XN000022-1983-10-06 — Page 3

عليقات بلند

THE

THESE STUDIES INCLUDE THE NORTHEASTERN NEW TERRITORIES NORTHWESTERN NEW TERRITORIES, THE HARBOUR AREA, LANTAU, JUNK BAY AND SAI KUNG.

THEY WILL HAVE TO BE CONSIDERED BY THE LAND DEVELOPMENT POLICY COMMITTEE, OF WHICH SIR PHILIP IS CHAIRMAN, SO THAT VARIOUS CONFLICTING CONSIDERATIONS BROUGHT OUT CAN BE RECONCILED.

ASKED HOW OPTIMISTIC HE WAS THAT STAGE TWO OF THE JUNK BAY DEVELOPMENT WOULD GO AHEAD, SIR PHILIP SAID THE LIKELIHOOD OF JUNK BAY PLAYING AN IMPORTANT ROLE IN THE LONG-TERM DEVELOPMENT WAS HIGH.

+WE HAVE COMMITTED OURSELVES TO A DESIGNED POPULATION OF 175 000 FOR JUNK BAY, HE SAID.

+WHAT ADDITIONAL ROLE IT WOULD PLAY IN THE LONG-TERM DEVELOPMENT REMAINS TO BE SEEN.+

IN REPLY TO A QUESTION ON THE REVIEW OF DISTRICT ADMINISTRATION ANNOUNCED BY THE GOVERNOR YESTERDAY, SIR PHILIP SAID IT WAS TIME TO SEE WHETHER ANY IMPROVEMENT SHOULD BE MADE BASED ON EXPERIENCE OF THE 18 DISTRICT BOARDS.

THE REVIEW WILL INCLUDE THE ROLE OF THE DISTRICT BOARDS, THE METHOD OF MANNING THEM, THE METHOD OF SERVICING THEM VIA THE DISTRICT MANAGEMENT COMMITTEES AND SO ON, HE SAID.

+HAVING INTRODUCED A MEASURE OF REFORM, CLEARLY ONE WISHES TO ASSESS IT.

+ONE MUSTN'T BE COMPLACENT ABOUT THESE THINGS, AND ASSESSMENTS SHOULD BE A CONTINUING PROCESS, + HE SAID.

ASKED WHETHER THE ROLE OF THE DISTRICT BOARDS WOULD BE MORE IMPORTANT AFTER THE REVIEW, SIR PHILIP SAID NO WAY WOULD ANY REVIEW, I WOULD HAVE THOUGHT, DOWNGRADE THE ROLE OF THE DISTRICT BOARDS.+

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AUGUST MONETARY STATISTICS PUBLISHED

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TOTAL MONEY SUPPLY INCREASED FAIRLY RAPIDLY DURING AUGUST, IT IS SHOWN IN MONETARY STATISTICS PUBLISHED TODAY.

M3

HOWEVER, THE ENTIRE INCREASE IN THE BROADEST MEASURE CAME FROM THE FOREIGN CURRENCY COMPONENT, MUCH OF WHICH WAS DUE TO THE VALUATION EFFECT ARISING FROM THE DEPRECIATION OF THE HONG KONG DOLLAR.

THERE WAS NO INCREASE IN HONG KONG DOLLAR DEPOSITS DURING THE MONTH BUT THERE WAS A SHIFT OF SUCH DEPOSITS FROM DEPOSIT-TAKING COMPANIES TO BANKS. BY CONTRAST, FOREIGN CURRENCY DEPOSITS INCREASED SUBSTANTIALLY (EVEN AFTER ALLOWING FOR THE VALUATION EFFECT) WITH THE DEPOSIT-TAKING COMPANY SECTOR FURTHER INCREASING ITS SHARE OF SUCH DEPOSITS.

TOTAL LOANS AND ADVANCES INCREASED FURTHER, BUT AGAIN MUCH OF THE INCREASE CAME FROM THE FOREIGN CURRENCY COMPONENT, WHICH WAS SUBJECT TO THE VALUATION EFFECT. LOANS TO FINANCE HONG KONG'S VISIBLE TRADE WERE LITTLE CHANGED BUT OTHER LOANS FOR USE

IN HONG KONG, WHICH ARE LARGELY DENOMINATED IN HONG KONG DOLLARS, REPORTED SOME INCREASE.

HONG KONG