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Wednesday, February 14, 1973
is likely to be neutral there should be no increase in our
cost of living as a result of these moves. In particular,
we do not think there will be any increase in the prices of
our substantial imports of food and consumer goods from China.
"This was one of the major factors influencing the
decision today" he said.
Concluding, the Financial Secretary said: "We have
a fully employed economy and our national income is growing
at a rate which demonstrates the underlying strength of the
Hong Kong dollar. Continuing economic progress can best be
achieved in conditions of stability both internally and in
the international trading environment in which we operate.
I have no doubt, therefore, the decision we have taken
today is the correct one.'
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