XN000022-1994-02-01 — Page 7

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TUESDAY, FEBRUARY 1, 1994

THE CONSULTATIVE PAPER REVEALED THAT THE WORKING PARTY ALSO RECOMMENDED THE IMPLEMENTATION OF A NUMBER OF INTERIM MEASURES, PENDING CONSIDERATION OF RTGS.

THESE INCLUDE ADVANCING FINAL SETTLEMENT FOR LARGE VALUE CHEQUES AND INTERBANK TRANSFERS TO THE END OF THE SAME DAY.

NO DEADLINE IS SET FOR THE CONSULTATION. THE HKMA WILL WORK CLOSELY WITH HKAB AND OTHER INTERESTED PARTIES IN THE NEXT FEW MONTHS TO MAP OUT THE WAY FORWARD.

TERRITORY DEVELOPMENT DEPARTMENT READY TO MEET CHALLENGES

THE TERRITORY DEVELOPMENT DEPARTMENT (TDD } HAS COMPLETED A MAJOR REORGANISATION TO MEET RAPID DEVELOPMENT CHANGES AND IN THE COMING YEARS.

ANNOUNCING THIS AT A MEET-THE-MEDIA SESSION TODAY THE DIRECTOR OF TERRITORY DEVELOPMENT, MR CHOW CHE-KING, DEVELOPMENT OFFICES HAD BEEN REDUCED FROM SEVEN TO FIVE.

THE FIVE DEVELOPMENT OFFICES AND THEIR

AFTER THE REORGANISATION ARE:

* NEW TERRITORIES WEST

NEW TERRITORIES NORTH

GEOGRAPHICAL

CHALLENGES

(TUESDAY) +

SAID THE

COVERAGE

COVERING TSUEN WAN AND TUEN MUN;

NEW TERRITORIES EAST

-

_

COVERING YUEN LONG, NORTH DISTRICT (SHPUNG SHUT AND FANLING) AND TAI PO:

COVERING SAT KUNG (INCLUDING KWAN O) AND SHA TIN;

TSEUNG

COVERING KOWLOON PENINSULA; AND

KOWLOON

-

HONG KONG ISLAND AND ISLANDS

—

COVERING

HONG KONG ISLAND, TUNG CHUNG NEW TOWN AND RURAL TOWNSHIP IN ISLANDS DISTRICT.

EXPLAINING THE RESTRUCTURING, MR CHOW SAID THE TERRITORY HAD ENTERED AN ERA OF RAPID CHANGES AND GREATER EXPECTATION, AND COULD ONLY MEET NEW CHALLENGES WITH CONTINUOUS QUEST FOR EXCELLENCE.

HE SAID THE REORGANISATION WOULD ENABLE HIS DEPARTMENT TO DEAL NEW DEVELOPMENTS MORE EFFICIENTLY WITH A MORE BALANCED ORGANISATION STRUCTURE.

WITH

"UPON COMPLETION OF THE RESTRUCTURING, TOP NOW HAS 1 MORE BALANCED ORGANISATION STRUCTURE READY TO MEET THE DEPARTMENT'S NEW CHALLENGES, HE ADDED.

M

ON THE WORK OF THE DEPARTMENT IN THE PAST YEAR, MR. CHOW SAID SATISFACTORY PROGRESS HAD BEEN MAINTAINED ON THE DEVELOPMENT OF THE NEW TOWNS.

/"WHILE ALL