He expected that the Corporation would help promote the standardisation of MBS products, encourage the issue and trading of MBS in Hong Kong, and boost the development of Hong Kong's secondary mortgage market.
"With the MPF System and the Mortgage Corporation in the pipeline, in the domestic scene, Hong Kong's debt market is geared up to further expansion in the coming years," Mr Tsang said.
Mr Tsang said in the regional setting, Hong Kong is also well placed to act as the centre for debt financing services for the region's huge infrastructure work programmes.
The Asian Development Bank and the World Bank have both estimated that the region's infrastructural investment needs will be around US$1.5 trillion to US$2.5 trillion in the years up to 2000.
China alone is estimated to account for one-third of this amount.
"With the clustering of financial institutions, excellent market infrastructure, advanced telecommunications, sound legal system, accounting and logistical support, level playing field and high integrity of our regulatory system, Hong Kong can certainly play an important role in arranging such debt issues.
"In particular, we will certainly be able to carve a niche in arranging for China's debt issues," Mr Tsang said.
End
Red light camera system in LRT area
The Transport Department has installed red light camera systems to crack down on red light jumping at signalised road junctions along the Light Rail Transit Area.
The system includes a camera unit, loop detectors, sensors and a control unit.
The camera is mounted on a pole overlooking the signalised road junction and the signal sensors are linked with the traffic light signal aspect.
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