XN000022-1993-09-14 — Page 9

TUESDAY, SEPTEMBER 14, 1993

ABOUT

ASSISTANCE

INCLUDE

THE

65 PER CENT OF THE 86,200 COMPREHENSIVE SOCIAL CASES ARE ELDERLY PERSONS WHILE THE

THE DISABLED, THE MENTALLY ILL, SINGLE-PARENT FAMILIES.

SECURITY OTHER

GROUPS CHRONICALLY ILL AND

MAJOR

"IN

THE CURRENT FINANCIAL YEAR, SOCIAL SECURITY PAYMENTS COMPRISE 67 PER CENT OF THE TOTAL ESTIMATED EXPENDITURE OF THE WELFARE DEPARTMENT, SHE SAID.

11

WILL

SOCIAL

"TOTAL PAYMENTS WILL AMOUNT TO $4.9 BILLION.'

TT

MRS WONG ALSO NOTED THAT THE GREATEST CHALLENGE TO HONG SOCIAL SECURITY SYSTEM WAS POPULATION AGING.

KONG'S

EXPECTED

PER

OF PERSONS

THE PERCENTAGE OF PERSONS AGED 65 YEARS AND ABOVE IS TO INCREASE FROM 9.4 PER CENT OF TOTAL POPULATION IN 1993 TO 11.8 CENT BY 2001, WITH A SIGNIFICANT INCREASE IN THE NUMBER AGED 75 AND OVER.

TRADE DIRECTOR WELCOMES CHINESE MOVES TO CURB INFLATION

* * * * *

THE DIRECTOR-GENERAL OF TRADE, MR TONY MILLER, TODAY (TUESDAY) WELCOMED CURRENT EFFORTS TO SLOW PRICE INFLATION IN CHINA.

IN A SPEECH AT A ROTARY CLUB LUNCH, HE SAID SOOTHSAYERS HAD FORETOLD A PROBLEM FOR SOME TIME.

HONG KONG TRADE STATISTICS ALONE SIGNALLED TREMENDOUS INCREASES IN ECONOMIC ACTIVITY: HONG KONG RE-EXPORTS OF CHINA-MADE GOODS UP OVER 30 PER CENT IN 1991, NEARLY 30 PER CENT AGAIN IN 1992.

HE SAID THAT KIND OF GROWTH AND THE INVESTMENT IT EXCITED WERE BOUND TO CREATE STRAINS.

"MANY COUNTRIES MAKING A BID FOR GROWTH HAVE EXPERIENCED HIGH INFLATION

INFLATION STILL LOOKS QUITE MODEST BY COMPARISON TO SOME, MR MILLER SAID.

CHINA'S RATES;

STEADY

"ALL CREDIT TO THE CHINESE GOVERNMENT THAT IT HAS TAKEN THE SO

OF SERIOUSLY, AND HAS RESPONDED WITH A BROAD RANGE ADJUSTMENTS. JUST HOW SUCCESSFUL THEY WILL BE REMAINS TO BE SEEN.'

ISSUE

"

"WHAT IS CLEAR, IS THE DETERMINATION TO GET THE SITUATION UNDER FOR CONTROL WITHOUT CAUSING RECESSION. THIS MUST BE GOOD NEWS HONG KONG," HE ADDED.

FIRM

"IT MAY MEAN A SLIGHT LOWERING IN OUR EXPECTATIONS FOR ECONOMIC GROWTH IN THE SHORT TERM, THOUGH THE TRADE FIGURES SHOW LITTLE EFFECT SO FAR, AND THE GDP GROWTH FORECAST THIS YEAR STILL STANDS AT 5.5 PER CENT.

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/"IT CERTAINLY