XN000022-1989-03-07 — Page 6

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TUESDAY, MARCH 7, 1989

CONSTRUCTION WORK FOR THE NEW TOWN RESIDENTS STARTED MOVING IN EARLY LAST YEAR. STANDS AT 33,000.

AND

STARTED IN 1982 THE CURRENT POPULATION

COMMUNITY FACILITIES NOW AVAILABLE INCLUDE FOUR PRIMARY SCHOOLS, TWO SECONDARY SCHOOLS, A COMMUNITY CENTRE, AN RECREATION CENTRE, AND A SUB-DIVISIONAL FIRE STATION AND AMBULANCE

DEPOT.

INDOOR

A

ON THE WORKS PROGRAMME THIS YEAR ARE TWO MORE PRIMARY SCHOOLS, AN INDOOR RECREATION CENTRE, A CLINIC AS WELL AS A POLICE STATION, NEIGHBOURHOOD COMMUNITY CENTRE AND A HOST OF OTHER FACILITIES AS JUNK BAY DEVELOPS.

LATER

LATER, SIR DAVID WENT TO THE ROOF OF A BLOCK AT YING MING COURT ADJOINING PO LAM ESTATE WHERE HE HAD A PANORAMIC VIEW OF JUNK BAY AND WAS BRIEFED BY STAFF OF THE HOUSING DEPARTMENT ON PUBLIC HOUSING PROJECTS.

LAM

HE WAS TOLD THAT PHASES ONE AND TWO OF PO LAM ESTATE, TSUI ESTATE AND THE HOME OWNERSHIP SCHEME KING MING COURT HAVE BEEN COMPLETED AND ARE TAKING IN RESIDENTS.

OTHER PROJECTS IN PROGRESS INCLUDE THE REMAINING PHASES OF PO LAM ESTATE, KING LAM ESTATE, THE HOME OWNERSHIP SCHEME YING MING COURT AND YAN MING COURT, AND TWO PRIVATE SECTOR PARTICIPATION SCHEMES.

SIR DAVID ALSO SAW THE SITE OF THE UNIVERSITY OF SCIENCE AND TECHNOLOGY, NOW UNDER CONSTRUCTION, AND THE EASTERN PORTAL OF THE JUNK BAY ROAD TUNNEL BEFORE HE ENDED HIS VISIT.

PROPER REGULATION OF INSURANCE INDUSTRY EMPHASISED

*

OF

THE GOVERNMENT LAYS GREAT EMPHASIS ON THE PROPER REGULATION THE INSURANCE INDUSTRY IN HONG KONG, THE SECRETARY OF MONETARY AFFAIRS, MR DAVID NENDICK, SAID THIS (TUESDAY) MORNING.

HE WAS SPEAKING AT THE OPENING OF

"

INSURANCE 90'S'

"

+

MR NENDICK SAID THE GOVERNMENT ACCEPTED A RESPONSIBILITY ΤΟ ENSURE THE INTEGRITY OF THE MARKET AND TO PROVIDE ADEQUATE PROTECTION TO EXISTING AND FUTURE POLICYHOLDERS, GIVEN THE ECONOMIC INSURANCE, THE SIZE OF IMPORTANCE TO HONG KONG AS

THE INSURANCE INDUSTRY

A FINANCIAL CENTRE,

MR NENDICK SAID A FRAMEWORK OF PRUDENTIAL

FUNCTION OF AND ITS GROWING

SUPERVISION WAS

IN

ENSHRINED IN THE INSURANCE COMPANIES ORDINANCE WHICH WAS ENACTED 1983.

"THE ORDINANCE