XN000022-1990-02-21 — Page 6

WEDNESDAY, FEBRUARY 21, 1990

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BOARD TO PROMOTE HK AS FINANCIAL CENTRE IMPRACTICABLE

THE FINANCIAL SECRETARY, THE HON SIR PIERS JACOBS, TOLD THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY) THAT IT WOULD NOT BE PRACTICABLE TO HAVE A SINGLE DEVELOPMENT BOARD TO REPRESENT ALL THE VARIED AND DISPARATE INTERESTS INVOLVED IN THE DEVELOPMENT OF HONG KONG AS A FINANCIAL CENTRE.

REPLYING TO A QUESTION FROM THE HON MARTIN BARROW, SIR PIERS SAID: "THE PRESENT ARRANGEMENTS THROUGH WHICH WE CONSULT AND SEEK ADVICE ARE WORKING WELL, AND WE HAVE ACHIEVED CONSIDERABLE SUCCESS

IN BUILDING HONG KONG AS A FINANCIAL CENTRE WITHOUT HAVING SUCH A DEVELOPMENT BOARD."

HE SAID IN ORDER то PROMOTE AND DEVELOP HONG KONG AS AN INTERNATIONAL FINANCIAL CENTRE, THE GOVERNMENT WOULD CONTINUE TO MAINTAIN AND IMPROVE THE ENVIRONMENT ESSENTIAL FOR THE HEALTHY EVOLUTION OF ITS MARKETS, AND FOR THE DEVELOPMENT OF THE RANGE OF FINANCIAL SERVICES NEEDED.

OF THE MANY FACTORS OR ASPECTS THAT WERE CITED AN EDUCATED POPULATION, AN ATTRACTIVE COMMUNICATIONS AND A SOUND REGULATORY FRAMEWORK.

RELEVANT, SIR PIERS TAX STRUCTURE, GOOD

GOVT AWARE OF ABANDONED USED CAR PROBLEM

THE GOVERNMENT IS AWARE OF THE GENERAL PROBLEM OF USED BEING ABANDONED IN THE NEW TERRITORIES, THE ACTING SECRETARY PLANNING, ENVIRONMENT AND LANDS, THE HON CLIVE OXLEY, SAID IN LEGISLATIVE COUNCIL TODAY (WEDNESDAY).

CARS

FOR

THE

HE WAS REPLYING TO A QUESTION FROM THE HON CHEUNG YAN-LUNG ON THE DUMPING OF USED CARS IN THE NEW TERRITORIES, WHICH MR CHEUNG SAID RESULTED IN ENVIRONMENTAL POLLUTION BY RUSTING SCRAP AND ENGINE OIL.

"IN OUR VIEW, ABANDONED CARS ARE LESS AN ENVIRONMENTAL POLLUTION PROBLEM AND MORE A LAND-USE CONTROL PROBLEM, MR OXLEY SAID.

H

"INDEED, IN RESPECT OF GOVERNMENT LAND THE DIRECTOR OF BUILDINGS AND LANDS AS PART OF HIS FUNCTION AS THE LAND AUTHORITY KEEPS A REGULAR CHECK ON VULNERABLE GOVERNMENT SITES AND THE FIGURES OF CARS REMOVED OF ABOUT 750 IN 1987/88 AND ABOUT 500 IN 1988/89 CONFIRM THE EFFECTIVENESS OF THE ENFORCEMENT ACTION.

/"IN CASES