XN000022-1993-10-18 — Page 4

MONDAY, OCTOBER 18, 1993

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"HONG KONG REMAINS COMMITTED TO FREE TRADE, FREE ENTERPRISE AND FREE MARKETS.

"WE ARE ALSO COMMITTED TO A STABLE, LOW AND PREDICTABLE TAX SYSTEM," HE ADDED.

CONTRACT FOR SEWERAGE IMPROVEMENT WORKS SIGNED

THE DRAINAGE SERVICES DEPARTMENT TODAY (MONDAY) SIGNED A $18.9 MILLION WORKS CONTRACT TO PROVIDE IMPROVEMENT WORKS FOR THE EXISTING SEWERAGE SYSTEM IN YUEN LONG.

DIRECTOR

THE CONTRACT WAS SIGNED BY THE DEPARTMENT'S ASSISTANT (PROJECTS AND DEVELOPMENT), MR SIH NAM-SEN, AND REPRESENTATIVES OF THE CONTRACTOR, SHUN HING CONSTRUCTION COMPANY LIMITED.

THE WORKS INVOLVE THE REPLACEMENT OF ABOUT 780 METRES OF DEFECTIVE VITRIFIED AND CONCRETE SEWERS, RELINING OF ABOUT 2 KILOMETRES OF LESS DEFECTIVE SEWERS AND CLEARING OF ABOUT 3.7 KILOMETRES OF HEAVILY SILTED SEWERS.

OF

THE CONTRACT ALSO INCLUDE THE SURVEY OF ABOUT 2 KILOMETRES EXISTING SEWERS BY CLOSE CIRCUIT TELEVISION, REPAIR AND REPLACEMENT OF THE ASSOCIATED EXISTING MANHOLES AND OTHER ASSOCIATED ANCILLARY WORKS.

MR SIH SAID THE OBJECTIVE OF THE WORKS WAS TO IMPROVE THE EFFICIENCY OF THE EXIST SEWERAGE SYSTEM IN COLLECTING AND CONVEYING FOUL WATER FROM YUEN LONG TOWN, INCLUDING YUEN LONG INDUSTRIAL ESTATE AND TUNG TAU INDUSTRIAL AREA, TO THE YUEN LONG SEWAGE TREATMENT PLANT.

THE WORKS WILL BEGIN ON OCTOBER 28 FOR COMPLETION IN 18 MONTHS.

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WORKING GROUP ON REGULATION OF REAL ESTATE AGENTS

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WITH REAL

THE GOVERNMENT HAS DECIDED TO SET UP A WORKING GROUP REPRESENTATION FROM INTERESTED PARTIES TO STUDY THE OPERATION OF ESTATE AGENTS IN HONG KONG AND TO MAKE RECOMMENDATIONS ON A REGULATORY FRAMEWORK.

THE DECISION WAS MADE AFTER THE GOVERNMENT CONSULTED THE INDUSTRY, TAKING INTO ACCOUNT PUBLIC OPINION AND A LEGISLATIVE COUNCIL MOTION LAST JUNE URGING THE GOVERNMENT TO INTRODUCE LEGISLATION TO REGULATE THE OPERATION OF REAL ESTATE AGENTS THROUGH A LICENSING SYSTEM.

A GOVERNMENT SPOKESMAN SAID: "AS A SHORT-TERM GOAL THE WORKING GROUP WILL DRAW UP PROPOSALS TO SOLVE ANY PROBLEMS IDENTIFIED IN ITS STUDY WITH THE CO-OPERATION OF THE INDUSTRY.

/"IN THE