XN000022-1986-07-18 — Page 5

FRIDAY, JULY 18, 1986

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+ IN SHORT THE ESSENTIAL FEATURES OF LIFE IN HONG KONG WILL REMAIN UNCHANGED, AS WILL THE FREE MARKET ENVIRONMENT WHICH HAS LED TO HONG KONG'S GROWTH AS A TRADING POWER AND AN INTERNATIONAL FINANCIAL CENTRE, SIR EDWARD SAID.

ONE ELEMENT IN THE CONTINUING EFFORT TO ENSURE THAT HONG KONG WOULD REMAIN A LEADING PARTICIPANT IN WORLD TRADE WAS THE AGREEMENT THAT HONG KONG SHOULD NOW BECOME A SEPARATE CONTRACTING PARTY TO THE GENERAL AGREEMENT ON TARIFFS AND TRADE AND SHOULD REMAIN SO AFTER 1997.

IN CONCLUSION, SIR EDWARD SAID THAT HE HOPED HONG KONG'S PARTICIPATION IN EXPO '86 WOULD BE SEEN AS A SIGN OF CONFIDENCE AND AS A SYMBOL OF A CITY WHICH COMBINED THE MODERN AND THE TRADITIONAL.

+OUR PARTICIPATION SYMBOLISES ALSO THE DYNAMIC ROLE WHICH WE THINK THAT HONG KONG CAN PLAY IN THE DEVELOPMENT OF THE AS IA-PACIFIC REGION, HE ADDED.

NOTE TO EDITORS:

TEXT OF THE GOVERNOR'S ADDRESS IN VANCOUVER WILL BE MADE AVAILABLE LATER.

GROWTH SEEN IN CAPITAL WORKS EXPENDITURE

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EXPENDITURE ON BUILDING AND CONSTRUCTION BY BOTH THE PUBLIC AND PRIVATE SECTORS WILL INCREASE THIS YEAR, THE SECRETARY FOR LANDS AND WORKS, MR NICKY CHAN, SAID THIS (FRIDAY) EVENING.

SPEAKING TO CONTRACTORS AND BUILDERS AT A DINNER TO CELEBRATE THE FESTIVAL OF THE PATRON SAINT OF BUILDERS LU PAN, MR CHAN SAID EXPENDITURE IN THE PUBLIC SECTOR, INCLUDING THE MTRC AND KCRC, WAS ESTIMATED TO INCREASE BY THREE PER CENT COMPARED WITH A DECLINE IN 1985.

HE NOTED THAT IN THE PRIVATE SECTOR GROWTH WAS TO BE SIX PER CENT THIS YEAR COMPARED WITH A DECREASE OF ONE PER CENT THE YEAR BEFORE.

MR CHAN SAID TOTAL FLOOR AREA OF BUILDING PLANS, FOR WHICH CONSENT TO START WORK WAS GIVEN, INCREASED BY 15 PER CENT IN 1985.

/EMPHASISING