XN000022-1997-04-30 — Page 5

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Mandatory provision of escorts on board school buses carrying primary school and kindergarten children with a capacity of over 16 seats have already taken effect in

February.

The department will closely monitor and liaise with the trade if necessary to ensure that the new requirements are carried out properly.

End

Monetary statistics for March 1997

According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, deposits, loans and advances decreased during March 1997.

Table 1 summarises figures for March 1997 and comparisons with earlier

months.

Deposits

Total deposits fell by 1.3% in March, reversing the rise of 2.8% in February. Both HK$ deposits and foreign currency deposits decreased, by 2.2% and 0.1% respectively.

The decline in HK$ deposits was across-the-board, including demand, savings and time deposits.

The fall in time deposits was partly due to the high base of comparison in February, when such deposits were boosted by placements of new share subscription monies before the refund dates.

The fall in foreign currency deposits was due primarily to a decrease of 1.8% in US$ deposits, which more than offset an increase of 1.5% in non-US$ foreign currency deposits.

Loans and Advances

Total loans and advances fell by 2.5% in March, reversing the rise of 2.6% in February.

Domestic credit decreased by 0.6%, as the small rise of 0.1% in loans for trade financing was outweighed by the 0.6% decline in other loans for use in Hong Kong. The fall in the latter was, however, partly the result of the high base of comparison at end-February, which was up-lifted by loans for new share subscription.