XN000022-1997-02-21 — Page 2

Transcript of the Financial Secretary

The following is the transcript by the Financial Secretary, Mr Donald Tsang, at the media session at the opening ceremony of the Chinese University of Hong Kong MBA Town Centre at East Ocean Centre today (Friday):

Question: Mr Tsang, how do you feel about retaining in your position in the future Government and what are your thoughts about your future relationship with Mr Tung?

Tsang: Well, I am a very good friend of Mr Tung and to whom have my considerable respect. And I of course feel very honoured that I will be able to continue to serve the SAR Government, that has been my ambition throughout my working career. And I am very happy and honoured that, that aspiration has been realised. And together with my colleagues, we'll continue to work to the full of our ability in the years to come.

Question: What's your response to speculation that your responsibility might be considerably reduced? For example with the head of, speculation of the head of the Monetary Authority having to report to Mr Tung instead of you in the future?

Tsang: Well, there are lots of speculations around. And I am quite sure Mr Tung will take the wise, wisest counsel. And whatever decision he's made, ever made is in the best interest of Hong Kong,

End

Hong Kong to hold textiles consultations with US

A Hong Kong delegation, led by the Deputy Director-General of Trade, Mrs Rebecca Lai, will leave for consultations on a range of on-going textile issues with the United States (US) to be held on February 24 in Washington, D.C.

The US side will be led by the Deputy Chief Textile Negotiator, Ms Caroyl Miller, from the Office of the US Trade Representative.

The consultations will mainly cover three on-going issues as follows:

Matters arising from the US decision in April 1995 to use their import data instead of Hong Kong's export data for quota accounting purposes;