XN000022-1991-01-02 — Page 3

2

WEDNESDAY, JANUARY 2, 1991

"THE WORKING GROUP IS

AWARE OF THE ACTIVITIES OF THE TWO

TO ASSOCIATIONS OF

PURSUE FOREX COMPANIES FORMED FRINGE

THESE ASSOCIATIONS WOULD BE SELF-REGULATION BUT HAS DOUBTS WHETHER

THEIR MEMBERS' INTERESTS AND ABLE TO STRIKE A FAIR BALANCE BETWEEN THOSE OF INVESTORS," THE SPOKESMAN EXPLAINED.

DEVELOP TO THE CONSIDERS

HE SAID IN THE LONGER TERM THE INDUSTRY MIGHT POINT WHERE IT COULD REGULATE ITSELF, BUT THE WORKING GROUP THAT A CERTAIN DEGREE OF REGULATION WOULD HAVE TO BE INTRODUCED FIRST.

IF

PURSUED,

THE WORKING GROUP CONSIDERS THAT THE INTRODUCTION OF A NEW

WOULD BE REGULATORY FRAMEWORK, COMPREHENSIVE BURDENSOME TO TAXPAYERS.

AND

VERY

"AS THE PROBLEMS

ARE ON THE

MARKET'S FRINGE, THIS POLICY OPTION IS CONSIDERED TO BE LIKE USING A SLEDGE-HAMMER TO CRACK A 'NUT,' THE SPOKESMAN SAID.

"GIVEN THAT

BANKS

AND

DEPOSIT-TAKING

COMPANIES,

OFFER

TO SIMILAR SERVICES

FRINGE DOES NOT CONSIDER THE MANPOWER AND AND COMPREHENSIVE REGULATORY

WHICH WELL-ESTABLISHED

THE

ARE

SUPERVISED BY THE COMMISSIONER OF BANKING, AND OTHER INSTITUTIONS OF HIGH REPUTE COMPANIES, THE WORKING GROUP FINANCIAL RESOURCES REQUIRED FOR A NEW FRAMEWORK JUSTIFIED, HE ADDED.

**

0

VBP FIGURES FOR 1990

A TOTAL OF 6,599 VIETNAMESE BOAT PEOPLE ARRIVED IN 1990.

IN HONG KONG

THE

REFUGEE COORDINATOR, MR CLINTON LEEKS, SAID TODAY (WEDNESDAY) WHILE THE FIGURE WAS LOWER THAN THE NUMBER OF ARRIVALS

то ALLEVIATE THE REAL 1988 AND 1989, THIS HAD DONE LITTLE THAT HONG KONG IS FACING.

1988 "IT SHOULD BE REMEMBERED THAT ARRIVALS IN 18,000 AND 34,000, WERE UNUSUALLY HIGH, HE EXPLAINED.

IN

PROBLEM

AND

1989,

AT

"THE ARRIVAL RATE IN THE EARLY 1980S HAD BEEN GRADUALLY

то ABOUT DROPPING EACH YEAR,

3,400 IN 1987, BEFORE THIS SUDDEN UPSURGE. THE NUMBER OF ARRIVALS IN 1990 WAS, IN FACT, NOT THE AVERAGE ANNUAL ARRIVAL FIGURE OF ABOUT 8,000 FOR THE WHOLE."

AT THE END OF THE YEAR, THERE WERE 8,161 BOAT PEOPLE (I.E. THOSE ALREADY SCREENED OUT AWAITING SCREENING) IN CAMPS IN HONG KONG. THIS REFUGEES AND 43,702 AT THE START OF 1990.

MUCH BELOW 1980S AS A

REFUGEES AND AS NON-REFUGEES,

WITH COMPARED

43,875 OR 12,022

/"THESE FIGURES