XN000022-1993-10-25 — Page 8

- 7

-

MONDAY, OCTOBER 25, 1993

NEW LOANS APPROVED BUT NOT YET DRAWN ALSO SHOWED A SIGNIFICANT REDUCTION IN TERMS OF BOTH NUMBERS (FROM 3,260 ΤΟ 2,186) AND (FROM $4.3 BILLION TO $2.9 BILLION).

VALUE

"JUDGING FROM THESE FIGURES, I EXPECT ΤΟ SEE A FURTHER SLOWDOWN IN LENDING NEXT MONTH," MR CARSE SAID.

MR CARSE NOTED HOWEVER THAT A NUMBER OF INSTITUTIONS CONTINUED TO RECORD MUCH HIGHER THAN AVERAGE GROWTH IN THEIR LENDING. HE URGED SUCH INSTITUTIONS TO REVIEW THEIR LENDING CRITERIA.

INDIVIDUAL RATES OF CAREFULLY

OF PROPERTIES IN CHINA,

AS REGARDS LENDING FOR THE PURCHASE THE LATEST FIGURES SHOWED THAT SUCH LEDNING ROSE BY 1.6 PER CENT IN SEPTEMBER, RISING FROM $3.08 BILLION то $3.13 BILLION. ABOUT TWO-THIRDS OF THE INCREASE WAS ATTRIBUTABLE TO LOANS FOR THE PURCHASE OF RESIDENTIAL PROPERTIES.

AFTER A SHARP INCREASE IN AUGUST, NEW LOAN APPROVALS FELL IN SEPTEMBER, FROM $270 MILLION TO $184 MILLION.

'WIN-WIN' WAYS PROPOSED FOR INDUSTRIES

*

THE

GOVERNMENT-COMMISSIONED

CONSULTANTS HAVE PROPOSED AN IMMEDIATE ACTION PACKAGE AND A LONGER TERM SUPPORT STRATEGY TO HELP INDUSTRY REMAIN COMPETITIVE WHILE COMPLYING WITH NEW ENVIRONMENTAL CONTROLS.

THIS WAS STATED BY THE ASSISTANT DIRECTOR-GENERAL OF INDUSTRY, MR GAVIN URE, WHEN SPEAKING AT THE HONG KONG MANAGEMENT ASSOCIATION ANNUAL CONFERENCE ON SUPPORT TO INDUSTRY ON ENVIRONMEMTAL MATTERS TODAY (MONDAY).

MR URE SAID THE IMMEDIATE ACTION PACKAGE FOCUSSED ON ACCESS TO INFORMATION REQUIRED FOR COMPLIANCE, PROVIDING SUPPORT, ADDRESSING THE NEED FOR NEW LAND AND PREMISES AND ACCESS TO POLLUTION CONTROL EQUIPMENT.

IMPROVING TECHNICAL IMPROVING

THE LONGER TERM SUPPORT STRATEGY EMPHASISED THE RESEARCH INTO POLLUTION CONTROL PROCESSES AND TECHNOLOGIES BY TERTIARY INSTITUTIONS, HE NOTED.

NEED

FOR

THE

THE

OF

THE $12 MILLION CONSULTANCY STUDY, COMMISSIONED BY INDUSTRY DEPARTMENT IN MARCH LAST YEAR, AIMED TO ASSESS THE IMPACT EXISTING AND PROPOSED ENVIRONMENTAL LEGISLATION ON HONG KONG'S MANUFACTURING INDUSTRIES,

IT ALSO CONSIDERED THE LEVEL OF AND ASSESSED HOW THE SUPPORT NEEDED TO HELP INDUSTRY REMAIN COMPETITIVE ENVIRONMENTAL CONTROLS.

SUPPORT AVAILABLE то INDUSTRY BE ENHANCED OR IMPROVED TO WHILE COMPLYING WITH NEW

/MR URE