean?
I quoted one economist pundit the other day who said that if Hong Kong went on like this, it would - within half a working life time - be the richest city in the world. That's the message, someone said to me recently, to tell people. Well, yes but Hong Kong will only be that rich if it stays free, open and decent. That's the key. No one should be allowed to forget that.
End/Sunday, November 5, 1995
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Credit union movement contributes to community
The credit union movement has made useful contributions to our community since its inception in Hong Kong in 1964, the Director of Agriculture and Fisheries, Dr Lawrence Lee, said today (Sunday).
Dr Lee, who is Registrar of Credit Unions, was speaking at the celebrations marking this year's International Credit Union Day.
The credit union movement has grown substantially ever since it was founded more than 30 years ago by pioneers and leaders such as Father John Collins and Mr Andrew So, he said.
"At present, there are 69 credit unions and over 50,000 members, with savings totalling about $666 million. The membership and savings have increased considerably by 133 per cent and 1,700 per cent respectively in 10 years.
"With the enthusiastic support of the members and the dedicated efforts of the volunteer workers, I have confidence that the movement in Hong Kong will continue to sustain its achievement under the co-ordination and leadership of the Credit Union League," he said.
Dr Lee pointed out that the Credit Unions Ordinance had been amended in June this year.
The amendments, he said, had simplified the winding-up procedures for credit unions, thereby facilitating the liquidation of inactive credit unions.
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