XN000022-1987-11-24 — Page 4

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TUESDAY, NOVEMBER 24, 1987

MR TSAO SAID THIS POLICY HAD BEEN SUCCESSFUL AS EVIDENCED BY ESTIMATES THAT THE ILLEGAL BOOKMAKING ANNUAL TURNOVER HAD FALLEN FROM $2,500-$3,000 MILLION IN 1973 TO SOME $600 MILLION TODAY.

ON THE ESTABLISHMENT OF NEW OFF-COURSE BETTING CENTRES, MR TSAO SAID THAT WHILE THE GOVERNMENT HAD PLACED AN OVERALL LIMIT TO

OF SUCH THE NUMBER

CENTRES, THE

OF DEVELOPMENT

NEW CENTRES OF RELOCATION POPULATION MEANT THAT THERE WAS A DEMAND FOR THE

AND THE OPENING OF NEW CENTRES TO MEET THE NEEDS OF THE SHIFTING POPULATION.

"FAILURE TO MEET THESE NEEDS WILL WITHOUT DOUBT STIMULATE ILLEGAL BOOKMAKING, THE SOCIAL CONSEQUENCES OF WHICH ARE IMMEASURABLY WORSE THAN THE PROVISION OF LEGAL OUTLETS.

"THIS REGRETTABLY IS NOT ALWAYS APPRECIATED BY THOSE WHO IS OBJECT WHENEVER A PROPOSAL TO OPEN A NEW CENTRE IN THEIR VICINITY MADE. NEVERTHELESS THE VIEWS OF LOCAL RESIDENTS ARE AND WILL CONTINUE TO BE CAREFULLY MONITORED," HE SAID.

SAID ONE

MR TSAO

QUESTION OFTEN ASKED WAS THAT WHY THE GOVERNMENT DID NOT PERMIT CASINO-TYPE GAMBLING IN HONG KONG.

IЯ 'ENOUGH

"SOME SAY YES, SOME NO. THE BEST ANSWER I CAN GIVE IS PERHAPS ENOUGH' BUT THE QUESTION MUST BE LEFT TANTALISINGLY UNANSWERED FOR THE TIME BEING," HE SAID.

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0

PROVISIONAL TRADE FIGURES FOR OCTOBER RELEASED

HONG KONG'S EXTERNAL TRADE CONTINUED TO SURGE IN OCTOBER THOUGH AT A SLOWER RATE THAN IN SEPTEMBER.

ACCORDING TO THE

CENSUS

1987.

PROVISIONAL TRADE FIGURES PUBLISHED TODAY (TUESDAY) BY THE

AND STATISTICS DEPARTMENT, THE VALUE OF DOMESTIC EXPORTS IN OCTOBER 1987 WAS $18,188 MILLION, 18.4 PER CENT IN OCTOBER

WHILE 1986, OR $2,829 MILLION HIGHER THAN RE-EXPORTS INCREASED BY 39.0 PER CENT OR $4,790 MILLION.

THE VALUE

ΤΟ MILLION

OF $17,082

THE VALUE OF TOTAL EXPORTS (DOMESTIC EXPORTS PLUS RE-EXPORTS)

MILLION HIGHER THAN AT $35,270 MILLION, WAS 27.6 PER CENT OR $7,619 IN OCTOBER 1986.

VALUE OF IMPORTS GREW BY 24.0 PER CENT THE OVER OCTOBER 1986 TO $34,714 MILLION.

OR

$6,709

MILLION

/AS THE