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FS welcomes results of economic freedom study
The Financial Secretary, Mr Donald Tsang, today (Monday) welcomed the 1996 Index of Economic Freedom released by the Heritage Foundation, which ranked Hong Kong the freest economy in the world.
The study, which covered a total of 142 economies in the world, was released by the US-based research institute today.
Mr Tsang said: "We firmly believe in private enterprise and small government, so that business will have the freedom and the opportunity to generate the wealth our economy needs.
"That is why we have held fast to the rule that over time public expenditure grows no faster than the economy as a whole.
"Hong Kong Government will keep up its efforts in maintaining a business. friendly environment, a clean and efficient government, a simple and low taxation system, and the rule of law."
End/Monday, November 27, 1995
Two lots of land sold for $202 million
Two lots of government land were sold for a total of$202 million at a public auction held by the Lands Department this (Monday) afternoon.
The first lot located in 26 Mount Kellett Road, the Peak, was bought by Global Success Enterprises Limited at $107 million, with bidding opening at $80 million.
With an area of 1,936.1 square metres, the lot is designated for private residential use.
The developer has to complete a gross floor area of not less than 746 square metres on or before December 31, 1998.
The second lot located in Wo Tik Street, Tsuen Wan, was sold to Wide Fame Investment Limited at $95 million, with bidding opening at $72 million.