XN000022-1994-10-11 — Page 9

TUESDAY, OCTOBER 11, 1994

"THE PROPOSED AMENDMENTS WILL FILL A GAP IN THE EXISTING REGULATORY FRAMEWORK AND PUT HONG KONG ON PAR WITH MAJOR INTERNATIONAL MARKETS. IN THE ABSENCE OF THE NEW PROVISIONS, THE SFC WOULD INCREASING RELUCTANCE ON THE PART OF OVERSEAS REGULATORS INVESTIGATORY ASSISTANCE.

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TO PROVIDE

"THE NEW ARRANGEMENTS ARE THEREFORE ESSENTIAL FOR MAINTAINING THE INTEGRITY OF OUR REGULATORY FRAMEWORK, HE SAID.

THE TWO BILLS WILL BE GAZETTED ON FRIDAY (OCTOBER 14).

22,000-SQUARE-METRE SPACE FOR TECHNOLOGY-BASED COMPANIES

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SEVERAL HIGH-TECHNOLOGY START-UP COMPANIES WILL BE MOVING INTO THE NEW INDUSTRIAL TECHNOLOGY CENTRE THIS MONTH, THE SECRETARY FOR TRADE AND INDUSTRY, MR T H CHAU, SAID TODAY (TUESDAY).

THE CENTRE WILL PROVIDE 22,000 SQUARE METRES OF SPACE FOR TECHNOLOGY-BASED COMPANIES, AND WILL OFFER BUSINESS AND TECHNOLOGY- ORIENTED SUPPORT SERVICES TO TENANTS SO AS TO MAXIMISE THEIR CHANCES OF SUCCESS.

THIS IS ONE OF THE CONTINUING MEASURES ADOPTED BY THE GOVERNMENT TO ASSIST MANUFACTURERS то REMAIN COMPETITIVE IN INTERNATIONAL MARKETS AND TO HELP INDUSTRIALISTS MOVE UP THE TECHNOLOGY LADDER.

EXPLAINING THE TRADE AND INDUSTRY ASPECTS OF THE GOVERNOR'S POLICY ADDRESS AT A PRESS CONFERENCE TODAY (TUESDAY), MR CHAU SAID

TO FURTHER ENHANCE THE BUSINESS ENVIRONMENT FOR MANUFACTURING INDUSTRY, A LARGE PART OF THE GOVERNMENT'S EFFORTS WAS DEVOTED TO MEETING THE EVOLVING REQUIREMENTS OF INDUSTRIALISTS FOR LAND AND ACCOMMODATION.

"LARGE-SCALE INDUSTRIES REQUIRING EXTENSIVE SPACE AND WATER- FRONT ACCESS WILL BE ABLE TO TAKE ADVANTAGE OF THE TSEUNG KWAN 0 INDUSTRIAL ESTATE, WHICH OPENED LAST MONTH.

"NEXT YEAR, WE SHALL COMPLETE A FEASIBILITY STUDY ON THE ESTABLISHMENT OF A SCIENCE PARK IN HONG KONG. THE STUDY WILL LOOK AT POSSIBLE SITES, AS WELL AS CONSIDER HOW A SCIENCE PARK COULD INTERFACE WITH OTHER INDUSTRIAL SUPPORT FACILITIES.

ON THE EXPANSION OF HONG KONG'S CAPACITY FOR ADVANCED RESEARCH, MR CHAU SAID HIS BRANCH WOULD BE SEEKING $50 MILLION TO COVER THE INITIAL SETTING UP COSTS OF AN APPLIED RESEARCH CENTRE ΤΟ PROMOTE JOINT PROJECTS WITH CHINA'S LEADING RESEARCH INSTITUTES.

"TO MAXIMISE SYNERGY AND KEEP OVERHEADS LOW, CONSIDERATION BEING GIVEN ΤΟ COMBINING THIS WITH AN EXISTING INITIATIVE APPLIED RESEARCH AND DEVELOPMENT FUND COMPANY LIMITED.

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"WE SHALL BE DISCUSSING FURTHER WITH THE COMPANY WHAT CHANGES WOULD BE NECESSARY TO ENSURE THAT BOTH THE EXISTING SCHEME AND THE NEW INITIATIVE CAN BE OPERATED EFFECTIVELY, HE SAID.

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/IN ACHIEVING