XN000022-1977-11-05 — Page 3

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SATURDAY, NOVEMBER 5, 1977

SAID.

+THE RESULT IS NOW YOU HAVE DROPPING CRIME FIGURES,+ HE

ON HONG KONG'S ECONOMIC GROWTH, SIR MURRAY SAID IT WAS EXPECTED THAT HONG KONG WOULD FINISH THE YEAR WITH EXPORTS UP IN REAL TERMS BY ABOUT FOUR PER CENT ON LAST YEAR.

HE SAID THE OVERALL FORECAST WAS FOR A GROWTH IN GENERAL TRADE AND THERE WERE MANY FACTORS THAT WERE ENCOURAGING. THE DEMAND BOTH IN UK AND AMERICA WAS CERTAINLY PICKING UP AND ALL THESE THINGS COULD HELP HONG KONG.

TURNING TO THE CURRENT BILATERAL TEXTILE NEGOTIATIONS WITH THE EEC, SIR MURRAY REPEATED HIS REMARK IN HIS OPENING ADDRESS TO THE LEGISLATIVE COUNCIL LAST MONTH THAT THE OUTCOME WOULD BE A BLOW +BUT NOT A MORTAL ONE.+

THE NEGOTIATIONS RELATED TO AT THE MOST 10 PER CENT OF OUR TOTAL TRADE, HE POINTED OUT.

SIR MURRAY SAID IF THE OUTCOME OF THE TALKS LED TO A CUTBACK IN HONG KONG'S QUOTAS, IT WOULD NOT CAUSE A MAJOR PROBLEM OF UNEMPLOYMENT.

+AT THE MOMENT WE HAVE GOT VERY FULL EMPLOYMENT, THOUGH THE TEXTILE INDUSTRY IS NOT GOING THROUGH A VERY HAPPY STAGE, THERE ARE OTHER INDUSTRIES THAT HAVE TO BE PICKING UP LABOUR.

+THERE IS BOOM IN CONSTRUCTION SO THERE IS NO MAJOR PROBLEM OF UNEMPLOYMENT. +

ON THE DEVELOPMENT OF SOCIAL WELFARE, HE SAID THE GOVERNMENT'S ACTION IN THIS AREA WOULD KEEP PACE WITH ECONOMIC GROWTH. AS EXAMPLES, HE CITED THE SERIES OF GREEN AND WHITE PAPERS ON DEVELOPMENT PROGRAMMES FOR THE HANDICAPPED. THE ELDERLY AND YOUTH, AND THE NINE-YEAR FREE COMPULSORY EDUCATION.

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