XN000022-1983-03-10 — Page 4

THURSDAY, MARCH 10, 1983

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LAND EXCHANGE SYSTEM ABOLISHED

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THE GOVERNOR-IN-COUNCIL HAS DECIDED TO ABOLISH THE LAND EXCHANGE SYSTEM, ALSO KNOWN AS LETTER B SYSTEM, WITH IMMEDIATE EFFECT.

ANNOUNCING THIS TODAY, A GOVERNMENT SPOKESMAN SAID THAT THE DECISION WAS REACHED AFTER NEGOTIATIONS BETWEEN THE GOVERNMENT AND HEUNG YEE KUK.

HE SAID THAT NO MORE LETTER B WOULD BE OFFERED FOR FUTURE RESUMPTIONS ALTHOUGH THE GOVERNMENT WOULD HONOUR ANY OFFERS OF LETTER B MADE IN RESPECT OF RESUMPTIONS ALREADY ORDERED.

IN NEW CASES, HE ADDED, THE BASIC EX-GRATIA COMPENSATION RATE FIXED BY THE Y.K. KAN REPORT WOULD BE ENHANCED BY 20 PER CENT TO COMPENSATE FOR THE REMOVAL OF THE LETTER B OFFER.

THE SPOKESMAN SAID THAT THE NEW RATES FOR AGRICULTURAL LAND RESUMED IN THE NEW TERRITORIES WOULD ALSO APPLY TO AGRICULTURAL LAND RESUMED IN THE URBAN AREA.

HE SAID THAT PROPOSALS WERE BEING CONSIDERED TO AMEND THE CROWN LANDS RESUMPTION ORDINANCE TO ALLOW STATUTORY COMPENSATION TO BE ASSESSED ON THE BASIS OF WHAT A WILLING BUYER WOULD PAY TO A WILLING SELLER IN THE OPEN MARKET.

HONG KONG/SWEDEN TEXTILES TALKS ADJOURNED

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THE TEXTILES NEGOTIATIONS FOR A NEW AGREEMENT BETWEEN HONG KONG AND SWEDEN WHICH BEGAN IN STOCKHOLM ON MARCH 2 WERE ADJOURNED ON TUESDAY (MARCH 8).

THIS WAS THE SECOND ROUND OF NEGOTIATIONS. THE TWO SIDES DID NOT REACH A SETTLEMENT FOR A NEW AGREEMENT TO REPLACE THE CURRENT TWO-YEAR AGREEMENT DUE TO EXPIRE ON MARCH 31.

A SPOKESMAN FOR THE TRADE DEPARTMENT SAID THAT THE NEGOTIATIONS WERE EXPECTED TO RESUME IN MAY OR JUNE.

MEANWHILE, THE TWO SIDES HAVE AGREED TO EXTEND THE CURRENT AGREEMENT BY FIVE MONTHS TO AUGUST 31.

THE TRADE DEPARTMENT WILL SHORTLY ANNOUNCE THE DETAILS OF THE CONTROL ARRANGEMENTS REGARDING EXPORTS OF TEXTILES TO SWEDEN UNDER THE EXTENDED RESTRAINT PERIOD.

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