XN000022-1989-08-01 — Page 6

TUESDAY, AUGUST 1, 1989

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MR HALL WELCOMED THE CHAIRMAN'S SUPPORT FOR THE PROPOSED FIXED PENALTY SYSTEM.

MR HALL NOTED THE DIFFICULTIES FACED BY MEMBERS OF THE ASSOCIATION IN OBTAINING QUALIFIED PERSONNEL TO MAN THEIR VESSELS.

WITH THE CO-OPERATION OF THE ASSOCIATION, MARINE DEPARTMENT OFFICERS WERE CONDUCTING ON-BOARD ASSESSMENTS UNDER OPERATIONAL CONDITIONS WITH A VIEW TO REVIEWING THE MANNING REQUIREMENTS FOR SOME CLASSES OF VESSELS. MR HALL NOTED THAT A SIMILAR EXERCISE WAS BEING CARRIED OUT ON GOVERNMENT BOATS,

DUE CONSIDERATION WOULD ALSO BE GIVEN TO THE CHAIRMAN'S SUGGESTION THAT PERSONS HOLDING CERTIFICATES OF COMPETENCY FOR FISHING VESSELS COULD BE ALLOWED TO WORK ON MOTOR BOATS, HE SAID.

MONETARY STATISTICS FOR JUNE PUBLISHED

ACCORDING ΤΟ STATISTICS PUBLISHED TODAY (TUESDAY) BY THE MONETARY AFFAIRS BRANCH, BOTH HONG KONG DOLLAR AND FOREIGN CURRENCY DEPOSITS WITH AUTHORISED INSTITUTIONS FELL IN JUNE COMPARED WITH MAY.

HONG KONG DOLLAR MONEY SUPPLY ON VARIOUS DEFINITIONS SHOWED DIFFERENT PERFORMANCE. HK$M1 RECORDED A DECREASE IN JUNE, WHILE HK$M2 ROSE MODERATELY AND HK$M3 SHOWED LITTLE CHANGE.

TOTAL LOANS AND ADVANCES EXTENDED BY AUTHORISED INSTITUTIONS INCREASED IN JUNE, FOLLOWING TWO CONSECUTIVE MONTHLY DECLINES. WITH THE EXCEPTION OF LOANS TO FINANCE MERCHANDISING TRADE NOT TOUCHING HONG KONG, ALL MAJOR CATEGORIES OF LOANS GREW DURING THE MONTH.

THAT

AN ANALYSIS OF LOANS FOR USE IN HONG KONG BY SECTOR INDICATES LOANS TO ALL THE MAJOR INDUSTRIAL SECTORS, INCLUDING MANUFACTURING; BUILDING, CONSTRUCTION AND PROPERTY DEVELOPMENT; WHOLESALE AND RETAIL TRADE, ETC. GREW LESS RAPIDLY IN THE SECOND QUARTER THAN IN THE FIRST QUARTER.

TABLE 1 SETS OUT SUMMARY FIGURES FOR JUNE 1989 AND COMPARISONS WITH EARLIER MONTHS. TABLE 2 PRESENTS FIGURES FROM THE QUARTERLY ANALYSIS OF LOANS AND ADVANCES FOR USE IN HONG KONG.

DEPOSITS

HONG KONG DOLLAR DEPOSITS WITH AUTHORISED INSTITUTIONS FELL MODERATELY BY 0.4 PER CENT IN JUNE, FOLLOWING INCREASES OF 1.9 PER CENT AND 1.0 PER CENT IN APRIL AND MAY RESPECTIVELY. OF THESE DEPOSITS, SAVINGS DEPOSITS ROSE BY 5.8 PER CENT WHILE DEMAND AND TIME DEPOSITS FELL BY 1.2 PER CENT AND 2.8 PER CENT RESPECTIVELY. DURING THE 12 MONTHS ENDING JUNE 1989, TOTAL HONG KONG DOLLAR DEPOSITS GREW BY 15.3 PER CENT.

/FOREIGN CURRENCY