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WEDNESDAY, SEPTEMBER 30, 1987
NEW LEGCO MEMBER APPOINTED
THE
A GOVERNMENT SPOKESMAN TODAY (WEDNESDAY) ANNOUNCED THAT GOVERNOR HAS APPOINTED MR EDWARD HO SING-TIN TO BE A MEMBER OF THE LEGISLATIVE COUNCIL WITH EFFECT FROM OCTOBER 1.
MR HO REPLACES MR S.L. CHEN WHO RETIRED FROM THE COUNCIL AT THE END OF THE LAST SESSION.
IS AN
MR HO IS AGED 48 AND IS MARRIED WITH THREE CHILDREN. HE ARCHITECT BY PROFESSION AND IS A MEMBER OF THE HOUSING AUTHORITY, THE TOWN PLANNING BOARD AND THE LAND AND BUILDING ADVISORY COMMITTEE.
THE APPOINTMENT WILL EXPIRE ON AUGUST 31, 1988.
AUGUST MONETARY STATISTICS RELEASED
GROWTH IN HONG KONG DOLLAR DEPOSITS
ACCORDING COMPARED WITH THE PREVIOUS MONTH,
AFFAIRS TODAY (WEDNESDAY) BY THE MONETARY DEPOSITS ALSO GREW SLOWER IN AUGUST THAN IN JULY.
SLOWED DOWN IN AUGUST TO STATISTICS PUBLISHED BRANCH. FOREIGN CURRENCY
DEFINITIONS TOTAL MONEY SUPPLY ON ALL
CONTINUED TO AUGUST. BUT THE BROADEST DEFINITION OF HONG KONG DOLLAR MONEY
THAN IN THE HK$M3, EXPERIENCED A SLOWER GROWTH IN AUGUST MONTH.
GROW
SUPPLY, PREVIOUS
IN
TOTAL LOANS AND ADVANCES EXTENDED BY DEPOSIT-TAKING THE RATE INSTITUTIONS CONTINUED TO GROW STRONGLY IN AUGUST, ALTHOUGH OF GROWTH WAS SLIGHTLY LOWER THAN THOSE IN JUNE AND JULY.
INCREASE
IN USE IN
MUCH OF THIS GROWTH CAME FROM A CONTINUED RAPID LOANS FOR USE OUTSIDE HONG KONG. ON THE OTHER HAND, LOANS FOR HONG KONG RECORDED A SLOWING DOWN IN ITS GROWTH RATE DURING THE MONTH, WHILE LOANS TO FINANCE HONG KONG'S VISIBLE TRADE FELL SLIGHTLY.
DEPOSITS
DECREASED IN AUGUST, HONG KONG DOLLAR DEMAND DEPOSITS
BY 2.1 TIME CENT.
DEPOSITS PER CENT WHILE SAVINGS DEPOSITS GREW BY 1.9 PER INCREASED BY 2.8 PER CENT AFTER THE RAPID INCREASE OF SIX PER CENT JULY.
IN
JUNE
BY 1.8 PER AND 2.6 PER
AUGUST),
ENDING
AS A RESULT, TOTAL HONG KONG DOLLAR DEPOSITS ROSE CENT IN AUGUST AFTER INCREASES OF 2.4 PER CENT IN
MONTHS CENT IN JULY. OVER THE YEAR (I.E. FOR THE 12 TOTAL HONG KONG DOLLAR DEPOSITS GREW BY 24.8 PER CENT.
/FOREIGN CURRENCY
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