XN000022-1982-03-15 — Page 8

MONDAY, MARCH 15, 1982

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NEW STOCK EXCHANGE WILL BE WORLD LANDMARK, BREMRIDGE SAYS

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HONG KONG'S NEW STOCK EXCHANGE WILL BE A WORLD LANDMARK A FITTING PHYSICAL CENTRE FOR OUR INVISIBLE EARNINGS, THE FINANCIAL SECRETARY, MR JOHN BREMRIDGE, SAID TODAY (MONDAY).

SPEAKING AT THE ELEVENTH ANNIVERSARY CELEBRATION OF THE KAM NGAN STOCK EXCHANGE AT THE FURAMA HOTEL THIS EVENING, MR BREMRIDGE SAID THE DEVELOPMENT OF THE NEW STOCK EXCHANGE WAS ON SCHEDULE AND THE DEVELOPERS WERE GOING WELL BEYOND THE SPECIFICATIONS LAID DOWN BY THE GOVERNMENT AS WAS CHARACTERISTIC.

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+THE IR MASTER PLAN HAS BEEN SUBMITTED. THEIR MODEL OF THE WAY THE SITE WILL BE DEVELOPED SHOWS THAT THE IMAGINATION OF THE IR ARCHITECTS IS IN TUNE WITH HONG KONG'S NEED AND OPPORTUNITY, + MR BREMRIDGE SAID.

MR BREMRIDGE URGED THAT THE PACE OF DEVELOPMENT BE MAINTAINED.

+THERE IS MUCH TO BE DONE IN THE TECHNICAL BACKGROUND OF DEVELOPING THIS NEW EXCHANGE.

+WE HAVE A CHANCE SELDOM GIVEN TO MAJOR FINANCIAL CENTRES TO DEVELOP AFRESH IN THIS WAY, HE SAID.

WORK THIS YEAR ON THE EXCHANGE WOULD BE CRUCIAL IF THE TIMETABLE WAS TO BE MET AND THE CENTRE WAS TO BE WORTHY OF THE OPPORTUNITY GIVEN.

THE FINANCIAL SECRETARY ALSO SAID HE HOPED THAT THE STOCK MARKET AND THE WIDER BASE OF HONG KONG'S MANUFACTURERS AND TRADERS WOULD ACCEPT THAT THE MEASURES HE INTRODUCED IN THE BUDGET WERE DESIGNED TO MAINTAIN GROWTH AND GENERAL PROSPERITY.

+THE MEASURES PROPOSED SHOULD WORK THROUGH THE ECONOMY IN THE COURSE OF THE YEAR TO GIVE THE RIGHT SORT OF STIMULUS IN THE RIGHT SORT OF PLACES TO ACHIEVE AIMS WHICH I AM SURE ARE HELD IN COMMON BY THE GOVERNMENT, BY COMMERCE AND INDUSTRY, AND BY YOUR EXCHANGE, HE SAID.

MR BREMRIDGE STRESSED THAT THE MAIN STRATEGIC AIM WAS TO PROMOTE HONG KONG +AS AN ACCEPTED INTERNATIONAL FINANCIAL CENTRE.+

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