XN000022-1996-09-30 — Page 3

· 2 -

"We will keep up our spirits and pledge to continue to provide an effective administration well beyond 1997."

Forty-six commitment, or seven per cent of the total, are behind schedule.

"The precise reasons for each individual slippage are given in the Progress Report. We are making every effort to complete these undertakings as soon as possible," Mrs Chan said.

She pointed out that Hong Kong was one of the very few governments in the world which adopted a system of annually publishing detailed policy commitments and a progress report to cover every aspect of the administration's activities.

Launching of the Progress Report is the first part of the annual exercise to make sure that the Government is genuinely accountable to the people of Hong Kong.

Chan.

"It is a valuable tool in our commitment to serving the community," said Mrs

"It is very much to the credit of the civil service that it has accepted the need for this annual exercise in accountability."

The Governor, the Rt Hon Christopher Patten, will present his fifth Policy Address on Wednesday (October 2). The 1996 Policy Commitments outlining the principal proposals from each Policy Branch will also be published.

End

Monetary statistics for August

The total deposits rose while the total loans and advances declined slightly in August 1996, according to statistics published today (Monday) by the Hong Kong Monetary Authority (HKMA).

Table 1 summarises figures for August and comparisons with earlier months.

Deposits

Hong Kong dollar deposits grew by 1.2% in August while foreign currency deposits dropped by 0.8%. As a result, total deposits increased by 0.3%, following a rise of 0.8% in July.