XN000022-1994-05-04 — Page 5

WEDNESDAY, MAY 4. 199 1

HK STANDS RESOLUTE AGAINST CORRUPTION

HONG KONG INTENDS TO DEFEND ITS REPUTATION, TO STAND FIRM FOR GOOD BUSINESS ETHICS AND TO STAND RESOLUTE AGAINST CORRUPTION

THE MESSAGE WAS HIGHLIGHTED TODAY (WEDNESDAY) BY THE GOVERNOR, THE RT HON CHRISTOPHER PATTEN, AT THE FIRST CONFERENCE IN HONG KONG DEVOTED SOLELY TO BUSINESS ETHICS.

MR

PATTEN SAID HONG KONG WAS A GOOD PLACE TO DO BUSINESS9 IN, CRUCIALLY BECAUSE IT IS BY AND LARGE CORRUPTION-FREE, WITH A SOLID RULE OF LAW BACKED UP BY CLEAN, HONEST GOVERNMENT.

HOWEVER, TODAY HONG KONG IS THREATENED AGAIN BY A RISING OF CORRUPTION.

TIDE

"THE ALARM BELLS, TINKLING FOR SOME TIME HAVE STARTED TO LOUD AND CLEAR IN THE LAST 12 MONTHS, " HE SAID.

RING

PRIVATE SECTOR ALLEGATIONS OF CORRUPTION ROSE BY 54 PER CENT BETWEEN 1992 AND 1993; THERE WAS A 26 PER CENT RISE IN THE FIRST THREE MONTHS OF THIS YEAR COMPARED TO LAST.

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"WE HAVE TO WAKE UP TO THE THREAT A RESURGENCE OF CORRUPTION WOULD POSE TO THE LONG-TERM PROSPERITY AND STABILITY OF HONG KONG, MR PATTEN SAID.

THE INDEPENDENT COMMISSION AGAINST CORRUPTION (ICAC) HAS THE CENTRAL ROLE TO PLAY IN HELPING BUSINESS DEVELOP THE HIGHEST CODES OF ETHICAL PRACTICE, HE SAID.

BE

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―

MR PATTEN REPEATED THAT "THERE NEVER HAS BEEN NOR WILL THERE ANY POLITICISATION OF THE ICAC'S WORK.

"IT HAS ONE JOB, AND ONE JOB ALONE AND THAT IS TO FIGHT CORRUPTION, STRICTLY WITHIN THE LAW," HE SAID.

IN

RESPONSE TO THE GROWING ALARM AT CORRUPTION IN THE PRIVATE SECTOR, MR PATTEN SAID A $12 MILLION INCREASE IN FUNDS FOR THE ICAC WAS ANNOUNCED LAST OCTOBER.

ALSO ANNOUNCED WAS A MAJOR NEW CAMPAIGN BY THE ICAC TO PROMOTE CODES OF CONDUCT TO MINIMISE OPPORTUNITIES FOR MALPRACTICE AMONG THE BUSINESS COMMUNITY.

OF

THE ICAC INTENDS TO CONTACT ALL 480 LISTED COMPANIES BY THE END OCTOBER TO PERSUADE THEM TO ADOPT A CODE OF CONDUCT. SO FAR AMONG THE 182 CONTACTED, ONLY 20 HAVE DRAWN UP A CODE.

MR PATTEN URGED THOSE WHO HADN'T TO ACT QUICKLY TO SET UP CODE OF CONDUCT.

HE ADDED THAT A SELF-CONFIDENT LEGISLATURE AND A FREE PRESS THAT ARE FEARLESS AND INDEPENDENT WERE POWERFUL GUARDIANS OF INTEGRITY IN PUBLIC AND COMMERCIAL LIFE.

PUBLIC

"ONE OF THE BEST TESTS OF THE PROPRIETY OF BUSINESS BEHAVIOUR IS, AT THE END OF THE DAY, WHETHER IT WOULD WITHSTAND DETAILED SCRUTINY, HE SAID.

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