XN000022-1992-01-23 — Page 2

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THURSDAY, JANUARY 23, 1992

CALL FOR JOINT EFFORT TO FIGHT OVER MFN

THE IMPORTANCE TO HONG KONG OF UNCONDITIONAL RENEWAL OF MOST FAVOURED NATION (MEN) STATUS FOR CHINA WAS EMPHASISED BY TRADE DEPARTMENT OFFICIALS TODAY (THURSDAY).

MEETING REPRESENTATIVES FROM LOCAL CHAMBERS OF COMMERCE AND TRADE ORGANISATIONS, THE DIRECTOR-GENERAL OF TRADE, MR DONALD TSANG, SAID THE GOVERNMENT LOOKED FORWARD то WORKING WITH THE SECTOR ON THIS IBSUR IN 1992.

"WE SHOULD AIM AT A COMERENT AND FORORFUL MESSAGE SHOULD TIME OUR MISSIONS TO THE U.9. CAREFULLY AND TARGET OUR SENSIBLY," HE SAID.

PRIVATE

AND WE EFFORT

MR TSANG TOLD TRADE LEADERS THAT BY JUNE 3 PRESIDENT WOULD HAVE TO DECIDE ON CHINA'S MEN STATUS FOR ANOTHER YEAR.

HE WELCOMED THE PRIVATE SECTOR'S PLANS TO SEND MISSIONS TO U.S., AND THEIR OTHER INITIATIVES.

BUSH

THE

HE SAID THE HONG KONO GOVERNMENT WOULD JNTENSIFY ITS OWN EFFORTS AND WOULD WORK WITH ALLIES IN THE U.S. FOR THIS PURPOSE.

MR TSANG ASSURED TRADE LEADERS THAT THE GOVERNMENT WOULD KEEP IN CLOSE TOUCH WITH THEM AND ORGANISE FURTHER MEETINGS WITH THEM A9 NECESSARY.

PRESENT AT TODAY'S BRIEFING SESSION AT THE TRADE DEPARTMENT WERE REPRESENTATIVES FROM THE HONG KONG GENERAL CHAMBER OF COMMERCE, CHINESE GENERAL CHAMBER OF COMMERCE, AMERICAN CHAMBER OF COMMERCE, CHINESE MANUFACTURERS' ASSOCIATION OF HONG KONG, DIAN CHAMBER OF COMMERCE, FEDERATION OF HONG KONG INDUSTRIES, HONG KONG EXPORTERS' ASSOCIATION, THE HONG KONG TRADE DEVELOPMENT COUNCIL AND THE TEXTILE COUNCIL.

WAGE INDEXES FOR SEPTEMBER 1991

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THE OVERALL NOMINAL WAGE INDEX FOR SEPTEMBLR LAST YEAR WAS 10.6% HIGHER THAN IN SEPTEMBER 1990, ACCORDING TO STATISTICS RELBASED TODAY (THURSDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

BUT THE OVERALL REAL WAGE INDEX FOR SEPTEMBER LAST YRAR WAS 0.8% LOWER THAN IN SEPTEMBER 1990.

WHILE NOMINAL WAGES STILL SHOWED DOUBLE-DIGIT INCREASES IN MOST SECTORS OVER THE SAME PERIOD OF COMPARISON, INFLATION REMAINED HIGH OVER THE PERIOD.

THEREFORE AFTER DISCOUNTING FOR INFLATION, SMALL DECLINES IN REAL TERMS WERE RECORDED.

/COMPARING SEPTEMBER