XN000022-1982-03-11 — Page 3

THURSDAY, MARCH 11, 1982

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+1 THEREFORE CONGRATULATE THE HONG KONG TUBERCULOSIS, CHEST AND HEART DISEASES ASSOCIATION AND THE HONG KONG HEART FOUNDATION ON ACTING TO MEET THIS NEW CHALLENGE, AND CONGRATULATE MR KWOK FOR HIS EXTRAORDINARILY GENEROUS DONATION OF $12 MILLION TOWARDS THE COST OF THIS NEW CENTRE FOR THE TREATMENT OF CARDIOVASCULAR DISEASES.

+THE VOLUNTARY SECTOR HAS ALWAYS PLAYED A VERY IMPORTANT ROLE IN THE DEVELOPMENT OF MEDICAL AND WELFARE SERVICES IN HONG KONG- AND THIS PROJECT, AS MR WOO HAS POINTED OUT, IS A JOINT INITIATIVE OF THE HONG KONG TUBERCULOSIS, CHEST AND HEART DISEASES ASSOCIATION AND THE HONG KONG HEART FOUNDATION. IT IS A MOST HAPPY EVENT THAT THE TWO ORGANISATIONS SHOULD HAVE POOLED THEIR RESOURCES AND EXPERTISE TO MEET THIS NEW MEDICAL PROBLEM.

+THE OPENING OF THIS CARDIO-THORACIC CENTRE WILL MARK A NEW CHAPTER IN THE HISTORY OF THE GRANTHAM HOSPITAL. IT WILL PROVIDE ONE OF THE BEST EQUIPPED CENTRES FOR THE TREATMENT OF CARDIOVASCULAR DISEASES IN ASIA, SOMETHING WHICH HONG KONG NEEDS AND CAN BE PROUD OF, AND 1 CONGRATULATE ALL WHO HAVE PLAYED A PART IN ITS CREATION.

+1 AM SURE THAT ALL PRESENT WILL UNDERSTAND IF ON THIS OCCASION I RESERVE A SPECIAL TRIBUTE TO THE LATE SUSAN YUEN, FOR SO MANY YEARS CHAIRMAN OF THE HOUSE COMMITTEE OF THIS HOSPITAL. SHE WAS ONE OF THE STERLING CHARACTERS OF HONG KONG, AND WITHOUT HER THE HOSPITAL WOULD NOT EXIST IN ITS PRESENT FORM TO-DAY.

+1 HAVE MUCH PLEASURE IN DECLARING THE KWOK TAK SENG HEART CENTRE OPEN.+

MONEY SUPPLY AND FINANCIAL STATISTICS: JANUARY 1982

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THE MONEY SUPPLY AND FINANCIAL STATISTICS FOR JANUARY 1982 ARE PUBLISHED TODAY. THE MONETARY AGGREGATES ARE AS USUAL HEAVILY AFFECTED BY THE SEASONAL INFLUENCES OF THE LUNAR NEW YEAR AND OF TAX PAYMENTS MADE DURING THE FIRST QUARTER OF THE YEAR.

A FURTHER RISE IN THE MONEY SUPPLY ON ALL DEFINITIONS IN JANUARY REFLECTED A (PARTLY SEASONAL) GROWTH IN TOTAL LOANS FOR USE IN HONG KONG. BUT IN THE LAST THREE MONTHS THE GROWTH RATES OF THE MONEY SUPPLY (M3) AND OF LOANS FOR USE IN HONG KONG, AFTER ALLOWING FOR SEASONAL FACTORS, WERE LITTLE CHANGED FROM THE GROWTH RATES IN THE PREVIOUS THREE MONTHS.

THE TABLE (BOXED FOR COLLECTION) SETS OUT THE DETAILED FIGURES FOR JANUARY 1982, AND FOR EARLIER MONTHS, FROM THE NEW SERIES OF STATISTICS NOW BEING COLLECTED UNDER THE MONETARY STATISTICS ORDINANCE 1980. THIS SERIES HAS NOW REPLACED THE ORIGINAL SERIES OF STATISTICS PREPARED BY THE COMMISSIONER OF BANKING, WHICH WILL NO LONGER BE PUBLISHED.

MONEY SUPPLY