XN000022-1992-10-02 — Page 3

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FRIDAY, OCTOBER 2, 1992

STI COMMENTS ON SENATE'S MFN VOTE

THE ACTING SECRETARY FOR TRADE AND INDUSTRY, MISS DENISE YUE, WELCOMED THE NEWS EARLY THIS (FRIDAY) MORNING THAT THE U. S. Į PRESIDENT'S VETO OF THE MOST FAVOURED NATION (MFN) CONDITIONALITY

BILL HAD BEEN SUSTAINED IN THE SENATE,

"THE VOTE FELL SHORT OF THE TWO-THIRDS MAJORITY REQUIRED OVERRIDE THE PRESIDENTIAL VETO. THE BILL IS DEAD, MISS YUE SAID.

ΤΟ

..

THE

UNFORTUNATELY THIS IS NOT THE END OF THE MATTER. PRESIDENT HAS TO RENEW MFN TRADING STATUS FOR CHINA EVERY YEAR UNDER PRESENT U.S. LAW. HE HAS TO DO SO BY JUNE 3 EVERY YEAR.

"WE WILL CONTINUE TO EMPHASISE TO THE U.S. ADMINISTRATION MEMBERS OF CONGRESS JUST HOW DAMAGING WITHDRAWAL OR CONDITIONING CHINA'S MFN STATUS WOULD BE TO HONG KONG, SHE SAID.

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THE PRESIDENTIAL VETO OF THE BILL ATTACHING CONDITIONS RENEWAL OF CHINA'S MFN TRADING STATUS HAS BEEN SUSTAINED.

AND

OF

ΤΟ THE

THE U.S. SENATE VOTE ON THURSDAY WAS 59 TO

40. THE HOUSE OF REPRESENTATIVES VOTED BY 345 TO 74 TO OVERRIDE THE VETO ON WEDNESDAY (SEPTEMBER 30).

RELAXATION OF RENT CONTROL WILL HAVE LITTLE IMPACT: SURVEY

THE COMMISSIONER OF RATING AND VALUATION, MR BARRY WOODROFFE, TODAY (FRIDAY) SAID EVEN INCLUDING PRE-WAR PREMISES ONLY ABOUT 50,000 HOUSEHOLDS OR 150,000 PEOPLE WOULD BE AFFECTED BY THE PHASING OUT OF

RENT CONTROL.

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A COMPREHENSIVE SURVEY CONDUCTED BY HIS DEPARTMENT REVEALED THAT ABOUT 80 PER CENT OF THE AFFECTED HOUSEHOLDS HAD ONE OR MORE PERSONS IN THE ECONOMICALLY ACTIVE AGE GROUP OF 15 59 AND ONLY EIGHT PER CENT OF HOUSEHOLDS WERE OCCUPIED BY PEOPLE AGED OVER 70.

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ADDRESSING A LUNCHEON MEETING OF THE ROTARY CLUB OF KOWLOON NORTH, MR WOODROFFE SAID THE FIGURES OF AFFECTED HOUSEHOLDS AND PEOPLE WERE WELL BELOW SOME OF THE PUBLISHED CLAIMS OF CERTAIN INTEREST GROUPS.

/HE NOTED