XN000022-1991-05-09 — Page 5

THURSDAY, MAY 9, 1991

NO COMMENT ON WONG'S RESIGNATION

THE

FINANCIAL SECRETARY, SIR PIERS JACOBS, REITERATED TODAY (THURSDAY) THAT HE HAD NO COMMENTS TO MAKE ON THE RESIGNATION PHILIP WONG FROM THE STOCK EXCHANGE COUNCIL.

OF DR

ASKED ABOUT HIS REACTION TO THE INCIDENT, SIR PIERS SAID: "DR WONG HAS MADE HIS OWN DECISIONS. THERE IS NOTHING MORE I CAN SAY. I DON'T THINK IT REFLECTS BADLY ON HONG KONG AS A FINANCIAL CENTRE.

IN RESPONSE TO COMMENTS ABOUT THE LACK OF INFORMATION FROM GOVERNMENT ON THE RECENT EVENTS WITHIN THE STOCK EXCHANGE COUNCIL, SIR PIERS SAID IT WAS REALLY UP TO THE STOCK EXCHANGE ITSELF TO PUT OUT INFORMATION ABOUT ITS OWN INTERNAL AFFAIRS.

HE SAID IT WAS NOT FOR GOVERNMENT TO SPEAK FOR THE STOCK HE BELIEVED INFORMATION HAD BEEN GIVEN BY THE

EXCHANGE. ADMINISTRATION WHERE APPROPRIATE.

DEBATE то BE HELD IN THE

MOVING A WOULD BR

ASKED ABOUT THE TOBACCO TAX LEGISLATIVE COUNCIL NEXT WEEK, SIR PIERS SAID HE WOULD BE RESOLUTION DEALING WITH THIS PARTICULAR SUBJECT, BUT IT NECESSARY TO HEAR THE VIEWS OF THE MEMBERS.

HE SAID THE WHOLE PURPOSE OF HAVING A DEBATE IN THE LEGISLATIVE COUNCIL WAS TO HEAR VIEWS THAT WERE EXPRESSED AND IF NECESSARY RESPOND TO THEM IN PARTICULAR WAYS.

ON THE RENEWAL OF MFN STATUS FOR CHINA, SIR PIERS SAID THIS WAS VERY IMPORTANT TO HONG KONG BECAUSE A LOT OF THE TERRITORY'S BUSINESS INVOLVED CHINA OR WERE CONNECTED WITH PROCESSINGS CARRIED ON IN CHINA.

**IT WOULD HAVE A VERY GRAVE EFFECT ON OUR BUSINESS. MADE OUR VIEWS KNOWN WHERE IT COUNTS, HE SAID.

་་

SO WE'VE

SIR PIERS WAS SPEAKING TO MEMBERS OF THE MEDIA AFTER HIS ADDRESS TO THE KOWLOON ROTARY CLUB LUNCHEON MEETING.

—

PRICE AND VOLUME MOVEMENTS OF EXTERNAL TRADE IN FEBRUARY

COMPARED RELEASED

THE VOLUME OF DOMESTIC EXPORTS INCREASED BY 10%, WHILE THAT OF RE-EXPORTS GREW BY 31% IN THE FIRST TWO MONTHS OF 1991 AS WITH THE SAME PERIOD IN 1990, ACCORDING TO THE STATISTICS TODAY (THURSDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

IN

TAKING THEM TOGETHER, THERE WAS AN OVERALL INCREASE OF 23% THE VOLUME OF TOTAL EXPORTS. IMPORTS INCREASED BY 25% IN VOLUME TERMS.

/THE GROWTH