FRIDAY, MARCH 31, 1989
9
AUSTRALIAN BANK GRANTED LICENCE
BANKING LICENCE SPOKESMAN SAID TODAY
THE STATE BANK OF VICTORIA HAS BEEN GRANTED A TO CONDUCT BUSINESS IN HONG KONG, A GOVERNMENT (FRIDAY).
VICTORIA OF
LARGEST
BANK IN AND A REGISTERED
IS THE STATE BANK
THE FIFTH AUSTRALIA, IT HAS OPERATED A REPRESENTATIVE OFFICE DEPOSIT-TAKING COMPANY IN HONG KONG SINCE MARCH 1987.
THE SPOKESMAN SAID AUSTRALIA RANKED PRINCIPAL TRADING PARTNERS IN 1987.
BENEFICIAL FOR
TENTH AMONG HONG KONG'S
AUSTRALIA
"IT WOULD BE REPRESENTATION IN THE HONG KONG BANKING SECTOR, GIVEN OF THE TRADING LINK BETWEEN THE TWO PLACES," HE SAID.
HE ADDED THAT THE
TO
HAVE
APPROPRIATE THE IMPORTANCE
CONTINUING REFLECTED
OF INTEREST
FOREIGN RONG KONG'S ROLE AS A
BANKS
IN
MAJOR
ENTERING THE LOCAL MARKET INTERNATIONAL FINANCIAL CENTRE.
THE
GRANTING
OF
THE
LICENCE
127 ARE
BRINGS
TOTAL
NUMBER
OF
THE LICENSED BANKS TO 162, OF WHICH
INCORPORATED OUTSIDE HONG KONG. THIS IS THE SECOND BANKING LICENCE GRANTED THIS YEAR.
+
INCREASES IN SOCIAL SECURITY PAYMENTS
*
AGE PUBLIC ASSISTANCE (PA) AND OLD
ALLOWANCE (OAA) PAYMENTS
PER CENT
(APRIL WILL BE INCREASED BY 11
STARTING TOMORROW
1), A SPOKESMAN FOR THE SOCIAL WELFARE DEPARTMENT SAID TODAY (FRIDAY).
DETAILS OF THE NEW PA PAYMENT RATES ARE AS FOLLOWS:
BASIC SCALE RATES PER MONTH
FAMILY SIZE
SINGLE PERSON
CURRENT SCALE ($1
NEW SCALE ($)
560
620
FAMILY:
1ST ELIGIBLE MEMBER
420
465
2ND ELIGIBLE MEMBER
420
465
3RD ELIGIBLE MEMBER
110
455
4TH ELIGIBLE MEMBER
410
455
/5TH AND
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