XN000022-1987-11-20 — Page 2

FRIDAY, NOVEMBER 20, 1987

GOVERNOR EMPHASISES IMPORTANCE OF PRIVATE AID EFFORTS

THE GOVERNOR, SIR DAVID WILSON, TODAY (FRIDAY) STRESSED THE IMPORTANCE OF PRIVATE EFFORT IN HELPING HANDICAPPED CHILDREN IN HONG KONG.

HE WAS SPEAKING TO REPORTERS AFTER OFFICIATING AT THE START A WALK IN SAI KUNG TO RAISE FUNDS FOR CHILDREN.

SAID.

OF

THERE WAS ALWAYS SOMETHING MORE THAT COULD BE DONE, BIR DAVID

GOVERNMENT IS TRYING TO DO MORE. BUT IN A SOCIETY LIKE HONG KONG, WHAT THE PUBLIC DOES, WHAT PRIVATE EFFORT DOES IS AT LEAST AS IMPORTANT AS WHAT THE GOVERNMENT CAN DO," HE NOTED.

THE GOVERNOR SAID HE WAS PLEASED TO BE AT THE START OF THE WALK WHICH WAS BOTH EXCITING FOR THOSE PEOPLE TAKING PART AND A GREAT BFFORT IN FUND-RAISING.

HE SAID, "HOW GOOD IT IS THAT WE HAVE THIS FUND-RAISING CAMPAIGN FOR SOME OF THE PEOPLE IN OUR SOCIETY WHO ARE LESS WELL OFF IN VARIOUS WAYS, WHETHER IT IS PHYSICALLY OR ANY OTHER WAY.

WHO WILL BEGINNING OF THE

**AND HOW VERY GOOD IT IS TO SEE SOME OF THE PEOPLE, BENEFIT FROM THIS FUND-RAISING, TAKING PART IN THE WALK TODAY."

THE TRAILWALKER '87 IS JOINTLY ORGANISED BY OXFAM, QUEEN'S GURKHA SIGNALS AND SPONSORED BY HONGKONG BANK. MORE THAN 700 PEOPLE TOOK PART IN THE WALK AND RAISED $800,000 TO HELP CHILDREN IN HONG KONG, INDIA AND NEPAL.

STOCK MARKET WILL REMAIN IMPORTANT ELEMENT

THE STOCK MARKET WILL CONTINUE TO BE ONE OF THE MOST IMPORTANT ELEMENTS IN THE FINANCIAL STRUCTURE OF HONG KONG, AND ONE OF THE MOST IMPORTANT TASKS OF THE SECURITIES REVIEW COMMITTER WILL BE TO CONSIDER HOW BEST THIS MARKET CAN ASSURE ITS INTERNATIONAL REPUTATION AND STANDING, THE ACTING FINANCIAL SECRETARY, MR DAVID NENDICK, SAID TODAY (FRIDAY).

IN A SPEECH ENTITLED "A SURVEY OF FINANCIAL MARKETS IN HONG KONG", GIVEN TO THE HONG KONG SOCIETY OF ACCOUNTANTS, MR NENDICK COMMENTED ON RECENT PROBLEMS IN THE STOCK AND FUTURES MARKETS, AND SAID IT WAS TRUE, THOUGH SADLY, THAT IMPROVEMENTS TO FINANCIAL MARKETS AND REGULATION ONLY CAME ABOUT AFTER MAJOR SHOCKS OR SETBACKS.

/HE SAID