XN000022-1988-10-12 — Page 23

11

WEDNESDAY, OCTOBER 12, 1988

CHAIRMANSHIP OF LEGISLATIVE COUNCILLOR, PROFESSOR THE HON POON CHUNG-KWONG, TO SEEK OF USE ΤΟ HONG OUT AND DEVELOP NEW SCIENTIFIC IDEAS WHICH MIGHT BE KONG AND ADVISE THE GOVERNMENT HOW THESE MIGHT BEST BE APPLIED.

THE COMMITTEE WAS SET UP SIX MONTHS AGO UNDER THE

THE

COMMITTEE

HAD STARTED THAT WERE

GIVING

PRIORITY KONG'S THE

ITS

BY WORK ESSENTIAL IN ENHANCING HONG ATTENTION TO AREAS ECONOMIC EFFICIENCY AND COMPETITIVENESS INCLUDING, IN PARTICULAR, WIDER APPLICATION OF INFORMATION TECHNOLOGY.

GOOD USE OF TO ORGANISE PROGRAMMES, AND ΤΟ ENGAGE OF PARTICULAR VALUE TO

SIR DAVID SAID THE GOVERNMENT ALSO AIMED TO MAKE THE COMMITTEE'S EXPERTISE, FOR EXAMPLE BY ENCOURAGING IT EXHIBITIONS, CONFERENCES AND EDUCATIONAL LOCAL AND OVERSEAS EXPERTS TO WORK IN AREAS HONG KONG,

THE BACK-UP "WE ARE NOW WORKING OUT HOW TO GIVE THE COMMITTEE

OPERATE MORE EFFECTIVELY," THE FACILITIES IT NEEDS TO ENABLE IT TO GOVERNOR ADDED.

IIK MUST PRESERVE FINANCIAL CENTRE POSITION

* * * * *

AS HONG KONG

HAS

BECOME

A

LEADING IS

CENTRE IT MUST MAKE SURE THAT THERE

INTERNATIONAL

FINANCIAL

IN INTERNATIONAL CONFIDENCE

GOVERNOR, SIR THE INTEGRITY, AND THE EFFICIENCY, OF ITS MARKETS, THE DAVID WILSON, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

OF

FINANCIAL AND COMMERCIAL

BUT OVER-REGULATE.

WE

то WISH

REFERRING то THE REGULATION SECTORS, SIR DAVID SAID: "WE DO NOT MUST MAKE SURE THAT WE MEET INTERNATIONAL STANDARDS."

MAIN LESSONS

LEARNT

FROM LAST

OCTOBER'S

STOCK

WORLD,

ONE OF THE MARKET CRASH IN WHICH HONG KONG, LIKE OTHER MARKETS AROUND THE WAS SEVERELY AFFECTED, WAS THAT HONG KONG WAS PART OF A GLOBAL MARKET, AND THE FINANCIAL WORLD WAS INCREASINGLY INTEGRATED AND INTERNATIONAL.

"THIS CALLS FOR

MORE CO-ORDINATION

AND

STANDARDS OF REGULATION IN THE MAIN FINANCIAL CENTRES,

SAID AN

EXCELLENT

JOB

MORE

"

UNIFORMITY HE SAID.

OF

HAD

BEEN

DONE BY

THE SIR DAVID

CRASH SECURITIES REVIEW COMMITTEE THAT HE HAD APPOINTED FOLLOWING THE

THE STOCK AND OPERATION OF AND MANAGEMENT TO EXAMINE THE POWERS, FUTURES EXCHANGES AND OF THE VARIOUS REGULATORY BODIES.

/THE GOVERNMENT