XN000022-1984-08-28 — Page 5

TUESDAY, AUGUST 28, 1984

IN OVERALL TERMS, THE BUILDING INTENTIONS OF PRIVATE DEVELOPERS RECOVERED IN THE FIRST HALF OF 1984, AS EVIDENCED BY AN INCREASE IN THE NUMBER OF BUILDING PLANS WITH CONSENT TO COMMENCE WORK OVER THE SAME PERIOD LAST YEAR. THE SITUATION, HOWEVER, VARIED WITH THE TYPE OF PROPERTY, WITH A VERY SUBSTANTIAL INCREASE FOR RESIDENTIAL PROPERTY BEING OFFSET BY DECREASES FOR COMMERCIAL AND INDUSTRIAL PROPERTY.

ON PRICES, THE REPORT SAYS THAT THE RATE OF INFLATION EXHIBITED A FALLING UNDERLYING TREND.

THE LINKED EXCHANGE RATE SYSTEM NOW IN OPERATION, TOGETHER WITH SEVERAL FAVOURABLE FACTORS, SUCH AS THE MODERATE RATE OF INFLATION IN THE ECONOMIES OF HONG KONG'S MAJOR TRADING PARTNERS AND MODEST RATE OF CREDIT EXPANSION, SHOULD AUGUR WELL FOR

A FURTHER SLOWING DOWN IN THE RATE OF INFLATION IN THE COMING MONTHS.

THE ENGLISH EDITION OF THE REPORT IS NOW ON SALE AT $12

THE CHINESE EDITION WILL BE AVAILABLE SHORTLY.

A COPY.

DB ELECTIONS FOUNDATIONS OF NEW STRUCTURE

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THE CONCEPT AND OBJECTIVE OF HONG KONG PEOPLE GOVERNING THEMSELVES IS ONE TO WHICH THE TERRITORY MUST WORK WITH REALISM, THE SECRETARY FOR DISTRICT ADMINISTRATION, MR DAVID AKERS-JONES, SAID TODAY (TUESDAY).

NEXT YEAR'S DISTRICT BOARD ELECTIONS ARE A STEP TOWARDS THIS PROCESS, HE TOLD A LUNCHEON MEETING OF THE ROTARY CLUB OF HONG KONG.

+WE CANNOT SAY NOW EXACTLY ALL THE CHANGES THAT WILL TAKE PLACE AS THE CONCEPT DEVELOPS, BUT TO BE PART OF THAT DEVELOP ING SCENE AND TO HAVE A SHARE IN THE SYSTEM AS IT DEVELOPS, PEOPLE MUST REGISTER AS VOTERS NOW, HE SAID.

+ IN THE YEARS AHEAD WE HAVE TO BUILD A NEW STRUCTURE OF GOVERNMENT; GENTLY AND GRADUALLY TO TRANSFER THE RESPONSIBILITY FOR GOVERNMENT TO THE PEOPLE OF HONG KONG; TO MAINTAIN THE BOARD AGREEMENTS AND CONSENSUS TO MANAGE OUR ECONOMY; TO INCREASE OUR PROSPERITY AND IMPROVE OUR LIVING STANDARD.

+WE WANT NO SUDDEN EXCITEMENTS, NO CONFLICTS AND NO CONFRONTATIONS.

+THE DISTRICT BOARD ELECTIONS ARE THE FOUNDATIONS OF THE STRUCTURE WE HAVE TO BUILD.+

SPEAK ING ON THE SIGNIFICANCE OF DB ELECTIONS, HE SAID THE BOARDS WERE THE VOICE OF THE MAN IN THE DISTRICT: +KWUN TONG SPEAK ING TO LOWER ALBERT ROAD+.

/+IF FROM