XN000022-1991-11-07 — Page 6

THURSDAY, NOVEMBER 7, 1991

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COUNCIL

MR CHAU SAID A NEW INDUSTRY AND TECHNOLOGY DEVELOPMENT WILL BE ESTABLISHED ON JANUARY 1 NEXT YEAR TO HELP THE GOVERNMENT CONTINUE TO RESPOND TO THE RAPIDLY CHANGING TECHNOLOGICAL ENVIRONMENT.

THE COUNCIL, WHICH WILL TAKE OVER FROM THE INDUSTRY DEVELOPMENT BOARD AND THE COMMITTEE ON SCIENCE TECHNOLOGY, WILL ADVISE THE GOVERNMENT ON STRATEGIES FOR FACILITATING INDUSTRIAL UPGRADING, ESPECIALLY IN THE AREAS OF TECHNOLOGY TRANSFER AND APPLIED R&D.

"THE COUNCIL WILL ALSO BE CONCERNED WITH HOW BEST TO FOCUS AND CO-ORDINATE OUR EXISTING INDUSTRIAL SUPPORT SERVICES,' HE ADDED.

E

ON A FINAL NOTE, MR CHAU SAID HONG KONG IS WELL PLACED TO TAKE ADVANTAGE OF OPPORTUNITIES IN TECHNOLOGY-BASED INDUSTRIES.

"WE HAVE A FREE FLOW OF INFORMATION. WE HAVE A WELL EDUCATED

AND WE WORKFORCE AND AN EFFICIENT INFRASTRUCTURE. SKILLED AND

ARE FAMILIAR WITH AND HAVE READY ACCESS TO ADVANCED TECHNOLOGY FROM OVERSEAS, HE SAID.

TO

HE POINTED OUT THAT THE RECENT DECISION BY THE U.S. GOVERNMENT

TRADE LICENSING BENEFITS TO AWARD INTRA-COCOM VERY POSITIVE DEVELOPMENT.

HONG KONG

IS

A

KONG.

"THE U.S. IS THE LARGEST SUPPLIER OF HIGH-TECH THE LIBERALISATION OF LICENSING PROCEDURES WILL ALLOW A AND EASIER FLOW OF THESE GOODS FROM THE U.S. TO HONG KONG,"

ΤΟ GOODS

HONG FASTER HE ADDED.

INFORMATION MEMORANDUM OF GOVERNMENT BOND PROGRAMME PUBLISHED

THE OFFICE OF THE EXCHANGE FUND, THE ISSUING AGENT FOR THE GOVERNMENT BONDS, PUBLISHES TODAY (THURSDAY) AN INFORMATION MEMORANDUM OF THE HONG KONG GOVERNMENT BOND PROGRAMME.

"THE INFORMATION MEMORANDUM SETS OUT THE RELEVANT DETAILS THE BONDS PROGRAMME, INCLUDING THE TENDER ARRANGEMENTS AND PROCEDURES FOR APPLICATION, PAYMENT, AND SETTLEMENT," A SPOKESMAN THE OFFICE OF EXCHANGE FUND SAID.

OF

THE

FOR

BORROW

VARIOUS RESOLUTIONS AUTHORISING THE GOVERNMENT TO THROUGH THE ISSUE OF BONDS UNDER THE LOANS ORDINANCE SUM NOT EXCEEDING FIVE BILLION HONG KONG DOLLARS FOR THE PURPOSES OF THE CAPITAL WORKS RESERVE FUND AND CAPITAL INVESTMENT FUND WERE PASSED BY THE LEGISLATIVE COUNCIL YESTERDAY (WEDNESDAY)

"ALL THE NECESSARY APPROVALS HAVE NOW BEEN OBTAINED FOR THE LAUNCHING OF THE GOVERNMENT BOND PROGRAMME, THE SPOKESMAN SAID.

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"THE FIRST TENDER OF THE BONDS WILL BE HELD LATER THIS MONTH. DETAILS OF THE BONDS TO BE ISSUED, INCLUDING THE AMOUNT ON OFFER, INTEREST RATE, THE TENDER DATE, ISSUE DATE AND MATURITY DATE WILL BE ANNOUNCED AT LEAST FOUR DAYS BEFORE THE TENDER DATE, HE SAID.

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COPIES OF THE INFORMATION MEMORANDUM CAN BE OBTAINED FROM THE OFFICE OF THE EXCHANGE FUND ON 24TH FLOOR, ADMIRALTY CENTRE, TOWER II, 18 HARCOURT ROAD, HONG KONG.

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