XN000022-1978-11-15 — Page 18

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WEDNESDAY, NOVEMBER 15, 1978

GOVERNMENT INTERESTED IN PROMOTING CO-OPERATIVE PROJECTS *****

THE GOVERNMENT CONTINUES TO BE INTERESTED IN THE PROMOTION OF SELF-HELP CO-OPERATIVE PROJECTS WHETHER THEY ARE TARGETTED TOWARDS ECONOMIC OR SOCIAL AIMS OR BOTH.

THIS WAS STATED TODAY BY THE DIRECTOR OF AGRICULTURE AND FISHERIES, THE HON. TED NICHOLS, IN REPLY TO POINTS RAISED BY THE UNOFFICIAL MEMBER, THE HON, ANDREW SO, IN THE ANNUAL POLICY DEBATE IN THE LEGISLATIVE COUNCIL.

+THE GOVERNMENT RECOGNISES AND ACKNOWLEDGES THE BENEFITS ACCUR ING FROM MEMBERSHIP OF EITHER THE CO-OPERATIVE OR THE CREDIT UNION MOVEMENT, MR. NICHOLS SAID.

HE POINTED OUT THAT THE CO-OPERATIVE MOVEMENT IN HONG KONG IS NOW MORE THAN 25 YEARS OF AGE AND IS FIRMLY ESTABLISHED AS A WAY OF LIFE PARTICULARY FOR MANY OF THE PRIMARY PRODUCERS.

HE SAID AT PRESENT THE LIVES OF NEARLY 100,000 PEOPLE IN HONG KONG ARE BENEFITED BY INVOLVEMENT WITH THE CO-OPERATIVE MOVEMENT.

THERE ARE 130 CO-OPERATIVE SOCIETIES PROVIDING ECONOMIC SERVICES RANGING FROM MARKETING TO THE PROVISION OF CREDIT FACILITIES TO ABOUT 48,000 TO 50,000 FARMERS, FISHERMEN AND THE IR FAMILIES.

THE MOVEMENT ALSO INCLUDES 24 CO-OPERATIVES WHICH AIM AT PROVIDING SOCIAL AND MANAGEMENT SERVICES FOR SOME 2,000 FAMILIES OR MORE THAN 8,000 PERSONS IN SELF-HELP HOUSING PROJECTS FOR PRIMARY PRODUCERS.

IN A MORE GENERAL FIELD, MR. NICHOLS SAID, THERE ARE 253 CO-OPERATIVE SOCIETIES OF WHICH ONLY FOUR ARE CONCERNED WITH THRIFT AND LOAN ACTIVITIES AND THE REMAINING 249 SOCIETIES PROVIDE PRIMARILY SOCIAL SERVICES FOR THEIR MEMBERS AND FAMILIES TOTALLING 35,000 PEOPLE.

TURNING TO THE CREDIT UNION MOVEMENT. MR. NICHOLS SAID THIS MOVEMENT WAS YOUNGER, HAVING COME INTO LEGAL EXISTENCE ONLY 10 YEARS AGO. AT PRESENT THERE ARE 55 CREDIT UNIONS WITH SOME 10,500 MEMBERS DRAWN FROM ASSOCIATIONAL, EMPLOYMENT AND RESIDENTIAL LINKAGES.

+THE CREDIT UNION CONCEPT SEEKS TO ESTABLISH AGENCIES FOR THRIFT AND PERSONAL CREDIT, TO CHANNEL MEMBERS' SAVINGS INTO PRODUCTIVE AND USEFUL UNDERTAKINGS AND TO PROVIDE A SOURCE OF CREDIT TO MEMBER IN TIME OF NEED, HE SAID.