XN000022-1987-05-19 — Page 5

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TUESDAY, MAY 19, 1987

TRADE DEVELOPMENT COUNCIL LUNCHEON AND FASHION SHOW

PRINCESS MARGARET WILL ATTEND A LUNCHEON AND FASHION SHOW BY THE TRADE DEVELOPMENT COUNCIL AT 12.30 PM AT THE MANDARIN HOTEL.

DUE TO SPACE LIMITATION, ONLY POOL COVERAGE WILL BE ARRANGED. STILL PHOTOGRAPHS WILL BE SUPPLIED BY GIS, AND THERE WILL BE SEPARATE POOL ARRANGEMENT FOR TELEVISIONS.

OCEAN PARK

HRH WILL ARRIVE AT 2.30 PM AND UNVEIL A PLAQUE FOR OCEAN PARK'S NEW AVIARY. SHE WILL ALSO VISIT THE ATOLL REEF,

THERE WILL BE TWO FIXED PRESS POSITIONS FOR COVERAGE OF THE AVIARY AND ATOLL REEF. THE SAME GROUP OF MEDIA REPRESENTATIVES WILL BE ABLE TO COVER BOTH POINTS IF THEY TRAVEL ON THE OFFICIAL PRESS COACH WHICH LEAVES C.G.O. CARPARK AT 1.15 PM.

DEPARTURE

HRH WILL LEAVE HONG KONG AT 11 PM BY FLIGHT CX201.

A FIXED PRESS POSITION WILL BE ARRANGED AT THE AIRPORT TERMINAL BUILDING. ACCREDITED MEDIA REPRESENTATIVES COVERING THE DEPARTURE SHOULD ASSEMBLE AT THE AIRPORT PRESS ROOM BY 10 PM.

STABLE EXCHANGE RATE KEY TO HK ECONOMIC GROWTH

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A STABLE EXCHANGE RATE HAS BEEN AN IMPORTANT FACTOR CONTRIBUTING TO THE IMPRESSIVE RECORD OF THE HONG KONG ECONOMY DURING THE 37 YEARS FROM 1939 TO 1972 WHEN HONG KONG DOLLAR YAS LINKED TO THE POUND STERLING AND SINCE 1983 WHEN HONG KONG BOLLAR WAS LINKED TO THE US DOLLAR.

FROAM, IM'78 1¿YE RECORDONE "DOGLARNA

ATEB

THIS WAS STATED TODAY (TUESDAY) BY THE DEPUTY SECRETARY FOR MONETART AFFAIRS, MR JOSEPH YAM, WHEN HE ADDRESSED THE CHINESE ASSOCIATION OF DEPOSIT-TAKING COMPANIES LIMITED AT A DINNER.

HE POINTED OUT THAT WHILE IT WAS A FACT THAT IN OCTOBER 1983 IT WAS BASICALLY ON POLITICAL REASONS THAT HONG KONG LINKED ITS DOLLAR TO US DOLLAR, HOWEVER, WITH HINDSIGHT, HE WAS CONVINCED THAT THE ECONOMIC JŪŠTIFICATIONS WERE BY THEMSELVES SOUND ENOUGH TO MERIT THE TAKING OF SUCH ACTION.

/ASSESSING THE