XN000022-1996-10-02 — Page 5

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Governor's vision for HK's future positive: FS

In response to media enquiries on the 1996 Policy Address, the Financial Secretary, Mr Donald Tsang, said today (Wednesday): "I share the Governor's positive vision for the future of Hong Kong based on the full implementation of all the promises and provisions set out in the Joint Declaration."

Mr Tsang is currently in Washington on a duty visit.

"I am very happy that the Governor has announced a series of measures to improve services to meet the ever-growing and changing needs of the community.

"I am particularly pleased to note the Governor's commitment to economic growth and to a more efficient and business-friendly administration.

"It is important for the Government to provide continued infrastructural support for our industries to move into high value-added production. We also need to encourage greater competitiveness in our service industries.

"We must above all uphold our policy of maximum support and minimum intervention," he said.

Commenting on the initiatives pertaining to the financial sector, Mr Tsang said banking and monetary stability remained the Government's highest priority.

"Of course we are also pursuing our new initiative of establishing a Mortgage Corporation by 1997," he said.

"We shall carry out to the full the policies outlined in the Governor's Policy Address, in accordance with our firm commitment to improving our service to the community."

Earlier today, Mr Tsang began the day by appearing on CNN's "Business Asia" programme and later attended the opening ceremony of the 1996 International Monetary Fund/World Bank annual meetings.

Afterwards, he had meetings with Mr Lawrence Lindsey of the Board of Governors of the Federal Reserve and Dr Stanley Fischer, First Deputy Managing Director of the International Monetary Fund.

J