XN000022-1996-12-18 — Page 4

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Financial Secretary's remarks on IMF

串串亭

Following is the transcript of the remarks on the IMF made by the Financial Secretary, Mr Donald Tsang, at a media session at the Legislative Council today (Wednesday):

Question: Mr Tsang, the report again apply to Hong Kong's ... It seems that Mr Tung Chee-hwa has a slightly different view and I wonder how comfortable you ... carrying out policy that you don't seem to agree with their principles.

Financial Secretary: I don't think there is any major difference in principle. The policy of Hong Kong is very well accepted and proved to be very successful in Hong Kong. As far as Hong Kong's economy is concerned, it continues to evolve. The debate on how we are able to deal with our industrial development in the future is a lively one and we'll continue to have that. I am pretty open-minded on that issue. But as far as our fundamental principle of our fiscal management, the way in which we deal with the economy, of course I have rather strong views. And I will adhere to those strong views. But I will continue to listen, and I am quite sure that we can work together very well. And I know Mr Tung very well, and I don't think we have any fundamental views of difference.

End

Widely held confidence in Hong Kong's prospects - IMF says

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The recent Mission of the International Monetary Fund (IMF) gave a very positive assessment of Hong Kong's economic performance in 1996 and its prospects in 1997.

The assessment was made in a Concluding Statement by an IMF Staff Mission following an annual consultation with Hong Kong.

The Financial Secretary, Mr Donald Tsang, has decided to make public the Concluding Statement for the first time as part of the Government's efforts to enhance openness and transparency,