XN000022-1979-11-16 — Page 3

FRIDAY, NOVEMBER 16, 1979

HK/USA TEXTILE TALKS CONTINUING IN WASHINGTON

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DISCUSSIONS BETWEEN THE DIRECTOR OF TRADE INDUSTRY AND CUSTOMS, MR. WILLIAM DORWARD, AND USA TRADE OFFICIALS ARE CONTINUING IN WASHINGTON.

ANNOUNCING THIS TODAY (FRIDAY) THE DIRECTOR OF TRADE, MR. PETER TSAO, SAID A NEWS AGENCY REPORT HAD GIVEN THE IMPRESSION THAT THE DISCUSSIONS HAD ENDED INCONCLUSIVELY.

+YESTERDAY MR. DORWARD HAD A MEETING WITH THE USA SPECIAL REPRESENTATIVE FOR TRADE, MR. REUBEN ASKEW, ON A POSSIBLE FRAMEWORK IN WHICH CONSULTATIONS ON THE CURRENT HONG KONG/US TEXTILE AGREEMENT COULD BE RESUMED, SAID MR. TSAO.

+FOLLOWING THIS MEETING MR. DORWARD IS HAVING FURTHER TALKS

WITH USA TRADE OFFICIALS, HE SAID.

MR. DORWARD IS EXPECTED TO RETURN TO HONG KONG NEXT WEEK.

REPORT ON QUARTERLY BUSINESS SURVEY PUBLISHED

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THE CENSUS AND STATISTICS DEPARTMENT HAS COMPILED A REPORT ON A QUARTERLY BUSINESS SURVEY HELD IN OCTOBER THIS YEAR,

IN THE SURVEY ABOUT 820 FIRMS FROM VARIOUS INDUSTRIES, REPRESENTING A CROSS-SECTION OF THE ECONOMIC COMMUNITY, WERE ASKED ABOUT THE IR BUSINESS EXPERIENCE IN THE THIRD QUARTER THIS YEAR, AND THEIR EXPECTATIONS FOR THE FOURTH QUARTER.

THE SURVEY INDICATED THAT IN THE THIRD QUARTER HONG KONG'S BUSINESS PERFORMANCE WAS BETTER THAN HAD EARLIER BEEN EXPECTED AND FAIRLY SUBSTANTIAL IMPROVEMENTS WERE ACHIEVED.

+LOOKING INTO THE FOURTH QUARTER, FURTHER ADVANCES ARE EXPECTED BY ALL FIRMS WITH OPTIMISM MAINLY FROM THE SERVICES SECTOR, A SPOKESMAN FOR THE DEPARTMENT SAID.

IN THE MANUFACTURING SECTOR, WATCHES AND CLOCKS' INDUSTRY DID VERY WELL IN THE THIRD QUARTER AND IS REMARKABLY CONFIDENT FOR THE FOURTH QUARTER.

THE 'ELECTRONICS' AND 'MISCELLANEOUS MANUFACTURING INDUSTRIES' ALSO HAD A GOOD THIRD QUARTER, AND THEY PREDICT A STEADY FOURTH QUARTER.

'WEARING APPAREL 'TEXTILES' 'PRINTING' AND 'FABRICATED METAL PRODUCTS' EXPERIENCED MODERATE IMPROVEMENTS IN THE THIRD QUARTER AND EXPECT BUSINESS TO STAY AT THE SAME LEVEL IN THE FOURTH QUARTER.

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