XN000022-1994-08-31 — Page 7

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WEDNESDAY, AUGUST 31, 1994

APPLICATIONS FOR GRANTS FROM THE FUNDS WILL BE THE ADVISORY COMMITTEE WHICH WILL SELECT PROPOSALS FOR EITHER OR BOTH OF THE FUNDS.

CONSIDERED BY FUNDING FROM

SELECTION

WILL

ON THE INDIVIDUAL BE BASED

THE PROJECT,

TECHNICAL AND PROJECT APPLICANT AND THE DEMONSTRABLE NEED FOR THE PROJECT.

MANAGEMENT

MERITS OF THE

OF CAPABILITY

THE

INFORMATION ABOUT FUNDING APPLICATIONS AND APPLICATION FORMS IS LANDS BRANCH, THE

NOW AVAILABLE AT THE PLANNING, ENVIRONMENT AND ENVIRONMENTAL PROTECTION DEPARTMENT, ALL DISTRICT OFFICES AND WHEELOCK AND COMPANY ·LIMITED.

NOTE TO EDITORS:

FOR PRESS ENQUIRIES ABOUT THE WOO WHEELOCK GREEN FUND, CONTACT MR JOHN HUNG, EXECUTIVE DIRECTOR, WHEELOCK GROUP AND LIMITED ON 844 2288.

PLEASE COMPANY

MONETARY STATISTICS FOR JULY 1994

*

HONG KONG DOLLAR DEPOSITS AND HONG KONG DOLLAR LOANS REGISTERED MODERATE GROWTH IN JULY WHILE NON-US DOLLAR FOREIGN CURRENCY DEPOSITS CONTINUED TO DECLINE, ACCORDING TO STATISTICS PUBLISHED TODAY (WEDNESDAY) BY THE HONG KONG MONETARY AUTHORITY.

DEPOSITS

THE GROWTH OF HONG KONG DOLLAR TIME DEPOSITS SLOWED DOWN 1.7% IN JULY COMPARED WITH 5.5% IN MAY AND 2.4% IN JUNE.

TO

A

AT THE SAME TIME, HONG KONG DOLLAR SAVINGS DEPOSITS RECORDED MODEST 1.1% GROWTH AFTER FALLING BY 0.3% EACH IN THE PREVIOUS TWO MONTHS.

S] T

THE EFFECT OF THE LOCAL INTEREST RATE HIKE IN MAY ON THE FROM SAVINGS DEPOSITS INTO TIME DEPOSITS HAS GRADUALLY DISSIPATED.

DEMAND DEPOSITS FELL BY 3.5% DURING THE MONTH, REACHING THE LOWEST LEVEL SINCE OCTOBER 1993.

CURRENCY FOREIGN

SWAP DEPOSITS RECORDED NOTABLE

INCREASE

OF 5.8% IN JULY, PARTLY OWING TO A SLIGHT INCREASE IN SWAP DEPOSIT RATE.

JULY,

WHILE US$ DEPOSITS REGISTERED A SOLID GROWTH OF 5.5% IN THE DECLINING TREND OF NON-US DOLLAR FOREIGN CURRENCY DEPOSITS CONTINUED. NON-US DOLLAR FOREIGN CURRENCY DEPOSITS FELL BY 1.3% IN JULY AND BY 11.6% OVER A YEAR EARLIER.

/LOANS AND