WEDNESDAY, AUGUST 7, 1985
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NOT ONLY WERE THESE MANUFACTURING CHALLENGES INHERENTLY COMPLEX, THEY WERE ALSO PERVASIVE AND INTERDEPENDENT.
AS A RESULT, THEY OFTEN DEMANDED AN INTEGRATED PROBLEM- SOLVING APPROACH.
+THIS AMENDMENT BILL NOT ONLY GIVES RECOGNITION TO THE EXPANDED FUNCTIONS OF THE COUNCIL, BUT ALSO LAYS A STRONG FOUNDATION FROM WHICH IT CAN FURTHER FULFIL ITS ROLE IN THE INDUSTRIAL DEVELOPMENT OF HONG KONG,✦ MR LEE SAID.
CONFIDENCE EXPRESSED IN UNIFIED EXCHANGE
*****
AT THE END OF THIS YEAR THE HONG KONG UNIFIED EXCHANGE WOULD BE LAUNCHED INTO THE WORLD SECURITIES MARKET IN AN ERA OF REVIVING CONFIDENCE IN HONG KONG, THE HON MARIA TAM MADE THIS PREDICTION TODAY (WEDNESDAY) ADDING THAT SHE WAS SURE IT WOULD RECOVER ITS FORMER POSITION IN THE ASIAN REGION.
SPEAKING DURING THE RESUMED DEBATE ON THE SECURITIES (AMENDMENT) BILL, MISS TAM NOTED, HOWEVER, THAT THE REAL SAFEGUARD TO THE INTERESTS OF LOCAL AND OVERSEAS INVESTORS LAY IN THE DETERMINATION OF THE COMMISSIONER FOR SECURITIES IN EXERCISING HIS POWER OF INVESTIGATION INTO THE ACTIVITIES OF DEALERS.
+ONE EXTREMELY IMPORTANT FEATURE OF THIS REFORM IS THAT THE HONG KONG EXCHANGE COMPANY WILL ASSUME RESPONSIBILITIES FOR MONITORING THE PERFORMANCE OF THOSE DEALERS WHO ARE MEMBERS OF THE UNIFIED EXCHANGE.
+ I HOPE TIME WILL PROVE THAT IN HONG KONG WE CAN CLAIM NOT ONLY A VIBRANT MARKET FOR SECURITIES TRADING, BUT ALSO A FINE TRADITION OF SELF-REGULATION IN THIS INDUSTRY, SHE SAID.
MISS TAM SAID THE STOCK EXCHANGES UNIFICATION (AMENDMENT) BILL PROPOSED TO EXPAND THE MEMBERSHIP OF THE UNITED EXCHANGE TO BANKS AND DEPOSIT-TAKING COMPANIES, AND THE ACCOUNTANTS AND LEGAL PROFESSIONALS, WHILE THE SECURITIES (AMENDMENT) BILL DEALT MAINLY WITH MEASURES TO IMPROVE QUALITY CONTROL OF DEALERS IN SECURITIES.
THANKING MISS TAM FOR SUPPORTING THE BILL, THE SECRETARY FOR ECONOMIC SERVICES, THE HON PIERS JACOBS, SAID THAT IMPROVEMENTS IN STANDARDS HAD TO BE SOUGHT IN THE FINANCIAL SERVICES SECTOR AS INDEED IN ANY OTHER SECTOR OF THE ECONOMY+.
/AS FAR
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