XN000022-1994-05-11 — Page 6

WEDNESDAY, MAY 11, 1994

AN

IT

IN AN ATTEMPT TO ALLEVIATE THE PLIGHT OF THOSE LOOKING FOR

THE ADMINISTRATION AFFORDABLE HOME, MANY PEOPLE HAVE DEMANDED THAT

YET IT IS TAKES CONCRETE ACTION TO TACKLE PROPERTY SPECULATORS.

A "SPECULATIVE" EXTREMELY

TO DEFINE IN CLEAR LEGAL TERMS DIFFICULT TRANSACTION. ONE MAN'S SPECULATION IS ANOTHER MAN'S INVESTMENT. IS A CHALLENGE TO THE LAW DRAFTSMAN TO WORK OUT A LEGAL DEFINITION SPECULATORS WHICH WILL NOT UNINTENTIONALLY PENALISE GENUINE OR THOSE FOR WHOM PROPERTY TRANSACTIONS ARE THE MAINSTAY OF A DAY-TO-DAY BUSINESS. THIS COULD BE A SOURCE OF CONTROVERSY

MOREOVER, ALMOST WOULD HAVE

APPEAL. TO

AVENUES FOR PROVIDE DEFINITION, A PUNITIVE TAX WOULD INVITE WIDESPREAD ATTEMPTS TO OR EVADE TAX. THIS POINTS TO AN EXPENSIVE SCHEME WITH DOUBTFUL EFFECTIVENESS.

OF

END-USERS REGULAR AND WB

BY

AVOID COST-

IN

LAND SUPPLY IN SHORT, THE ESTABLISHMENT OF THE TASK FORCE ON AND PROPERTY SPECULATION DEMONSTRATES THE ADMINISTRATION'S RESOLVE

ON THE QUESTION OF A CAPITAL TACKLING THE SPIRALLING PROPERTY PRICES.

POSSIBLE GAINS TAX, WE NEED TO GIVE VERY CAREFUL CONSIDERATION TO ITS RAMIFICATIONS

THAT WE MINDFUL IN

KONG. WE ARE PARTICULARLY HONG SHOULD NOT ADOPT A MEASURE WHICH WOULD LIKELY LAND US WITH PROBLEM THAN WE ORIGINALLY HAVE.

WILL

A BIGGER

TAKE CAREFUL

NOTE DEBATE.

OF THE VIEWS THE OFFICIAL

THE ADMINISTRATION EXPRESSED BY MEMBERS IN THE COURSE OF THIS MEMBERS WILL ABSTAIN FROM VOTING ON THE MOTION.

0

GOVERNMENT SHARES DEEP CONCERN OVER XI YANG'S CASE: SHA

AND

OF

ANXIETY THE

XI YANG, TOLD THE LEGISLATIVE

THE BRITISH AND HONG KONG GOVERNMENTS UNDERSTAND THE DISMAY FELT IN HONG KONG OVER THE TREATMENT

FOR HOME AFFAIRS, MR MICHAEL SUEN, SECRETARY COUNCIL TODAY (WEDNESDAY).

MR XI'S

"EVER SINCE HE WAS ARRESTED WE HAVE BEEN IN CLOSE CONTACT THE BRITISH GOVERNMENT AND MR XI'S EMPLOYER CONCERNING SITUATION, MR SUEN SAID.

WITH

SPEAKING AT A MOTION DEBATE URGING FOR THE RELEASE OF THE

ALSO MING

REPORTER, MR SUEN SAID GOVERNMENT'S CONCERN HAD PAO MADE CLEAR TO THE CHINESE AUTHORITIES, AS HAD THE NEED GUIDELINES FOR FOREIGN JOURNALISTS WORKING IN CHINA.

FOR

BEEN CLEARER

FOR

ELABORATING, MR SUEN SAID THAT EVERY YEAR JOURNALISTS WHOM, LIKE XI YANG, HONG KONG IS HOME MAKE HUNDREDS, IF NOT THOUSANDS, OF TRIPS TO CHINA.

AND THEIR COVERAGE OF CHINA'S OPENING UP AND ITS ASTONISHING AND ALL ECONOMIC TRANSFORMATION IS ADVANTAGEOUS TO CHINA, HONG KONG THOSE WHO HAVE, OR WISH TO HAVE, LINKS WITH CHINA.

FOR

WOMEN THIS REASON, MR SUEN SAID THESE DEDICATED MEN AND NEED AND DESERVE ABOVE ALL ELSE, CLEAR GUIDELINES FOR REPORTING IN CHINA.

/MR XI'S