XN000022-1988-02-03 — Page 3

I

2

WEDNESDAY, FEBRUARY 3, 1988

COULD

BE

IMPLEMENTED IN

AN ORDERLY OF THE OPINION THAT THERE THE PASSING SHOULD BE UNIFORM PRACTICE AMONG MEMBERS IN RELATION TO ON OF THE CHARGE TO CUSTOMERS, MR JACOBS CONTINUED.

IN ORDER THAT THE RULE MANNER, THE ASSOCIATION'S COMMITTEE WAS

THE

CERTAIN AMENDMENTS WERE CONSEQUENTLY MADE ON JANUARY 14 TO

WHICH EMPOWERED THE COMMITTEE TO RULES ON INTEREST RATĖS,

SPECIFY NEGATIVE INTEREST RATES PRACTICES TO BE ADOPTED BY BANKS SO THAT

KONG DOLLAR BALANCES MAINTAINED BY MIGHT BE IMPOSED ON LARGE HONG THEIR CUSTOMERS, IF THERE WAS A NEED TO DO SO.

WILL BE

"THE COMMITTEE HAS ALSO ANNOUNCED THAT BY MARCH 10 IT IN A POSITION TO IMPLEMENT NEGATIVE INTEREST RATES, AGAIN IF THERE A NEED TO DO 80," MR JACOBS SAID.

THE GOVERNMENT

"THUS, THE COMMITTEE WORKING CLOSELY WITH CREATED A USEFUL MECHANISM TO COUNTER SPECULATION ON A REVALUATION THE HONG KONG DOLLAR AGAINST THE U.S. DOLLAR.

19

HAS

OF

"IN EFFECT,

DEPENDING ON THE RATE TO BE

SPECIFIED,

IMPOSITION OF NEGATIVE INTEREST RATES WILL MAKE IT EXPENSIVE TO LARGE HONG KONG DOLLAR BALANCES,'

甲申

CHANGING RATIO IN FANLING/SHEUNG SHUI HOUSING

*

THE

HOLD

CHANGE FROM HOME OWNERSHIP TO ABOUT 58

THE HOUSING RATIO IN FANLING AND SHEUNG SHUI WILL THE PRESENT 70 PER CENT IN PUBLIC HOUSING (INCLUDING SCHEME FLATS) AND 30 PER CENT IN PRIVATE SECTOR HOUSING TO 42 PER CENT RESPECTIVELY ON FULL DEVELOPMENT OF THE NEW TOWN.

AS IT HAS BUT THE SHIFT IN BALANCE WILL TAKE PLACE GRADUALLY,

GRAHAM IN OTHER NEW TOWNS, THE SECRETARY FOR LANDS AND WORKS, THE HON

CHEUNG YAN-LUNG IN BARNES, SAID IN REPLY TO A QUESTION FROM THE HON THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

FOR

PRIVATE

IS

"A SUBSTANTIAL PROPORTION OF THE LAND ZONED DEVELOPMENT IN FANLING AND SHEUNG SHUI IS IN PRIVATE OWNERSHIP AND EXPECTED TO BE REDEVELOPED," MR BARNES SAID.

"TO ENCOURAGE REDEVELOPMENT OF COMMERCIAL/RESIDENTIAL USE, THE MAXIMUM RECENTLY INCREASED."

THE CENTRAL

PERMISSIBLE

AREAS ZONED FOR PLOT RATIO WAS

SHEUNG SHUI WAS ABOUT THE PRESENT POPULATION IN FANLING AND 120,000, WHICH WOULD BE DOUBLED ON FULL DEVELOPMENT OF THE NEW TOWN.

MR BARNES