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Transcript of FS's media session
Following is the transcript of the remarks by the Financial Secretary, Mr Donald Tsang, after visiting the Hong Kong Industrial Technology Centre this (Thursday) afternoon:
FS: You know that in my last Budget I made an important part on my Budget speech to discuss the future industrial development in Hong Kong both in the service industry and in the manufacturing industry. I also made proposal which is to explore the possibility of having another industrial technology centre. For that reason, I come here today to have personal experience of various incubatees and various tenants discussing their own experience with the centre, and discussing their plans. I found it extremely useful and I hope it would help me eventually in formulating Government policy in this respect.
Reporter: Can I have your comments on KCRC proposal to inject $44 billion?
FS: We have just got this more detailed proposals from the KCRC. We would go through our vigorous studies of the proposal, particularly in terms of the programme they have suggested, and also the expenditure programme. My colleagues and I would have to be satisfied that those plans are realistic, and then we have to consider the phasing of the programme in terms of expenditure and in terms of works. And at that stage then we have to come to a view.
Reporter: There are some views that the Chinese might not agree to... Government sort of trying to put back the whole thing until ...?
Would the
FS: There is no question of putting it back. The fact is it is an enormous project. It is also a priority project. We would tackle it as quickly as possible. But it is also because it is a future project, and various studies means that we won't be able to start this project until 1998. There is no delaying involved. There is no fear of pre-mature commitment or delay commitment in this project. We would do it in the right time.
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