+
2
The Secretary for the Treasury said Hong Kong was prepared to share its experience in the establishment of domestic clearing and settlement systems with other member economies and to act as contact point if necessary to make the relevant referrals or co-ordination for APEC member economies wishing to seek technical assistance from the Asia Development Bank or from other economies.
Stressing that the immediate goal of the collaborative initiative should be on strengthening domestic clearing and settlement systems, Mr Kwong said in the medium to longer term, there might be a need to assess the feasibility of development of a regional clearing and settlement facility.
"The Executives' Meeting of East Asia and Pacific Central Banks and Monetary Authorities (EMEAP) has already started to study this issue. When the study is completed and subject to the agreement of EMEAP, we would be pleased to inform APEC of the findings," he said.
Mr Kwong said it was very encouraging that some member economies had already reacted positively to this collaborative initiative and the proposed approach and some had also indicated their willingness to share their experience in domestic clearing and settlement systems with other APEC member economies.
"I am confident that such collaboration would bear fruitful results for the APEC region as a whole," he added.
End
Government purchases total HK$4,781 million in 1996
Contracts valued at HK$4,781 million were arranged by the Government Supplies Department (GSD) in 1996, a five per cent increase over the previous year.
These contracts were for the supply of goods and services to over 80 government departments and to several non-government organisations, including the Hospital Authority.
The main items purchased included computer hardware and software, pharmaceutical preparations, medical and hospital equipment, fuel oils and scientific and laboratory equipment.