XN000022-1991-02-04 — Page 3

2

MONDAY, FEBRUARY 4, 1991

"IT IS HARDLY CONDUCIVE TO THE STABILITY OF THE CIVIL IF ITS PAY STRUCTURE IS SUBJECT TO ENDLESS CHANGE," HE ADDED.

SERVICE

FOCUS

MR WIGGHAM CONFIRMED THAT THE ADMINISTRATION WOULD NEXT ITS ATTENTION ON HOW TO IMPROVE THE MANAGEMENT AND PRODUCTIVITY OF THE CIVIL SERVICE.

OBSERVATIONS

AND

THE

RESPONSIBILITY

THE STANDING COMMISSION'S REPORT INCLUDED RECOMMENDATIONS IN THIS REGARD AND POINTED OUT THAT "IN SHARING FRUITS OF ECONOMIC PROSPERITY, THE CIVIL SERVICE HAS A TO THE PUBLIC FOR IMPROVING OUTPUT AND EFFICIENCY".

"IT

OF HONG WHICH

IS IMMENSELY IMPORTANT FOR THE CONTINUED SUCCESS KONG THAT WE MAINTAIN AN EFFICIENT AND DEDICATED CIVIL SERVICE IS DESERVING OF PUBLIC RESPECT,' MR WIGGHAM SAID.

"

MONETARY STATISTICS FOR DECEMBER 1990

HONG KONG

DOLLAR

AUTHORISED DEPOSITS WITH

INSTITUTIONS

PUBLISHED TODAY

INCREASED DURING DECEMBER, ACCORDING TO STATISTICS (MONDAY) BY THE MONETARY AFFAIRS BRANCH.

CENT.

FOR 1990 AS A WHOLE, HONG KONG DOLLAR DEPOSITS ROSE BY 15.4 PER SLIGHTLY HIGHER THAN THE GROWTH RATE OF GROSS DOMESTIC

IN MONEY TERMS.

PRODUCT

HONG

CONSISTENT WITH THE INCREASE IN DEPOSITS DURING DECEMBER, KONG DOLLAR MONEY SUPPLY, EXCEPT THE NARROWEST DEFINITION, ROSE DURING THE MONTH.

TOTAL LOANS

AND

ADVANCES ALSO REGISTERED AN

INCREASE

IN

DECEMBER.

DEPOSITS

HONG

KONG

DOLLAR

DEPOSITS

WITH

INSTITUTIONS,

AUTHORISED

1. 4 PER CENT IN ADJUSTED TO INCLUDE SWAP DEPOSITS, INCREASED BY

PER CRNT IN DECEMBER,

OF 0.6 PER CENT AND 0.3 FOLLOWING DECLINES OCTOBER AND NOVEMBER RESPECTIVELY.

PER CENT

OF THESE DEPOSITS, DEMAND DEPOSITS DECLINED BY 3.5 WHILE SAVINGS AND TIME DEPOSITS INCREASED BY 3.1 PER CENT AND 1.4 CENT RESPECTIVELY IN DECEMBER.

PER

DURING 1990, TOTAL HONG KONG DOLLAR DEPOSITS GREW BY 15.4

PER

CENT.

/FOREIGN CURRENCY