XN000022-1996-05-21 — Page 8

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"By world standards, our sewage charges have been set at a very low initial level. Even after the series of increases have been implemented, the charges will only come to about one third to one half of the water charges for domestic users."

The proposed increase for this year has been approved by the Governor-in- Council and the amending regulations to give legislative effect to the increase will soon be introduced into the Legislative Council.

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STI welcomes renewal of China's MFN status

The Secretary for Trade and Industry, Miss Denise Yue, welcomed President Clinton's decision to renew unconditionally China's Most Favoured Nation (MFN) trading status for another year.

"President Clinton's decision to renew China's MFN status without attaching conditions is good news for Hong Kong. We are grateful to know that the President has taken Hong Kong's interests into account," she said,

"The United States and China are Hong Kong's two largest trading partners and good relations between them are a vital factor in our long-term success."

Yesterday, President Clinton announced his decision in a speech at the Pacific Basin Economic Council meeting. Under US law, he still has to submit his decision formally to Congress by June 3. Congress may pass a joint resolution disapproving the President's decision. This would have to be done within 60 days after July 3, the day when China's current MFN trading status expires. If Congress did pass such a resolution, the President would have 10 working days to veto the resolution, and Congress would have 15 legislative days to override the President's veto.

"We look forward to President Clinton's formal submission of his decision to Congress. We will continue with our lobbying efforts and keep Congress informed of Hong Kong's position, so as to enable Congress to take our interests into account when it deliberates on the matter," Miss Yue said.

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