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Examples included the introduction of pound sterling futures contracts and the preparations for the launching of regional derivative warrants and convertible bonds.
"I welcome these developments which enhance our position as an international financial centre," he said.
"I would be willing to consider favourably, on a case-by-case basis, what incentives new products might enjoy including possibly some form of stamp duty concession.
"Similarly, with stamp duty on stock transactions. I remain prepared to review the stamp duty rate once the industry has finalised its plans to reduce brokerage charges.
End
Strengthening of infrastructure continues
While changes to the institutional arrangements were taking place, Hong Kong had continued to strengthen its infrastructure, the Financial Secretary, Mr Donald Tsang, said today (Wednesday) in the Legislative Council.
Delivering his 1997/98 Budget speech, Mr Tsang said the Government was pressing ahead with the modernisation of the transport facilities. For example:
Hong Kong has created the world's busiest container port. In 1996, it handled 13.2 million TEUs. The first berth of CT9 is expected to come on stream in 1999;
the new airport is scheduled to open in April 1998. It will be able to handle 35 million passengers and 3 million tonnes of cargo a year. The completion of a second runway at the end of 1998 will boost overall runway capacity from 38 to 50 aircraft movements per hour within the first year of commissioning;
the Airport Core Programme's transport corridor between Central District and Chek Lap Kok will be progressively completed over the next few months and open to the public in stages;