XN000022-1979-08-16 — Page 3

THURSDAY, AUGUST 16, 1979

THE +MISCELLANEOUS BUSINESS SERVICES+ SECTOR REPORTED SIGNIFICANT IMPROVEMENTS IN THE SECOND QUARTER AND IS OPTIMISTIC OF FURTHER ADVANCES TO COME.

THE SPOKESMAN SAID THAT THE DATA, OBTAINED WITH A MINIMUM TIME LAG, WERE BASICALLY INTENDED TO FACILITATE A QUICK ASSESSMENT OF THE CURRENT ECONOMIC SITUATION IN HONG KONG.

APART FROM A LIMITED NUMBER OF QUESTIONS REQUIRING ANSWERS IN QUANTITATIVE TERMS, FIRMS WERE ASKED TO COMPARE THE QUARTER JUST PAST WITH THE PREVIOUS QUARTER AND SIMILARLY FOR THE FORTHCOMING ONE, AND ONLY HAD TO INDICATE WHETHER, IN THEIR OPINION, A CERTAIN VARIABLE WAS +UP,++SAME OR DOWN.+

THE SPOKESMAN CAUTIONED THAT IN A SURVEY OF THIS NATURE, CONSIDERABLE RESERVATIONS MUST BE MADE IN THE INTERPRETATION OF RESULTS, AS IT WAS DIFFICULT TO ESTABLISH THE EXTENT TO WHICH THE RESPONDENTS' PRECEPTION OF THE PAST AND THE FUTURE ACCORDS WITH THE UNDERLYING TRENDS, AND THE SURVEY RESULTS ARE PROBABLY AFFECTED CONSIDERABLY BY SEASONALITY.

COPIES OF THE REPORT, CONTAINING AN ANALYSIS OF AND STATISTICAL TABLES ON VARIOUS ECONOMIC VARIABLES, HAVE BEEN DISTRIBUTED TO FIRMS TAKING PART IN THE SURVEY AND OTHER BUSINESS ORGANISATIONS.

CONSORTIUM CHOSEN TO CARRY OUT EXHIBITION CENTRE STUDY

*****

A BRITISH CONSORTIUM EXHIBITION CONSULTANTS LTD. AND EARLS COURT AND OLYMPIA LTD. -- HAS BEEN SELECTED TO UNDERTAKE A STUDY ON THE DEMAND FOR AND THE VIABILITY OF AN EXHIBITION CENTRE IN HONG KONG.

THE AGREEMENT FOR THE CONSULTANCY WAS SIGNED IN LONDON YESTERDAY (WEDNESDAY) WITH MR. S.A. WEBB-JOHNSON, ACTING HONG KONG COMMISSIONER, LONDON, ACTING ON BEHALF OF THE HONG KONG GOVERNMENT.

THE STUDY WILL START SHORTLY, AND IS EXPECTED TO TAKE FOUR AND A HALF MONTHS TO COMPLETE.

ANNOUNCING THE APPOINTMENT, MR. ROY PORTER, COMMISSIONER OF INDUSTRY, SAID THAT THE CONSORTIUM WILL PROVIDE DATA AND ADVICE ON WHICH A DECISION CAN BE TAKEN ON THE ECONOMIC JUSTIFICATION FOR PROVIDING TRADE FAIR AND EXHIBITION FACILITIES IN HONG KONG.

*THE GOVERNMENT HAS TENTATIVELY RESERVED A SITE OF 58,000 SQUARE FEET CLOSE TO THE HUNG HOM RAILWAY TERMINUS, BUT I HOPE THAT IT WILL BE POSSIBLE FOR THE CONSULTANTS TO VIEW ALTERNATIVE SITES BEFORE MAKING THEIR RECOMMENDATIONS,+ SAID MR. PORTER.

THE CONSULTANTS WILL ASSESS THE EXISTING AND POTENTIAL DEMAND FOR EXHIBITIONS, TRADE FAIRS AND OTHER SIMILAR FUNCTIONS WHICH MIGHT BE HELD IN HONG KONG IF SUITABLE FACILITIES EXISTED.

/THEY WILL