XN000022-1984-10-24 — Page 14

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WEDNESDAY, OCTOBER 24, 1984

+wE FOCUSING HIS DISCUSSION ON THE FIRST PERIOD, HE SAID, SHOULD FIRST TRY OUR BEST TO REMOVE THE SHADOW CAST BY POLITICAL UNCERTAINTIES THAT BOTHERED US IN THE LAST TWO YEARS.+

HE POINTED OUT THAT OTHER THAN INFORMING US THAT THE PEGGED EXCHANGE RATE SYSTEM WOULD REMAIN IN FORCE AND STRONGER REGULATION WOULD BE INTRODUCED IN THE FINANCIAL SECTOR, NOTHING HAD BEEN SAID IN THE POLICY ADDRESS ABOUT THE INTRODUCTION OF POSITIVE MEASURES TO ENCOURAGE AND STIMULATE INVESTMENTS, IN PARTICULAR CAPITAL INVESTMENTS AND RE-INVESTMENTS.

+FURTHERMORE, NO IDEA HAS BEEN GIVEN ON WAYS TO RETAIN BRAINS AND WEALTH. IT IS MY HOPE THAT GOVERNMENT WILL GIVE MORE SPECIFIC DETAILS AND MAKE MORE DEFINITE ARRANGEMENTS IN THESE RESPECTS,+ HE SAID.

+THE SECOND CRUCIAL TASK OF THIS PERIOD IS TO CONTINUE TO MAINTAIN THE STANDARD OF LIVING OF THE HONG KONG PEOPLE, DEVELOP OUR INFRASTRUCTURE AND INTRODUCE VARIOUS KINDS OF SOCIAL PROGRAMMES, TO SHOW AND CONVINCE THE WORLD AND THE HONG KONG PEOPLE THAT THE HONG KONG GOVERNMENT IS DETERMINED TO MAINTAIN PROSPERITY AND STABILITY IN HONG KONG FOR THE PERIOD LEADING UP TO 1997,+ HE ADDED.

THE THIRD CRUCIAL TASK IN THIS PERIOD WAS UPHOLDING THE GOVERNMENT'S AUTHORITY.

WITH THE IMPENDING TRANSFER OF SOVEREIGNTY IT WOULD NOT BE AS EASY TO EXERCISE AUTHORITY AS BEFORE, HE SAID.

+MINOR SOCIAL DISCONTENT COULD EASILY FLARE UP AND RESULT

IN CHAOS AND INSTABILITY, MR WONG PREDICTED.

+THUS, THE GOVERNMENT SHOULD PAY MUCH GREATER CARE TO THE WISHES OF THE PEOPLE IN INTRODUCING ITS POLICIES.+

BILLS AND MEASURES THAT MIGHT CAUSE DISTURBANCES SUCH AS THE ONE CAUSED BY THE TAXI DRIVERS' LINE-UP THIS YEAR SHOULD BE AVOIDED AS FAR AS POSSIBLE.

+ THE FOURTH CRUCIAL TASK OF THE FIRST PERIOD IS TO MAKE THE NECESSARY ARRANGEMENTS IN THE POLITICAL STRUCTURE SO THAT THE PEOPLE OF HONG KONG WILL GOVERN HONG KONG TO AN APPRECIABLE EXTENT DURING THE SECOND PERIOD, + MR WONG SAID.

+I THINK THIS PREPARATION SHOULD INVOLVE TWO ASPECTS,

+FIRSTLY, DIRECT ELECTIONS TO A LIMITED EXTENT SHOULD BE INTRODUCED TOWARDS THE END OF THE FIRST PERIOD SO THAT HONG KONG PEOPLE WOULD HAVE A CHANCE TO GET IN TOUCH WITH THIS INEVITABLE REALITY IN THE LATE 80'S, GAIN EXPERIENCE FROM THESE ELECTIONS AND TO INTRODUCE IMPROVEMENTS WHERE NECESSARY.

/+I AGREE