XN000022-1992-11-27 — Page 10

FRIDAY, NOVEMBER 27, 1992

"THIS IS AN IMPORTANT DECISION BECAUSE IT ENABLES US TO TAKE A FURTHER STEP FORWARD ON THE AIRPORT CORE PROGRAMME, AND OF COURSE ALSO TO MEET OUR OBLIGATIONS UNDER THE MOU, IT ALSO GIVES US FURTHER TIME TO TALK WITH CHINA. WE'VE EMPHASISED BEFORE THAT OUR PRIME AIM REMAINS TO REACH AGREEMENT WITH CHINA AND THIS WILL LET US DO THAT IN PARALLEL WHILE MAKING THIS FURTHER STEP FORWARD.

"THANK YOU VERY MUCH INDEED.

*

STATEMENT ON CONTAINER TERMINAL 9

IN RESPONSE TO PRESS ENQUIRIES, THE SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS, MR TONY EASON, SAID THAT THE DEVELOPMENT OF CONTAINER TERMINAL 9 (CT9) WILL BE CARRIED OUT UNDER THE TERMS OF A LAND GRANT AS IS USUAL WITH CONTAINER TERMINALS. NO OTHER FORM CONTRACT OR FRANCHISE IS INVOLVED.

OF

"THE GRANT OF LAND FOR CT9 IS INCLUDED IN THE 1992-93 LAND DISPOSAL PROGRAMME. THIS WAS APPROVED BY THE LAND COMMISSION EARLIER THIS YEAR IN ACCORDANCE WITH THE PROVISIONS OF ANNEX III OF THE JOINT DECLARATION.'

F

ECONOMIC SITUATION IN 3RD QUARTER OF 1992 AND UPDATED FORECASTS OF GDP AND PRICES FOR 1992

THE

GROWTH MOMENTUM OF THE ECONOMY WAS SUSTAINED IN THE QUARTER OF 1992.

THIRD

RE-EXPORTS REMAINED ROBUST, WHILE DOMESTIC EXPORTS ALSO

SHOWED

AN INCREASE.

LOCALLY. BOTH CONSUMPTION AND INVESTMENT DEMAND ROSE FURTHER. LABOUR MARKET TIGHTENED UP AGAIN, AND CONSUMER PRICE INFLATION REMAINED RELATIVELY HIGH.

THE

THE GROSS DOMESTIC PRODUCT (GDP) GREW BY AN ESTIMATED 4. 7% IN REAL TERNS IN THE FIRST HALF OF 1992 OVER A YEAR EARLIER, FOLLOWING AN INCREASE OF 4.2% FOR 1991 AS A WHOLE.

THE GROWTH RATE IN THE THIRD QUARTER WAS PROBABLY IN THE REGION OF 5-5.5%.

THESE DEVELOPMENTS ARE DESCRIBED IN THE THIRD QUARTER ECONOMIC REPORT 1992 RELEASED TODAY (FRIDAY).

/THE GOVERNMENT

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