XN000022-1988-11-16 — Page 59

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WEDNESDAY, NOVEMBER 16, 1988

HE SAID.

"THIS SHOULD CONTRIBUTE GREATLY TO THE SAFETY IN THE

PORT,

H

SIR DAVID SAID THAT HONG KONG OFFERED A GREAT DEAL OF INTEREST TO THOSE INVOLVED IN THE SHIPPING BUSINESS.

"WE HAVE ONE OF THE WORLD'S FINEST NATURAL HARBOURS; A BOOMING DOMESTIC ECONOMY; AND A STRATEGIC POSITION AS THE GATEWAY ΤΟ CHINA AND THE ASIA PACIFIC REGION," HE SAID,

AND THE

SIR DAVID NOTED THAT WITH CHINA'S MODERNISATION CONSEQUENT EXPLOSION OF TWO-WAY TRADE, HONG KONG'S ROLE AS AN ENTREPOT FOR SOUTHERN CHINA HAD BECOME INCREASINGLY IMPORTANT.

A PHENOMENAL GROWTH IN RE-EXPORTS, VALUED AT $183 BILLION, WAS RECORDED LAST YEAR, REPRESENTING AN INCREASE OF ALMOST 50 PER CENT OVER THE PREVIOUS YEAR.

"MOST OF THIS RE-EXPORT TRADE

——

SOME 80 PER CENT OF IT

IS

TRADE TO OR FROM CHINA.

"THERE IS EVERY INDICATION TOO THAT THIS YEAR WILL SEE ANOTHER LARGE INCREASE," SIR DAVID SAID.

FUNDS APPROVED FOR NEW VR OPEN CENTRE

THE FINANCE COMMITTEE TODAY (WEDNESDAY) APPROVED FUNDS FOR THE CONSTRUCTION OF AN OPEN CENTRE FOR VIETNAMESE REFUGEES AT PILLAR POINT, TUEN MUN.

THE FUNDS TOTALLING $79.15 MILLION ARE FOR THE CAPITAL COSTS FOR THE CONSTRUCTION OF PHASE I OF THE CENTRE.

MEMBERS WERE TOLD OF THE NEED FOR THE PROJECT AND THAT THE NEW OPEN CENTRE WOULD BE MANAGED AND OPERATED BY THE UNHCR.

THEY NOTED THE UNHCR'S COMMITMENT TO TAKE FULL RESPONSIBILITY FOR THE MANAGEMENT OF THE NEW OPEN CENTRE, AND ITS INTENTION TO LAUNCH AN INTERNATIONAL APPEAL IN EARLY 1989 FOR CONTRIBUTIONS TOWARD THE CAPITAL COSTS OF THE PROJECT.

ALTHOUGH THERE ARE TWO PLATFORMS ON THE SITE FOR THE OPEN CENTRE, ONLY THE LOWER

FOR IMMEDIATE

PLATFORM

IS

AVAILABLE

DEVELOPMENT.

ነ

/IT IS