XN000022-1994-10-31 — Page 15

13

MONDAY, OCTOBER 31, 1994

PROVISIONS

"FIRST,

WE WILL REVIEW CERTAIN SPECIAL FLEXIBILITY PROVIDED TO HONG KONG BY CANADA SINCE JANUARY 1993 AS A RESULT OF CONVERSION OF THE CATEGORISATION SYSTEM UNDER THE MOU TO ONE BASED THE HARMONISED SYSTEM.

THE ON

"SECOND, WE WILL DISCUSS ADMINISTRATIVE ARRANGEMENTS NOTIFIABLE SET OF UNDER ARTICLE 2.17 OF THE ATC, WITH A VIEW TO AGREEING ON A ARRANGEMENTS DEEMED NECESSARY IN RELATION TO THE IMPLEMENTATION OF ANY

ARTICLE PROVISION QUANTITATIVE RESTRICTIONS.

OF

2

OF

THE

ATC

WHICH

PRIMARILY

DEALS

WITH

"THIS SET OF MUTUALLY AGREED ARRANGEMENTS WILL NOTIFIED TO THE TEXTILES MONITORING BODY, TO BE ESTABLISHED UNDER WORLD TRADE ORGANISATION,

EVENTUALLY BE

THE

WITH CANADA INTO THE FROM HONG

MR YIU SAID HONG KONG WOULD ALSO WISH TO DISCUSS ADMINISTRATIVE MEASURES DURING THE TRANSITION FROM THE MOU ATC TO AVOID ANY DISRUPTION TO TRADE IN TEXTILES EXPORTS KONG TO CANADA.

"THE ATC

WILL REPLACE

ALL

EXISTING

BILATERAL TEXTILES DURING AGREEMENTS WHEN PUT INTO FORCE, PROVIDING A 10-YEAR TRANSITION

** HE SAID. WHICH TEXTILE QUOTAS WILL BE PHASED OUT IN STAGES,

TEXTILES

"AT THE END OF THE TRANSITION, GLOBAL TRADE IN TEXTILE PRODUCTS WILL BE RE-INTEGRATED UNDER THE GENERAL AGREEMENT TARIFFS AND TRADE/WORLD TRADE ORGANISATION DISCIPLINES.

AND ON

FOR

MR YIU SAID THAT DURING HIS STAY IN OTTAWA AND TORONTO HE WOULD

RESPONSIBLE PAY

OFFICIALS COURTESY CALLS

CANADIAN ON INTERNATIONAL TRADE.

ALSO

0

MONETARY STATISTICS FOR SEPTEMBER 1994

(MONDAY) BY THE SEPTEMBER MONETARY STATISTICS RELEASED TODAY

KONG THE HONG KONG MONETARY AUTHORITY INDICATED THAT THE RISE IN HONG

HAVE RESTRAINED CREDIT DOLLAR INTEREST RATES IN LATE AUGUST MIGHT DEMAND.

LOANS GROWTH SLOWED DOWN IN GENERAL AND MORTGAGE LOANS MODERATED MARKEDLY IN THE SEPTEMBER QUARTER.

DEPOSITS

HONG

KONG

UP

MOMENTUM,

FURTHER DOLLAR TIME DEPOSITS PICKED RISING BY 3.1% IN SEPTEMBER, FOLLOWING A 2.4% INCREASE IN AUGUST.

GROWTH GROWTH

A

A MILD SMALL 10.1%

AFTER FOUR MONTHS OF STAGNANCY, SAVINGS DEPOSITS HAD

DEMAND DEPOSITS ALSO RECORDED OF 1.4% IN SEPTEMBER.

6.6% AND OF

THEIR ANNUAL GROWTH RATES WERE 1.0%. RESPECTIVELY, UP FROM 6.2% AND 3.6% IN THE PREVIOUS MONTH.

AFTER SUCCESSIVE

GROWTH

MONTHS, US IN THE PAST FEW

DEPOSITS

NON-US BY 0.3% IN SEPTEMBER. DECLINED SLIGHTLY, FOREIGN CURRENCY DEPOSITS INCREASED FOR THE SECOND MONTH IN THEY ROSE BY 0.9% IN SEPTEMBER FOLLOWING A 2.3% RISE IN AUGUST.

DOLLAR DOLLAR

A

ROW.

/LOANS AND