13
37.
Public sector expenditure in 1984-85 is thus likely to constitute slightly less than 17.5% of the revised gross domestic product forecast, as compared with the original budget estimate of 18.3%.
38.
A very large part of this expenditure goes into
our investment in the future of the territory, that is expenditure on the physical infrastructure of our new towns, on transportation, on housing and all those other facilities on which our social progress depends: schools, hospitals, clinics and the like. Total expenditure on capital works
amounted
and to $12 billion dollars
a similar
investment is forecast for this financial year. of this $4.1 billion is expected to be spent on public rental housing and the Home Ownership Scheme.
last
39.
year
(c) Regulation of the Financial Sector
In the space of a decade, Hong Kong has emerged as the leading
leading financial centre of the Far East. However, recent events have under-lined the need to guard our reputation through a process of careful regulation.
This we
are doing.
40.
The Companies (Amendment) Ordinance, enacted in January, came into force at the end of August and a Standing Committee on Company Law Reform was established to ensure that our legislation keeps
with pace
developments. In
conjunction with the Securities Commission, it will also advise on the reform of the Securities Ordinance and the
Protection of Investors Ordinance.
41.
During the year, the provisions of the Insurance Companies Ordinance came fully into effect, and the Insurance Advisory Committee
was
established
to
implementation and to keep the law under review.
in
assist
One of its
/major
...
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