XN000022-1990-10-31 — Page 26

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WEDNESDAY, OCTOBER 31, 1990

THE GOVERNMENT HAD KEPT ITS INDUSTRIAL SUPPORT UNDER CONSTANT REVIEW, AND IT WAS ENGAGED

ACTIVITIES REVIEW AT THIS TIME.

POLICIES AND IN ONE SUCH

CAN BE "A PARTICULAR CONCERN IS HOW THE DELIVERY OF SERVICES

CARRIED OUT IN CLOSE BEING THE REVIEW IS BETTER COORDINATED. CONSULTATION WITH THE INDUSTRY DEVELOPMENT BOARD," HE SAID.

0

-

GOVT ACTIVELY REGULATES SECURITIES MARKET

* *

THE

GOVERNMENT WILL

CONTINUE TO PLACE

A HIGH ENHANCING THE FAIRNESS, TRANSPARENCY AND EFFICIENCY OF

MARKET, SECURITIES

THE FINANCIAL SECRETARY, SIR PIERS TODAY (WEDNESDAY).

SPEAKING AT

PRIORITY ON HONG KONG'S JACOBS, SAID

ON THE THE LEGISLATIVE COUNCIL'S RESUMED DEBATE

GOVERNMENT 19. GOVERNOR'S POLICY SPEECH, SIR PIERS SAID ALTHOUGH THE

IT HAD EXPERIENCED AWARE OF THE DANGERS OF OVER-REGULATION, EFFECTS OF INADEQUATE REGULATORY CONTROL OVER THE PURSUIT INTEREST IN THE MARKET.

"THE IMPORTANCE OF MAINTAINING PROGRESS AND BALANCE FIELD IS NO LESS NOW THAN IT WAS IN 1987.

THE OF SELF-

IN THIS

SIR PIERS SAID THERE WERE THOSE WHO HAD SUGGESTED THAT, AS HONG IT REGULATORY DISCIPLINES, KONG MANAGED WELL IN THE PAST WITH FEW COULD CONTINUE TO DO SO IN THE FUTURE.

HE SAID THIS VIEW WAS OUT OF STEP WITH THE CURRENT REALITIES OF THE SECURITIES MARKET.

A

OF AN INCREASINGLY "WHETHER WE LIKE IT OR NOT, WE ARE PART INTER-DEPENDENT WORLD MARKET IN WHICH INTERNATIONAL INVESTORS PLAY KEY ROLE. BOTH THEY AND OUR OWN INCREASINGLY SOPHISTICATED COMMUNITY EXPECT APPROPRIATE STANDARDS OF BUSINESS CONDUCT AND ACCOUNTABILITY.

**THE HONG KONG MARKET, MORE THAN MOST, DEPENDS FOR ITS GROWTH ON DEVELOPING ITS INTERNATIONAL DIMENSION.

"ACCORDINGLY,

WE

FUTURE

1+

HIGH PRIORITY ON WILL CONTINUE TO PLACE A

MARKETS, ENHANCING THE FAIRNESS, TRANSPARENCY AND EFFICIENCY OF OUR HE SAID.

THE

NEED TO

AND IN OF THE

SIR PIERS SAID THE GOVERNMENT WAS CONSCIOUS OF BALANCE THE INTERESTS OF DIFFERENT GROUPS OF MARKET PLAYERS INTEREST DOING So, IT WOULD NOT LOSE SIGHT OF THE OVERALL MARKET AND THE HONG KONG COMMUNITY.

"WE SHALL PLAY THIS ROLE WITH SENSITIVITY

AND GOOD

COMMON

SENSE,

" HE SAID.

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