XN000022-1977-10-19 — Page 2

WEDNESDAY, OCTOBER 19, 1977

HIGH LEVEL COMMITTEE ON DIVERSIFICATION OF ECONOMY

APPOINTED ****

THE GOVERNOR, SIR MURRAY MACLEHOSE, HAS APPOINTED A HIGH LEVEL COMMITTEE TO ADVISE +WHETHER THE PROCESS OF DIVERSIFICATION OF THE ECONOMY, WITH PARTICULAR REFERENCE TO THE MANUFACTURING SECTOR, CAN BE FACILITATED BY THE MODIFICATION OF EXISTING POLICIES OR THE INTRODUCTION OF NEW POLICIES+.

THE COMMITTEE, WHICH WILL START WORK EARLY NEXT MONTH, INCLUDES PROMINENT REPRESENTATIVES OF INDUSTRY, BANKING AND BUSINESS CIRCLES.

THEY ARE DR. S.Y. CHUNG, MR. T.K. ANN, MR. Q.W. LEE, MR. JAMES WU, MR. F.W. LI, MR. T.S. LO, MR. S.L. CHEN, MR. DAVID NEWBIGGING, MR. MICHAEL SANDBERG, MR. LESLIE GORDON, MR. WONG TOK-SAU, MŘ, DEREK DAVIES AND DR. KEITH LEGG.

IN ADDITION, THERE WILL BE TWO OTHER OFFICIAL MEMBERS THE DIRECTOR OF TRADE, INDUSTRY AND CUSTOMS, MR. DAVID JORDAN, AND THE SECRETARY FOR ECONOMIC SERVICES, MR. DAVID JEAFFRESON.

THE CHAIRMAN OF THE COMMITTEE WILL BE THE FINANCIAL SECRETARY, MR. PHILIP HADDON-CAVE.

A GOVERNMENT SPOKESMAN EXPLAINED THAT AMONG THE COMMITTEE'S FIRST TASKS WILL BE EXAMINATION OF THE PRINCIPAL FACTORS WHICH HAVE CONTRIBUTED TO HONG KONG'S ECONOMIC GROWTH IN THE PAST FEW YEARS.

THE COMMITTEE WILL ALSO BE CONSIDERING THE IMPLICATIONS OF THE REGULATION OF INTERNATIONAL TRADE IN TEXTILES FOR THE GROWTH RATE OF THE ECONOMY AND WILL BE MAKING A STUDY OF THE FACTORS WHICH HAVE BEEN INFLUENTIAL IN ATTRACTING NEW INDUSTRIES TO HONG KONG IN RECENT YEARS.

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