XN000022-1993-08-13 — Page 3

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FRIDAY, AUGUST 13, 1993

"AN ELIGIBLE OFFICER, FIRST OF ALL, HAS TO APPLY," SHE SAID.

++

ADMINISTRATION

'WHETHER HE IS SUCCESSFUL IN HIS APPLICATION WILL DEPEND ON THE MAKING THE DECISION BASED ON SERVICE NEEDS AND THE OFFICERS' PERFORMANCE AND ON WHETHER HE IS PHYSICALLY FIT, MRS CHAN SAID.

RESPONSE TO NCNA REMARKS

* * *

TO

HAVE

KONG

IN RESPONSE TO MEDIA ENQUIRIES ABOUT REMARKS REPORTED BEEN MADE BY A NEW CHINA NEWS AGENCY

TODAY, A HONG GOVERNMENT SPOKESMAN SAID:

OFFICIAL

"THE REMARKS ATTRIBUTED TO DENG XIAOPING WERE MADE BEFORE SIGNING OF THE JOINT DECLARATION.

UNDER THE TERMS OF THE JOINT DECLARATION, CHINA WILL SOVEREIGNTY ON JULY 1, 1997. BEFORE THEN, THE BRITISH GOVERNMENT BE RESPONSIBLE FOR THE ADMINISTRATION OF HONG KONG.

11

THE

RESUME

WILL

NO RELAXATION FOR MORTGAGE LENDING

* * * *

DONALD TSANG,

SAID TODAY CENT MORTGAGE CEILING FOR

THE ACTING FINANCIAL SECRETARY, MR (FRIDAY) THAT THE GUIDELINE OF A 70 PER RESIDENTIAL PROPERTIES SHOULD REMAIN IN FORCE.

NEWSPAPER REPORT WHICH SAID PRINCIPLE TO A PROPOSAL MORTGAGE

HE SAID THERE WAS NO TRUTH IN A THAT THE FINANCIAL SECRETARY HAD AGREED IN PUT FORTH BY THE REAL ESTATE DEVELOPERS ASSOCIATION TO RELAX CEILING FOR GENUINE HOME-BUYERS.

MR TSANG SAID THE 70 PER CENT MORTGAGE CEILING HAD HELPED EXCESSIVE SPECULATION AND THERE WAS NO REASON WHY THERE

CURB RELAXATION AT THIS STAGE,

SHOULD BE A

AT A MEETING WITH THE REAL

SECRETARY,

MAY 27 THE FINANCIAL

ASSOCIATION ON SYMPATHETIC TO THE PROBLEM FACED BY FIRST-TIME HOME-BUYERS,

HAMISH MACLEOD, SAID HE WAS NOTED.

MR TSANG

ESTATE DEVELOPERS MR

BUT MR MACLEOD HAS MADE IT CLEAR TO THE IS DIFFICULT TO DEFINE FIRST-TIME HOME-BUYERS AND TO DEVISE A

ASSOCIATION THAT IT MORTGAGE LENDING PACKAGE FOR THEM,

SPECIAL MR TSANG SAID.

CEILING,

MR TSANG POINTED OUT THAT MR MEETING THAT HE COULD NOT SEE ANY JUSTIFICATION TO RELAX THE

MACLEOD HAD REITERATED AT THE BEARING IN MIND THE EFFECT THIS WOULD HAVE ON THE PROPERTY MARKET.

/THE ACTING