XN000022-1986-11-04 — Page 3

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TUESDAY, NOVEMBER 4, 1986

+THROUGH THE EFFORTS OF THE STAFF AND THE MANAGEMENT, THE COLLEGE HAS EARNED THE RESPECT AND RECOGNITION OF THE PEOPLE OF HONG KONG AND A WIDER COMMUNITY THROUGHOUT THE WORLD, HE SAID.

SIR DAVID RECALLED THAT THE COLLEGE BEGAN IN SEPTEMBER 1956 BY OFFERING POST-SECONDARY DIPLOMA COURSES TO ABOUT 150 STUDENTS IN A TEMPORARY CAMPUS AT PUI CHING MIDDLE SCHOOL.

+NOW THE COLLEGE HAS OVER 2 000 STUDENTS AMONG WHOM 210 ARE FOLLOWING DEGREE PROGRAMMES, INTRODUCED THIS YEAR, HE SAID.

SIR DAVID WENT ON: +THERE IS NO DOUBT THE YEARS AHEAD ARE YEARS OF CHALLENGE AND THE GREATEST CHALLENGE OF ALL IS TO OUR ECONOMY FOR WITHOUT AN EXPANDING ECONOMY WE SHALL NOT BE ABLE TO AFFORD THE EXTRA COST OF IMPROVED SOCIAL, MEDICAL AND EDUCATIONAL SERVICES AND THE ROADS, TUNNELS AND RAILWAYS WE SHALL NEED IN THE NINETIES.

+ INVESTMENT IN EDUCATION AND TRAINING OF ALL KINDS IS WHERE THIS EXPANDING ECONOMY MUST START.

+WE MUST HAVE THE RIGHT EDUCATION AN INTERNATIONAL EDUCATION: AND AN EDUCATION IN THE SKILLS AND KNOWLEDGE NEEDED TO SERVE THE ECONOMY.+

THE EXHIBITION HAS BEEN STAGED TO MARK THE COLLEGE'S 30TH BIRTHDAY.

MONETARY STATISTICS FOR SEPTEMBER RELEASED

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BOTH HONG KONG DOLLAR AND FOREIGN CURRENCY DEPOSITS GREW IN SEPTEMBER, ACCORDING TO STATISTICS PUBLISHED BY THE MONETARY AFFAIRS BRANCH TODAY. THE GROWTH RATE OF HONG KONG DOLLAR DEPOSITS (INCLUDING SWAP DEPOSITS) WAS ROUGHLY THE SAME AS THAT FOR FOREIGN CURRENCY DEPOSITS.

HONG KONG DOLLAR M1 (THE NARROWEST DEFINITION OF MONEY SUPPLY) INCREASED MARGINALLY, AFTER A RAPID INCREASE IN THE PREVIOUS MONTH. HONG KONG DOLLAR M2 AND M3 CONTINUED TO RECORD STEADY GROWTH.

GROWTH IN TOTAL LOANS AND ADVANCES PICKED UP IN SEPTEMBER. LOANS TO FINANCE HONG KONG'S TRADE INCREASED AFTER THE FALL IN AUGUST. OTHER LOANS FOR USE IN HONG KONG ALSO REGISTERED A HIGHER GROWTH RATE THAN THE PREVIOUS MONTHS.

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