XN000022-1985-12-10 — Page 7

TUESDAY, DECEMBER 10, 1985

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IN THE TRANSPORT FIELD, SAID MR CHAN: THE DECISION TO CONSTRUCT A SECOND SUBMERGED HARBOUR CROSSING IS PROVIDING ANOTHER OPPORTUNITY FOR PRIVATE SECTOR PARTICIPATION IN A PROJECT OF MAJOR IMPORTANCE TO THE FURTHER DEVELOPMENT OF HONG KONG'S INFRASTRUCTURE. ·

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HE ALSO MENTIONED THE MASS TRANSIT RAILWAY. IN WHICH THE GOVERNMENT HAD A SUBSTANTIAL EQUITY AND THE ELECTRIFICATION OF THE KOWLOON CANTON RAILWAY, FUNDED FROM THE PUBLIC WORKS PROGRAMME, AS EXAMPLES OF HOW HEAVY DEVELOPMENT COSTS HAD BEEN SHARED BETWEEN THE PUBLIC PURSE AND PRIVATE RESOURCES.

HOWEVER, HE EMPHASISED THAT HOUSING HAD BEEN THE LYNCH-PIN OF THE GOVERNMENT'S MAJOR CAPITAL INVESTMENT PROGRAMMES IN THE PAST TWO DECADES.

SINCE THE SETTING UP OF THE HOUSING AUTHORITY IN 1973, SOME $13 BILLION IN GRANTS AND LOANS HAD BEEN MADE AVAILABLE FROM THE DEVELOPMENT LOAN FUND AND THE GOVERNMENT NOW HOUSED MORE THAN 2.5 MILLION PEOPLE.

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FOR THE IR PART, PRIVATE DEVELOPERS HAD MADE A MAJOR CONTRIBUTION TO THE INCREASE IN HOUSING STOCK. DESPITE THE PROPERTY SLUMP THE LAST FEW YEARS HAD SEEN INVESTMENT IN SEVERAL VERY LARGE AND IMAGINATIVE PRIVATE HOUSING DEVELOPMENTS COMBINED WITH EXTENSIVE COMMERCIAL AND RECREATIONAL FACILITIES.

MR CHAN CONCLUDED: THE JUDICIOUS BLENDING OF RESOURCES OF THE PUBLIC AND PRIVATE SECTORS HAVE SERVED HONG KONG WELL AND, I AM CONFIDENT, WILL CONTINUE TO DO SO.

+THE PRESENT MOMENTUM OF DEVELOPMENT AND CONSTRUCTION WILL BE MAINTAINED TO THE BENEFIT OF THE PEOPLE OF HONG KONG AND ALL WHO SHARE IN ITS PROSPERITY.+

TAI PO INDUSTRIAL ESTATE BECOMING MORE POPULAR

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THE TAI PO INDUSTRIAL ESTATE HAS BECOME INCREASINGLY POPULAR WITH THE COMPLETION OF THE TOLO HARBOUR HIGHWAY WHICH HAS DRAMATICALLY IMPROVED COMMUNICATIONS WITH THE MAIN URBAN AREAS AND OTHER PARTS OF THE NEW TERRITORIES, DIRECTOR OF INDUSTRY, MR JOHN YAXLEY, SAID TODAY (TUESDAY).

SPEAKING AT THE OPENING OF THE HONG KONG OXYGEN AND ACETYLENE COMPANY'S NEW SPECIAL GAS CENTRE AT THE ESTATE, MR YAXLEY POINTED OUT THAT TAT PO WAS NOW A VERY CONVENIENT LOCATION FOR MANUFACTURING ENTERPRISES.

+GIVEN THE CURRENT LEVEL OF INTEREST IN THE ESTATE, AM CONFIDENT THAT THE REMAINING AREAS WILL BE TAKEN UP RATHER QUICKLY, HE SAID,

/MR YAXLEY