XN000022-1992-03-18 — Page 7

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WEDNESDAY, MARCH 18, 1992

MAKE A MAJOR WILL EXPENDITURE

SUBVENTIONS ENABLE THE NON-GOVERNMENT SECTOR TO CONTRIBUTION TO THE COMMUNITY'S WELFARE. TOTAL AMOUNT TO $1,542 MILLION, AN OVERALL 4.2 PER CENT INCREASE.

THESE AGENCIES WILL TAKE YOUNG PEOPLE AS THEIR TOP SPENDING

ELDERLY THE

PRIORITY ($410 MILLION), CLOSELY FOLLOWED BY MILLION), FAMILY WELFARE ($327 MILLION) AND REHABILITATION MILLION).

($378 ($324

CITING SOME EXAMPLES IN THE SUBVENTED SECTOR, SHE SAID THERE WOULD BE EIGHT NEW CHILDREN CENTRES AND NINE NEW YOUTH CENTRES CATERING FOR CHILDREN AND YOUNG PEOPLE, AN ADDITIONAL 1,400 AND DAY-NURSEY PLACES, 527 EXTRA PLACES IN ELDERLY HOSTELS AND HOMES, AN ADDITIONAL 457 RESIDENTIAL PLACES FOR THE DISABLED, 640 SHELTERED WORKSHOP PLACES AND 420 DAY ACTIVITY CENTRE PLACES.

HK BECOMES 10TH LARGEST TRADING ECONOMY

* * * * *

THE DIRECTOR-GENERAL OF THE GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT) TODAY (WEDNESDAY) PRESENTED TO THE GATT COUNCIL HIS ANNUAL REPORT ENTITLED "OVERVIEW OF DEVELOPMENTS IN INTERNATIONAL TRADE AND THE TRADING SYSTEM", COVERING DEVELOPMENTS IN 1991.

"IT IS PLEASING TO NOTE FROM THE

REPORT THAT IN 1991, HONG KONG MOVED FROM BEING THE 11TH LARGEST EXPORTER то THE 10TH PLACE. HONG KONG WAS ALSO THE 10TH LARGEST IMPORTER (12TH PLACE IN 1990),' THE DIRECTOR-GENERAL OF TRADE, MR DONALD TSANG, SAID.

Pr

"HONG KONG, WHICH HAS BEEN PLAYING AN ACTIVE PART IN THE ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (OECD), WAS ONE OF THE SIX LEADING NON-OBCD ASIAN ECONOMIES TO REGISTER THE STRONGEST OVERALL TRADE GROWTH.

"WE HAVE DEMONSTRATED CLEARLY THAT TRADE IS NOT A ZERO-SUM GAME AND THAT DYNAMIC EXPORTERS ARE ALSO DYNAMIC IMPORTERS." MR TSANG SAID.

WILL PROVIDE A

"A SUCCESSFUL CONCLUSION OF THE URUGUAY ROUND BOOST TO THE WORLD ECONOMY WHICH, ACCORDING TO THE REPORT, IS SHOWING SIGNS OF A MODEST RECOVERY. HONG KONG WILL CONTINUE TO PLAY AN ACTIVE AND CONSTRUCTIVE PART IN THE NEGOTIATIONS," HE ADDED.

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