XN000022-1993-01-07 — Page 4

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THURSDAY, JANUARY 7, 1993

"AN INTERESTING AND ENCOURAGING TREND IS THAT HONG KONG IS NOW GRADUALLY MOVING TOWARDS DESIGNING AND MARKETING MORE OF ITS OWN TOYS RATHER THAN SOLELY RELYING ON LICENSING AND CONTRACT MANUFACTURING FOR OVERSEAS MANUFACTURERS, SHE SAID.

**

AT PRESENT, TOY EXPORTS REPRESENT 5.9 PER CENT OF HONG KONG'S TOTAL EXPORT.

BILLION.

IN 1991, TOTAL EXPORTS GREW BY 20 PER CENT ΤΟ NEARLY $44

THE U.S. MARKET REGISTERED A 13 PER CENT INCREASE IN 1991 WHILE MANY EUROPEAN MARKETS INCLUDING GERMANY, FRANCE, ITALY, NETHERLANDS AND BELGIUM POSTED IMPRESSIVE GROWTHS FROM 32 PER CENT TO 42 PER CENT.

NOTING THAT THE ASIAN ECONOMY IS THRIVING MRS CHAN REMINDED TOY MANUFACTURERS NOT TO OVERLOOK THE OPPORTUNITIES PROVIDED BY THIS MARKET.

I

"IN RECENT YEARS WE HAVE SEEN RAPID GROWTH! IN THE ECONOMIC STRENGTH OF COUNTRIES IN THE REGION.

"WITH INCREASING

MORE ON CONSUMER PRODUCTS, SALES IN THE ASIAN MARKET,

T

PERSONAL WEALTH COMES THE ABILITY ΤΟ SPEND 30 THE PROSPECTS ARE BRIGHT FOR INCREASING

SHE SAID.

0

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MORE SAFEGUARDS FOR MEMBERS OF PRIVATE RETIREMENT SCHEMES * * * * *

THE OCCUPATIONAL RETIREMENT SCHEMES ORDINANCE WILL GIVE A BASIC CRITERION FOR THE ACCEPTABILITY OF OCCUPATIONAL RETIREMENT SCHEMES AND MAKE CLEAR THAT THE SCHEME MEMBERS ARE THE ULTIMATE BENEFICIARIES OF THE ASSETS OF SUCH SCHEMES, THE COMMISSIONER OF INSURANCE, MR NIGEL SHIPMAN, SAID.

OF HONG

SPEAKING AT A LUNCHEON MEETING OF THE Y'S MEN'S CLUB KONG THIS (THURSDAY) AFTERNOON, MR SHIPMAN URGED SCHEME MEMBERS то TAKE THIS OPPORTUNITY TO SAFEGUARD THEIR FUTURE RETIREMENT BENEFITS.

"WE ARE AFTER ALL THE BEST JUDGES AND THE BEST DEFENDERS OF OUR OWN INTERESTS," HE SAID.

MR SHIPMAN SAID THE ORDINANCE CONFERRED ON SCHEME MEMBERS THE RIGHT TO GIVE ADVICE AND TO BE KEPT INFORMED, AND TO FORM CONSULTATIVE MACHINERY FOR THAT PURPOSE.

IT IS THE GOVERNMENT'S INTENTION THAT THE COMMISSIONER OF INSURANCE WILL BE APPOINTED AS THE REGISTRAR RETIREMENT SCHEMES.

OF OCCUPATIONAL

HE WILL BE RESPONSIBLE FOR EFFECTING THE RETIREMENT SCHEMES AND FOR MONITORING HOW THE OBLIGATIONS PROVIDED BY THE ORDINANCE ARE CARRIED OUT.

REGISTRATION

FUNCTIONS

OF

AND

/MR SHIPMAN