XN000022-1974-05-27 — Page 5

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GOVERNOR TOURS TOY FACTORY

ONE OF THE FIRMS WHICH HAVE HELPED HONG KONG TO BECOME THE WORLD'S LARGEST EXPORTER OF TOYS RECEIVED A VISIT TODAY FROM THE GOVERNOR, SIR MURRAY MACLEHOSE.

CONTINUING A SERIES OF FACTORY VISITS, HE MADE A SHOP- FLOOR TOUR OF KADER INDUSTRIAL CO LTD AT NORTH POINT TO SEE MANUFACTURING OPERATIONS IN PROGRESS IN THE PLASTICS INDUSTRY.

LAST YEAR HONG KONG'S EXPORT EARNINGS FROM PLASTIC PRODUCTS

AND TOYS ACCOUNTED WERE VALUED AT MORE THAN $2,000 MILLION FOR 64 PER CENT OF THIS TOTAL.

THE UNITED STATES HAS CONSISTENTLY BEEN THE LARGEST OVERSEAS MARKET FOR THE WIDE RANGE OF PRODUCTS MADE BY THE LOCAL PLASTIC INDUSTRY, TAKING ABOUT 60 PER CENT OF ITS EXPORTS.

OTHER MAJOR BUYERS ARE BRITAIN, THE FEDERAL REPUBLIC OF GERMANY, CANADA AND AUSTRALIA.

PLASTICS FIRMS ARE NOW BUSY MAKING TOYS WHICH WILL GO INTO CHILDREN'S CHRISTMAS STOCKINGS IN MANY PARTS OF THE WORLD.

SIR MURRAY WAS SHOWN ROUND AT KADER BY THE FIRM'S MANAGING DIRECTOR, MR. H.C. TING. HE WAS ACCOMPANIED BY MR. ROY PORTER, DEPUTY DIRECTOR OF COMMERCE AND INDUSTRY, AND HR. K.H. YEUNG. PRINCIPAL TRADE OFFICER, INDUSTRIAL DEVELOPMENT BRANCH.

THE VISITORS WERE IMPRESSED WITH THE QUALITY AND HIGH STANDARD OF WORKMANSHIP OF THE TOYS AND OTHER PLASTIC PRODUCTS PRODUCED BY THE FIRM.

CONSIDERABLE EFFORTS HAVE BEEN MADE BY THE COMMERCE AND INDUSTRY DEPARTMENT TO ENSURE THAT LOCAL PLASTICS FIRMS CONTINUE TO HAVE ADEQUATE SUPPLIES OF RAW MATERIALS TO MEET THEIR PRODUCTION COMMITMENTS.

AN UNCERTAIN SUPPLY SITUATION DEVELOPED AS A RESULT OF LAST YEAR'S CUTBACK IN OIL PRODUCTION, AND TO HELP SMALLER FIRMS THE DEPARTMENT ORGANISED A SHARE-OUT SCHEME WITH THE SUPPORT OF IMPORTERS AND MANUFACTURERS.

EXPORT CONTROLS WERE IMPOSED ON KEY MATERIALS USED IN THE LOCAL PLASTICS INDUSTRY AS A REGULATORY MEASURE. THESE HAVE NOW BEEN RELAXED SLIGHTLY TO TAKE ACCOUNT OF IMPROVED SUPPLY CONDITIONS, BUT THEY WILL NOT BE REMOVED ALTOGETHER UNTIL THE TRADE AND IN- DUSTRY ADVISORY BOARDS FEELS THEY ARE NO LONGER REQUIRED.

Q

MTR NEGOTIATIONS PROCEEDING SMOOTHLY

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NOTE TO EDITORS:

COMMENTING ON REPORTS IN YESTERDAY'S AND TODAY'S NEWSPAPERS THAT THERE WILL BE PRICE INCREASES OVER THE MASS TRANSIT RAILWAY, A GOVERNMENT SPOKESMAN SAID THAT NEGOTIATIONS ARE PROCEEDING SMOOTHLY WITH THE JAPANESE CONSORTIUM WITHIN THE PRICE CEILING STATED IN THE LETTER OF INTENT. THE MASS TRANSIT RAILWAY PROVISIONAL AUTHORITY HAS RECEIVED NO REQUEST FROM THE CONSORTIUM, EITHER DURING THE TALKS IN TOKYO IN APRIL OR SUBSEQUENTLY, FOR ANY PRICE INCREASE AND IT HAS NO REASON TO BELIEVE THAT THE CONSORTIUM HAS CHANGED ITS MIND.

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