XN000022-1994-10-05 — Page 24

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WEDNESDAY, OCTOBER 5, 1994

THE GOVERNOR SAID HONG KONG MUST CONTINUE TO PROVIDE THE POSSIBLE ENVIRONMENT FOR BUSINESS.

BEST

"TRADE, INVESTMENT AND THE BUSINESS ALWAYS, AT THE TOP OF THE GOVERNMENT'S AGENDA."

REMAIN, COMMUNITY

AS

0

GOVERNOR PLEDGES TO PROMOTE FAIR AND EFFICIENT MARKETS

THE

WILL DO ALL IN ITS POWER TO PROMOTE GOVERNMENT EFFICIENT MARKETS, TO DEFEAT THE SPECULATOR AND TO PROTECT

THE RT HON CHRISTOPHER

TOLD CONSUMER, THE GOVERNOR,

PATTEN, LEGISLATIVE COUNCIL.

FAIR

AND

THE

THE

INCREASING INDUSTRY,

"WE WILL CONTINUE TO MAKE BUSINESS OPERATIONS MORE EFFICIENT BY

LEVEL THE

OF

IN COMPETITION

THE TELECOMMUNICATIONS

"

TO FOR

STAND EXAMPLE, OVER A

CUSTOMERS MILLION POTENTIAL

PHONE OPERATOR LICENCES ARE BENEFIT NEXT YEAR WHEN SIX MORE MOBILE ISSUED.

ON BANKING COMPETITION, THE GOVERNMENT HAS RESPONDED TO THE CONSUMER COUNCIL'S RECOMMENDATIONS.

ALTHOUGH

PROMPTLY

LIBERALISATION MUST BE BALANCED AGAINST REQUIREMENTS OF BANKING AND MONETARY STABILITY, THE PUBLIC STANDS BENEFIT FROM THE PHASED REMOVAL OF THE INTEREST CAP ON TIME MR PATTEN SAID.

FUNDS WILL BE PROVIDED NEXT YEAR FOR THE CONSUMER HELP UP A NEW TRADE PRACTICES DIVISION WHICH WILL COMPETITION.

SET

THE TO

DEPOSITS,

COUNCIL TO

TO PROMOTE

THE REPORTS "WE WILL RESPOND PROMPTLY AND CONSTRUCTIVELY TO

RESIDENTIAL PROPERTY WHICH THE CONSUMER COUNCIL IS PREPARING ON THE

AND ON MARKET, ON SUPERMARKETS, ON TELECOMMUNICATIONS, ON GAS SUPPLY BROADCASTING, HE SAID.

It

KONG FOURTH THE 1994 WORLD COMPETITIVENESS REPORT RATED HONG AMONG THE WORLD'S MAJOR ECONOMIES, AHEAD OF EVERY EUROPEAN COUNTRY.

"WE HAVE DONE MUCH BETTER THAN MOST OF THE WORLD IN BUSINESS EFFICIENCY AND THE FULL PLAY OF MARKET FORCES.

"NEVERTHELESS, FACED WITH RENEWED INFLATIONARY MUST IMPROVE ON THIS PERFORMANCE, HE SAID.

||

PROMOTING

PRESSURES,

WE

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