XN000022-1983-05-27 — Page 2

FRIDAY, MAY 27, 1983

DOLLAR WILL REGAIN STRENGTH - GOVERNOR

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THE GOVERNOR, SIR EDWARD YOUDE, SAID TODAY (FRIDAY) HE MAINTAINED THE VIEW THAT THERE WAS UNDERLYING STRENGTH IN THE HONG KONG ECONOMY AND THAT THE DOLLAR WOULD REGAIN ITS STRENGTH.

REPLYING TO QUESTIONS FROM REPORTERS AFTER OFFICIATING AT THE OPENING CEREMONY OF THE TANG SHIU KIN SPORTS GROUND IN SAI KUNG, SIR EDWARD POINTED OUT THAT HE NEVER COMMENTED ON THE RATE OF THE HONG KONG DOLLAR -- +BUT WHAT I DO DO IS SAY THAT THE STRENGTH OF THE HONG KONG ECONOMY, THE UNDERLYING STRENGTH, IS STILL THERE..

+I'VE ALWAYS HAD THE SAME VIEW, HE SAID.

REPLYING TO ANOTHER QUESTION ON WHETHER THE GOVERNMENT WOULD CONSIDER +POSITIVE INTERVENTION+, SIR EDWARD SAID THE GOVERNMENT NEVER SAID WHETHER OR NOT IT WAS ́ INTERVENING.

BEFORE ATTENDING THE OPENING CEREMONY, THE GOVERNOR TOURED SAI KUNG TOWN TO GET FIRST HAND INFORMATION ON MAJOR INFRASTRUCTURE IMPROVEMENTS BEING PLANNED TO MEET THE VARIOUS NEEDS OF THE RISING POPULATION WHICH IS EXPECTED TO GO UP TO 45 000 BY 1996 FROM THE PRESENT 15 000,

THE DEVELOPMENTS WILL INCLUDE A MARKET AND HAWKER BAZAAR, A GOVERNMENT OFFICE, A TOWN HALL, A GOVERNMENT CLINIC, TWO 12-STOREY RESIDENTIAL AND COMMERCIAL BLOCKS AND A FOUR-STOREY CAR PARK.

THE GOVERNOR, SIR EDWARD YOUDE, AND LADY YOUDE TODAY (FRIDAY) INSPECTED THE PROGRESS OF WORK DURING A BRIEF TOUR OF THE SAI KUNG TOWN BEFORE OPENING THE TANG SHIU KIN SPORTS GROUND.

ACCOMPANIED BY THE REGIONAL SECRETARY FOR THE NEW TERRITORIES, MR HAIDER BARMA, SIR EDWARD AND LADY YOUDE FIRST WENT TO THE ROOF OF A BUILDING FOR A PANORAMIC VIEW OF THE TOWN.

RECLAMATION WORK, WHICH WILL PROVIDE LAND FOR THE TOWN'S EXTENSION, IS PROGRESSING BY THE WATERFRONT. ON THE RECLAIMED SITE WILL BE A TRANSPORT COMPLEX COMPRISING A BUS TERMINUS, MAXICAB AND TAXI STANDS AND A FERRY PIER.

ACCORDING TO THE PROJECT MANAGER OF THE JUNK BAY DEVELOPMENT OFFICE, MR NORMAN TUCKER, A SWIMMING POOL AND SPORTS COMPLEX TO BE BUILT NEARBY, TOGETHER WITH THE TANG SHIU KIN SPORTS GROUND, WOULD HELP PROVIDE MUCH-NEEDED RECREATIONAL FACILITIES FOR THE LOCAL PEOPLE.

A TEMPORARY HOUSING AREA IS ALSO BEING PROPOSED TO THE NORTH OF THE SPORTS GROUND AND THE POSSIBILITY OF CREATING A NEW BEACH IS BEING INVESTIGATED.

THE PARTY LATER WALKED THROUGH THE SAI KUNG OLD TOWN THE MARKET TOWN PASSING THE WATERFRONT PROMENADE WHICH WILL BE PAVED AND LANDSCAPED FOR PEDESTRIAN USE, AND BUILT WITH SPECTATOR STANDS FOR DRAGON BOAT RACES.

/THE DISTRICT