- 9.
Sir Hamish gave a few examples of how the Government was discharging its responsibility to create the modern facilities which Hong Kong needed, "wherever possible in close collaboration with the private sector".
These are the new airport at Chek Lap Kok; a new transport network including the Western Harbour Crossing, West Kowloon Expressway, Route Three, Lantau Fixed Crossing and North Lantau Expressway; the container terminals and railway development.
The Financial Secretary said the Government also had a role to play in supporting technological development.
These are being done in the following areas:
A new Hong Kong Industrial Technology Centre where 70 per cent of its space has been let.
Increase in funds for technology development to $210 million.
The Government had a special obligation to provide a modern infrastructure to support its "burgeoning financial services sector", Sir Hamish said.
"Hong Kong is probably unique in having its role as an international financial centre enshrined in its constitutional document.
"Article 109 of the Basic Law requires the future Special Administrative Region (SAR) Government to maintain Hong Kong's status as an international financial centre by providing an appropriate economic and legal environment."
The Government is already at work to maintain and improve that environment, he said.
"We are co-operating closely with the banking community to develop by 1996 one of the most modern real-time gross settlement systems in the world.
"We hope to have this linked up with similar systems in other major financial centres, as well as to the Chinese National Automated Payment System to allow payments arising from cross-border activities to be effected safely."
The debt market clearing and settlement systems are being upgraded, he added.
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