XN000022-1993-11-22 — Page 10

MONDAY, NOVEMBER 22, 1993

AT TODAY'S MEETING, MEMBERS ALSO AGREED TO DEFINE AN ESTATE AGENT IN SUCH A WAY AS TO INCLUDE ANY INDIVIDUAL WHO HOLDS HIMSELF OUT TO THE PUBLIC IN A SINGLE OR A SERIES OF PROPERTY TRANSACTIONS REGARDLESS OF WHETHER HE RECEIVES ANY CONSIDERATION.

MEMBERS AGREED TO MEET ON A MONTHLY BASIS AND THEY WILL MEET

AGAIN ON JANUARY 4 NEXT YEAR.

AT THE NEXT MEETING, THE WORKING GROUP WILL REVIEW THE EXISTING OPERATION OF ESTATE AGENTS IN HONG KONG, TO IDENTIFY INADEQUACIES AND TO PROPOSE SHORT-TERM SOLUTIONS.

THEY WILL ALSO LOOK INTO THE REQUIRED LEVEL OF COMPETENCY OF ESTATE AGENTS IN HONG KONG.

THE WORKING GROUP WELCOMES VIEWS AND SUGGESTIONS FROM THE PUBLIC ON THE ABOVE ISSUES AND THESE CAN BE FORWARDED TO THE SECRETARY OF THE WORKING GROUP IN PLANNING, ENVIRONMENT AND LANDS BRANCH, 20TH FLOOR, MURRAY BUILDING, GARDEN ROAD, CENTRAL, HONG KONG.

THE WORKING GROUP IS CHAIRED BY THE DEPUTY SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS (HOUSING POLICY), MR LEO KWAN. MEMBERS INCLUDE A REPRESENTATIVE EACH FROM THE SOCIETY OF HK REAL ESTATE AGENTS, HK REAL ESTATE AGENCIES ASSOCIATION, HK INSTITUTE OF SURVEYORS, LAW SOCIETY OF HK, CONSUMER COUNCIL AND INDEPENDENT COMMISSION AGAINST CORRUPTION, AND HEAD OF CENTRE FOR EDUCATION OF CITY POLYTECHNIC,

CONTINUING

CONSUMER PRICE INDICES FOR OCTOBER 1993

THE CONSUMER PRICE INDEX (A) IN OCTOBER WAS 9% HIGHER THAN IN THE SAME MONTH LAST YEAR, ACCORDING TO FIGURES RELEASED TODAY (MONDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.

THIS WAS HIGHER THAN THE CORRESPONDING INCREASE OF 7.9% IN

SEPTEMBER.

A GOVERNMENT SPOKESMAN SAID THERE WAS NO INDICATION OF A RESURGENCE OF INFLATIONARY PRESSURE.

"THE FASTER INCREASE IN THE CPI(A) IN OCTOBER IS LIKELY TO BE TEMPORARY. IT WAS MAINLY DUE TO THE SIGNIFICANTLY HIGHER PRICES OF FRESH VEGETABLES CAUSED BY THE BAD WEATHER DURING LATE SEPTEMBER AND EARLY OCTOBER.

"PRICES FOR MANY OTHER COMPONENTS, SUCH AS HOUSING, MISCELLANEOUS GOODS AND MISCELLANEOUS SERVICES, SHOWED A SLOWER INCREASE IN OCTOBER THAN IN SEPTEMBER WHEN COMPARED WITH A YEAR EARLIER, HE SAID.

/TAKING THE

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