XN000022-1986-04-24 — Page 10

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ON

THURSDAY, APRIL 24, 1986

+HOUSING FOR LOWER-INCOME FAMILIES CONTINUES TO BE A PRIORITY COMMITMENT WITH 2.4 MILLION PEOPLE OR 45 PER CENT OF THE POPULATION NOW LIVING IN EITHER RENTED OR OWNED PUBLIC HOUSING.

+WE HAVE RECENTLY ANNOUNCED PLANS TO BUILD A THIRD UNIVERSITY WHICH WILL MAINTAIN THE QUANTUM AND QUALITY OF HIGHER EDUCATION, AND PROVIDE THE PROFESSIONAL SKILLS VITAL TO OUR TRADE, INDUSTRY AND GOVERNMENT.

+TRANSPORT AND COMMUNICATION LINKS WITH CHINA ARE BEING STRENGTHENED AND ROAD, RAIL AND FERRY SERVICES (WHICH LAST YEAR CARRIED A TOTAL OF 15 MILLION PEOPLE TO CHINA) ARE BEING IMPROVED.

COMPREHENSIVE

+JUST ANNOUNCED IS THE ALLOCATION OF FUNDS FOR A TRANSPORT STUDY' TO PROJECT TRANSPORT DEMAND UP TO THE YEAR 2001, + HE SAID.

AT THE SAME TIME, MR SCOTT SAID, THE CONFIDENCE OF THE PRIVATE SECTOR TO MAINTAIN THEIR INVESTMENT CONTINUED TO BE FORTHCOMING.

-

*AS A RESULT OF PRIVATE INVESTMENT, WORK ON A US$260 MILLION EXPANSION OF OUR CONTAINER PORT ALREADY THE THIRD, AND EXPECTED SOON TO BECOME THE SECOND, IN THE WORLD IN THROUGH-PUT TERMS - BEGAN IN 1985.

+A JOINT VENTURE PROJECT BETWEEN GUANGDONG AND HONG KONG'S CHINA LIGHT AND POWER COMPANY IS UNDERWAY FOR THE CONSTRUCTION OF A NUCLEAR POWER STATION, 30 MILES ACROSS THE BORDER. WHEN COMPLETED, THIS WILL PROVIDE POWER FOR CONSUMERS IN BOTH HONG KONG AND GUANGDONG INTO THE 21ST CENTURY.

+PRIVATE INVESTORS FROM JAPAN, CHINA AND GREAT BRITAIN WILL BEGIN WORK LATER THIS YEAR ON A US$390 MILLION SECOND ROAD AND RAIL CROSSING UNDER THE HARBOUR, LINKING HONG KONG WITH KOWLOON, HE SAID.

HOWEVER, MR SCOTT SAID, PUBLIC CONFIDENCE COULD BE VOLATILE AND IT DEPENDED NOT ONLY ON THE FAITHFUL OBSERVANCE OF THE SINO-BRITISH AGREEMENT, BUT ALSO ON POLITICAL STABILITY IN CHINA AND THE CONTINUANCE OF CHINA'S OUTWARD LOOKING AND PRAGMATIC POLICIES,

+OF CRUCIAL IMPORTANCE TOO IS THE UNDERSTANDING BY CHINA THAT THE ECONOMIC SYSTEM DOES NOT AND CANNOT FUNCTION INDEPENDENTLY OF THE POLITICAL SYSTEM.

+HONG KONG COULD NOT BE THE ECONOMIC SUCCESS IT IS TODAY. THE SKILLS OF ITS ENTREPRENEURS AND THE DILIGENCE OF ITS WORKFORCE NOTWITHSTANDING, IF IT WERE NOT A FREE SOCIETY - COMMITTED TO THE FREE ENTERPRISE SYSTEM OPERATING WITHIN AN INTERNATIONALLY ACCEPTED AND IMPARTIALLY ADMINISTERED SYSTEM OF LAW - A SYSTEM OF LAW WHICH ALSO ENSHRINES OUR INDIVIDUAL FREEDOMS, HE SAID.

/MR SCOTT

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