XN000022-1989-09-13 — Page 2

WEDNESDAY, SEPTEMBER 13, 1989

GOVERNOR VISITS STOCK EXCHANGE

THE

OF THE

THE GOVERNOR, SIR DAVID WILSON, TODAY (WEDNESDAY) VISITED STOCK EXCHANGE OF HONG KONG TO OBSERVE FIRST-HAND OPERATIONS STOCK MARKET.

AND

SIR DAVID, WHO WAS MET BY THE CHAIRMAN OF THE EXCHANGE COUNCIL. SIR Q.W. LEE, HAD A SHORT DISCUSSION WITH MEMBERS OF THE COUNCIL WAS BRIEFED ON THE LATEST DEVELOPMENTS OF THE EXCHANGE.

"THE

EXCHANGE

SHOULD BE

CONGRATULATED

SUCCESSFUL STRUCTURE

SELF-

ON ITS CONSTITUTIONAL REFORMS AND STRENGTHENING OF THE MANAGEMENT WITH THE OBJECTIVE OF FULLY ESTABLISHING ITSELF AS AN EFFECTIVE REGULATORY ORGANISATION," SIR DAVID SAID.

I

BY

NOTING THAT

"I AM IMPRESSED BY THE SUBSTANTIAL CONTRIBUTIONS BEING MADE

PRE-EMINENT REGIONAL THE EXCHANGE TOWARDS OUR DEVELOPMENT INTO THE CAPITAL

THE GOVERNOR ADDED, MARKET IN SOUTH EAST ASIA, THIS WAS THE PRIMARY OBJECTIVE SET OUT FOR HONG KONG BY THE SECURITIES REVIEW COMMITTEE IN ITS REPORT.

UNDER THE

WITH

ACCORANCE

NEW

INTRODUCED CONSTITUTION,

SECURITIES

IN

LAST OCTOBER THE SPIRIT OF THE

REVIEW COMMITTEE RECOMMENDATIONS, THE EXCHANGE IS GOVERNED BY A BROADLY-BASED COUNCIL REPRESENTATIVE OF BOTH INDIVIDUAL AND CORPORATE EXCHANGE WELL AS PUBLIC INTERESTS.

MEMBERS AS

THE GOVERNOR SPOKE WITH PROFESSIONAL STAFF OF THE EXCHANGE, WHO IN HAD DEMONSTRATED THEIR RISK MANAGEMENT AND SURVEILLANCE ABILITIES RECENT MARKET EVENTS.

SERIES OF

SIR DAVID WAS TOLD THAT THE EXCHANGE HAD BEEN

AND OPERATIONAL REFORMS SELF-REGULATORY LISTING AND

CLEARING TO BRING ITSELF UP CENTRAL REQUIRED OF MAJOR INTERNATIONAL STOCK EXCHANGES.

TO

FORMULATING A

AREAS IN

LIKE THE STANDARDS

BY THE "I AM ENCOURAGED BY THE VOLUNTARY EFFORTS BRING MADE

MAINTAIN AN EXCHANGE IN IMPLEMENTING THESE REFORMS. THEY WILL HELP EFFICIENT, FAIR AND ORDERLY SECURITIES MARKET IN HONG KONG SO THAT COMMUNITY," CAN CONTINUE TO ATTRACT THE INTERNATIONAL INVESTING SAID.

WE

HE

THE HOW

STOCK

THE

TOURED THE TRADING FLOOR TO SEE GOVERNOR MARKET OPERATED AND ALSO VISITED A NUMBER OF TRADING BOOTHS.

GOVERNOR SAID THE SPEAKING TO REPORTERS AFTER HIS VISIT, THE

OF STOCK EXCHANGE WAS AN IMPORTANT PART OF THE FINANCIAL INSTITUTIONS

AND WORK HONG KONG WHICH HELP FIND CAPITAL FOR THE TERRITORY LOCALLY TO MAINTAIN HONG KONG AS AN INTERNATIONAL FINANCIAL CENTRE.

REGULAR

SIR DAVID SAID THE

то SEE VISITS

INSTITUTIONS.

TOUR OF THE EXCHANGE WAS

IMPORTANT DIFFERENT

PART OF HIS ORGANISATIONS

AND

/ASKED IF

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