6 -
importance and protects our public. We have therefore enacted ordinances
progressively to regulate banking, securities, deposit taking companies and
commodity trading. Much has also been done to strengthen our companies
legislation particularly that dealing with prospectuses and company accounts.
During the coming session further bills are expected to be introduced
to give effect to more recommendations of the Companies Law Revision Committee.
A bill involving a major revision and consolidation of our insurance law should
-be presented before long. Consideration is being given to the difficult problem
of curbing insider trading on which both the Government and Hon. Members now
realise action is overdue.
Protection of Trade
The Government has also the very important duty of protecting industry's
access to overseas markets. This the Commerce and Industry Department will
continue to do to the best of its very considerable ability. I should also like to
record this Government's thanks for the unfailing support of the British Government
and its missions in helping to protect our trading rights.
N
Promotion of Investment
'
Finally, in concert with the Trade Development Council and the General
Chamber of Commerce, the Department of Commerce and Industry will continue
to promote overseas investment to expand and diversify our industry.
Summary of economic situation
In concluding this section on our prospects and policies in the economic
and financial field, I can say with confidence that unpredictable external economic
convulsions apart, our prospects are once more good, and that we may face the
social problems of Hong Kong without fear that our reasonable plans to solve
Page 165Page 166
No comments yet.
Private notes are available after approval.