XN000022-1989-05-01 — Page 2

MONDAY, MAY 1, 1989

HONG KONG TO PERSIST WITH BOAT PEOPLE PROBLEM: GOVERNOR

HONG KONG MUST CONTINUE TO PERSIST WITH BOTH THE PRACTICAL AND THE POLITICAL ASPECTS OF THE VIETNAMESE BOAT PEOPLE PROBLEM UNTIL A SOLUTION IS FOUND, THE GOVERNOR, SIR DAVID WILSON, SAID THIS EVENING (MONDAY 1.

SIR DAVID SAID THE PRACTICAL PROBLEMS MEANT FINDING ARRANGEMENTS TO LOOK AFTER THE BOAT PEOPLE WHILST THE POLITICAL PROBLEMS MEANT FINDING A LONG-TERM SOLUTION.

SPEAKING TO REPORTERS AFTER ATTENDING A RECEPTION TO MARK THE 50TH ANNIVERSARY OF THE SING PAO NEWSPAPER, THE GOVERNOR SAID: "WHAT WE HAVE TO AIM AT IS DEALING FIRST WITH THE PRACTICAL PROBLEMS, BECAUSE WE FACE AN EMERGENCY AND DEALING WITH THAT; AND THEN DEALING WITH THE POLITICAL PROBLEMS WHICH IS TRYING TO MAKE SURE THAT THERE IS AN EFFECTIVE LONG-TERM SOLUTION.

"

PART OF THE LONG-TERM SOLUTION WAS THE WORK TO BE DONE AT THE GENEVA CONFERENCE ON THE PROBLEM COMING UP NEXT MONTH, SIR DAVID ADDED.

HE SAID THERE WAS NO INSTANT SOLUTION TO THE PROBLEM.

"WE SIMPLY HAVE TO GET ON WITH IT AS QUICKLY AS WE POSSIBLY CAN WITHOUT ANY IDEAS THAT THERE IS AN IMMEDIATE SOLUTION IN SIGHT.

"WE JUST HAVE TO WORK AT THE

LONG-TERM SOLUTION," SIR DAVID

SAID.

MONETARY STATISTICS FOR MARCH 1989

BY THE

ACCORDING ΤΟ STATISTICS PUBLISHED TODAY (MONDAY} MONETARY AFFAIRS BRANCH, BOTH HONG KONG DOLLAR AND FOREIGN CURRENCY DEPOSITS GREW MORE RAPIDLY IN MARCH THAN IN FEBRUARY.

THE BROADER DEFINITIONS OF MONEY SUPPLY, HK$M2 AND HKSM3, INCREASED IN MARCH COMPARED WITH FEBRUARY, WHILE THE NARROWEST DEFINITION, HKSM1, REGISTERED A FALL DURING THE MONTH.

TOTAL LOANS AND ADVANCES EXTENDED BY SHOWED CONSIDERABLE INCREASE DURING MARCH.

AUTHORISED

INSTITUTIONS

/OFFSHORE LOANS