XN000022-1986-04-04 — Page 6

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FRIDAY, APRIL 4, 1986

+1, IN FACT, MEET VERY LARGE NUMBERS OF THEM FAIRLY REGULARLY +۱, JUST AS I HAVE BEEN MEETING SOME OF THE DISTRICT PEOPLE THIS AFTERNOON. I HAVE GREAT ADMIRATION FOR THEIR WORK AND I JUST WANT TO DO IT A LITTLE MORE SYSTEMATICALLY SINCE I HAVE SOME TIME NOW. SO ANY IDEA THAT I AM DISSATISFIED YOU CAN FORGET.+

WHEN ASKED ABOUT THE EXCHANGE FUND, SIR EDWARD SAID THE FINANCIAL SECRETARY WOULD MAKE A STATEMENT IN LEGISLATIVE COUNCIL ON THAT MATTER.

WHAT HAD HAPPENED THIS WEEK HAD SHOWN THAT OUR FIRST CONCERN WAS FOR THE INTEREST OF DEPOSITORS AND THE INTEREST OF HONG KONG AS A FINANCIAL CENTRE, AND ITS IMAGE AS A FINANCIAL CENTRE WAS VERY IMPORTANT, HE SAID.

+NOW THE POWERS ARE THERE FOR THE COMMISSIONER OF BANKING AND THE FINANCIAL SECRETARY TO USE, AND I THINK THEY HAVE USED THEM VERY SUCCESSFULLY.

+THE PROOF OF THE PUDDING IS IN THE EATING IN THAT YOU HAVE SEEN THIS WEEK THE SITUATION IN HONG KONG HAS BEEN VERY STABLE.+

ASKED WHETHER THE GOVERNMENT WAS SHOWING FAVOURITISM TOWARDS CERTAIN BANKS, SIR EDWARD SAID THERE HAD BEEN NO FAVOURITISM SHOWN TO ANYBODY.

+EACH CASE IS BEING DEALT WITH BY THE FINANCIAL SECRETARY AND THE COMMISSIONER OF BANKING ON THE MERITS OF THE CASE.

+AND YOU CAN BE QUITE SURE IT IS NOT FAVOURITISM WHICH IS AT ISSUE. IT IS THE INTEREST OF HONG KONG AND INTEREST OF HONG KONG'S FINANCIAL STABILITY.+

ON THE NATIONALITY BILL, SIR EDWARD SAID IT WAS STILL UNDER. CONSIDERATION IN LONDON. +BUT I HOPE IT WON'T BE TOO LONG NOW BEFORE WE HEAR SOME NEWS ON THAT.+

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