XN000022-1993-07-20 — Page 9

TUESDAY, JULY 20, 1993

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MR MILLER NOTED THAT HE WOULD BE GOING TO GENEVA NEXT TAKE PART IN A MEETING OF THE TRADE NEGOTIATIONS COMMITTEE.

WEEK TO

NEGOTIATIONS GENEVA NEXT

"HONG KONG IS READY TO DO ITS PART IN GETTING THE BACK ON THE RAILS AND MOVING. I MYSELF WILL BE FLYING TO

NEGOTIATIONS COMMITTEE, MY COLLEAGUES WILL WEEK FOR THE TRADE

BE NEGOTIATIONS ON BOTH GOODS THERE BOTH THIS WEEK AND NEXT TO PURSUE AND SERVICES.

"WE

FORWARD TO LOOK

AN BQUAL COMMITMENT

HE SAID. LIBERALISING TRADE FROM OUR TRADING PARTNERS,

ΤΟ

PROGRESS IN

ΤΟ

CONSTRUCTION OUTPUT STATISTICS FOR 1ST QUARTER OF 1993

* * * * *

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED BY MAIN CONTRACTORS, INCLUDING GENERAL AND SPECIAL TRADE CONTRACTORS, AMOUNTED $17 BILLION IN THE FIRST QUARTER OF 1993, WHICH WAS 5.5% HIGHER THAN A YEAR AGO, ACCORDING TO THE RESULTS OF THE QUARTERLY SURVEY OF CONSTRUCTION OUTPUT RELEASED TODAY (TUESDAY} BY THE CENSUS AND STATISTICS DEPARTMENT.

A SPOKESMAN FOR THE DEPARTMENT SAID THE INCREASE WAS LARGELY DUE TO MORE ACTIVE CONSTRUCTION WORK AT PUBLIC SITES AND A SIGNIFICANT GROWTH OF CONSTRUCTION ACTIVITIES AT LOCATIONS OTHER THAN CONSTRUCTION SITES.

COMPARED WITH THE FOURTH QUARTER OF 1992, THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED BY MAIN CONTRACTORS DROPPED BY 7.3%. THE DECREASE WAS PARTLY ATTRIBUTABLE TO FEWER WORKING DAYS IN THE QUARTER DUE TO THE CHINESE NEW YEAR HOLIDAYS.

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED AT PRIVATE SITES TOTALLED $7.4 BILLION BEING 7.2% LOWER THAN A YEAR AGO.

THE DECREASE WAS LARGELY DUE TO A DROP IN THE VALUE OF WORK DONE FOR COMMERCIAL BUILDING PROJECTS. COMPARED WITH THE FOURTH QUARTER OF 1992, THE VALUE ALSO DROPPED BY 10.5%.

SITES

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED AT PUBLIC WAS $4.9 BILLION, REPRESENTING AN INCREASE OF 18.3% OVER THE FIRST QUARTER OF 1992.

THE INCREASE WAS MAINLY DUE TO THE INTENSIFICATION OF WORKS FOR A NUMBER OF MAJOR INFRASTRUCTURE PROJECTS. COMPARED WITH THE FOURTH QUARTER OF 1992, THE VALUE DROPPED BY 2.5%.

THE GROSS VALUE OF CONSTRUCTION WORK PERFORMED BY GENERAL CONTRACTORS AT LOCATIONS OTHER THAN CONSTRUCTION SITES WAS $3.3 BILLION, WHICH WAS 13.5% HIGHER THAN IN THE FIRST QUARTER OF 1992 BUT 9% LOWER THAN IN THE FOURTH QUARTER OF 1992.

/THE TYPES