XN000022-1990-07-04 — Page 35

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WEDNESDAY, JULY 4, 1990

HE SAID IF THE EEC COUNTRIES WERE COUNTED AS ONE, HONG KONG WAS ACTUALLY THE SIXTH LARGEST TRADING ENTITY IN THE WORLD.

"THE LARGEST TRADING NATION, POPULATION 40 TIMES THAT OF HONG KONG ABOUT SIX TIMES THAT OF HONG KONG.

-

THE UNITED STATES

VALUE HAS A TOTAL TRADE

—

WITH A

ONLY

14

"OURS IS A TRULY REMARKABLE ACHIEVEMENT, HE SAID.

MR CHAU SAID HONG KONG WAS BOTH A MAJOR MANUFACTURER AND A MAJOR EXPORTER OF JEWELLERY ITEMS.

"WHERE FASHION JEWELLERY IS CONCERNED, WE ARE THE WORLD'S LEADING EXPORTER.

"FOR A NUMBER OF YEARS HONG KONG HAS MAINTAINED THE POSITION AS THE WORLD'S LARGEST EXPORTER OF COSTUME JEWELLERY, WITH AN EXPORT VALUE OF $1.2 BILLION IN 1989," HE SAID.

MR CHAU SAID STATIONERY AND PREMIUM ITEMS WERE AL90 PRODUCTS WITH GOOD MARKET POTENTIAL.

HE SAID HONG KONG'S DOMESTIC EXPORTS OF OFFICE AND STATIONERY SUPPLIES HAD BEEN GROWING STEADILY OVER THE LAST FEW YEARS.

"AS REGARDS PREMIUM ITEMS, WE ARE THE WORLD'S SECOND LARGEST EXPORTER OF BOTH WATCHES AND TOYS.

IN

DESIGN,

QUALITY FOR OUR EXPORTS OF

AND

"GIVEN HONG KONG'S SOPHISTICATION MARKETING, I CAN SEE VERY GOOD OPPORTUNITIES STATIONERY AND PREMIUM ITEMS, HE SAID.

14

-

0

STATUTORY COMPOUND INTEREST ON DEBT RECOMMENDED

LAW

THE LAW REFORM COMMISSION HAS RECOMMENDED THE PROVISION BY OF COMPOUND INTEREST ON DEBTS THAT ARE NOT PAID ON TIME SO THAT CREDITORS DO NOT HAVE TO BEAR THE FINANCIAL BURDEN CAUSED BY LATE PAYERS.

THE RECOMMENDATION IS CONTAINED IN A INTEREST ON DEBT AND DAMAGES PUBLISHED BY THE TODAY (WEDNESDAY).

REPORT ON THE LAW ON LAN REFORM COMMISSION

THE REPORT IS THE RESULT OF FOUR YEARS' WORK BY THE COMMISSION, AND A SUB-COMMITTEE CHAIRED BY MR GRAHAM CHENG, ΤΟ EXAMINE THIS COMPLEX AREA OF THE LAW WHICH DIRECTLY AFFECTS MANY PEOPLE.

EXPLAINING THE COMMISSION'S RECOMMENDATION, A SPOKESMAN FOR THE COMMISSION SAID THAT IT OFTEN HAPPENS THAT A DEBT IS PAID LATE, DEPRIVING THE CREDITOR OF THE USE OF THE MONEY UNTIL IT IS PAID. THE CREDITOR THEN HAS TO TAKE THE MATTER TO COURT IN ORDER JUDGMENT AGAINST THE DEBTOR FOR THE MONEY OWED.

ΤΟ

GET

A

/UNDER THE