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"Hong Kong has become one of the participants of the New Arrangements to Borrow, managed by the International Monetary Fund (IMF), to help prevent international financial crises. We fully support the efforts of the IMF in this field."
The Secretary for the Treasury said there was tremendous commitment of the senior leadership in Beijing to the "One Country, Two Systems" concept and to the upholding of the Basic Law.
"There is also tremendous determination by the people of Hong Kong to make the "One Country, Two Systems" work. The latest polls also show that the confidence level of the people in Hong Kong and of the international business community has been even higher now, when we are closer to the transition, " Mr Kwong said.
"Contrary to common belief, there are now more people returning to Hong Kong than emigrating. We have an exuberant property market, and after a cyclical downturn in the latter part of 1995, our economic growth rebounded from the low point in the first quarter of 1996 and has been picking up since," he said, adding that by the second half of last year, GDP growth has already risen above the trend rate of 5 percent projected for the medium term.
"These three S's and three C's are consistent with the thrust of the IMF policy advice on how best to deal with the volatility of capital flows. Also with them underpinning our monetary, financial and economic systems, the prosperity and stability of Hong Kong is assured," Mr Kwong concluded.
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Migratory Birds souvenir pack sold out
The souvenir packs of the "Migratory Birds" philatelic collection set have been sold out through advance order.
The collection set, which was jointly launched by the Agriculture and Fisheries Department and the World Wide Fund For Nature (WWF HK), has received an overwhelming response.
However, a limited quantity of postcards and normal covers is still available. Those interested are advised to place an advance order as soon as possible.