XN000022-1987-05-13 — Page 3

WEDNESDAY, MAY 13, 1987

EVERY REASON TO FACE FUTURE WITH MORE CONFIDENCE

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HONG KONG HAS EVERY REASON TO FACE ITS FUTURE WITH A GOOD DEAL MORE CONFIDENCE THAN MANY OTHER PLACES, THE CHIEF SECRETARY, THE HON DAVID FORD, SAID TODAY (WEDNESDAY), REPLYING TO A QUESTION FROM THE HON LEE YU-TAI, IN THE LEGISLATIVE COUNCIL.

HE SUPPORTED HIS OPTIMISTIC OUTLOOK WITH A LIST OF ECONOMIC AND SOCIAL INDICATORS, AS WELL AS OPINION POLLS CARRIED OUT BY INDEPENDENT RESEARCH COMPANIES.

MR FORD LISTED THE FOLLOWING ECONOMIC INDICATORS WHICH HE SAID SHOWED +AN ENCOURAGING TREND+:

* INVESTMENT IN PLANT AND MACHINERY INCREASED 8 PER CENT IN

REAL TERMS IN 1986:

* RETAINED IMPORTS OF INDUSTRIAL MACHINERY INCREASED BY

26 PER CENT LAST YEAR;

* THE PROPERTY MARKET HAS SETTLED DOWN IN 1986 I

*

THE 13 000 HOME OWNERSHIP FLATS PUT ON THE MARKET LAST YEAR WERE OVER-SUBSCRIBED BY NO LESS THAN 18 TIMES ;

* THE VALUE OF AGREEMENTS FOR SALE AND THE PURCHASE OF

PROPERTY INCREASED BY 32 PER CENT LAST YEAR;

* LARGE SUMS OF MONEY BEING SENT ON LONG-TERM INFRASTRUCTURAL

PROJECTS; AND

*

THE PRIVATE VENTURE CAPITAL INVOLVED IN THE SECOND CROSS HARBOUR TUNNEL, IN CONTAINER TERMINALS AND IN PROPERTY ALSO INDICATE A HIGH LEVEL OF CONFIDENCE.

ON OPINION POLLS, MR FORD SAID THE WORLDWIDE GALLUP POLL TAKEN AT THE END OF 1986 TO GAUGE PEOPLE'S VIEWS ABOUT THEIR FUTURE IN 31 COUNTRIES FOUND THAT THE PEOPLE OF HONG KONG WERE THE MOST CONFIDENT ABOUT THEIR PROSPECTS FOR 1987.

HE ALSO SAID THE LATEST SRH SURVEY SHOWED THAT 73 PER CENT OF THE POPULATION IN HONG KONG WERE CONFIDENT ABOUT THE FUTURE.

+HOW MANY COUNTRIES IN THE WORLD, I WONDER, COULD MAKE SIMILAR CLAIMS?+ HE ASKED.

MR FORD ALSO SAID HONG KONG HAD A TRADITION OF EMIGRATION DATING BACK OVER 30 YEARS AND FREEDOM OF MOVEMENT AND TRAVEL WERE FUNDAMENTAL RIGHTS OF THE HONG KONG PEOPLE.

WHILE THERE