TNAG-1434-FCO40-1917-Hong-Kong-leading-personality-Sir-Yue-Kong-Pao--businessman-1986 — Page 19

CONFIDENTIAL

in

to

the budget

budget forecast of 6% growth in total

exports being revised

8%. The estimate for GDP growth in 1986 of 4.5% has also been

revised upwards to 5.6%.

12.

and share

Exports apart the main economic indicators all suggest that

Hong Kong's economy is performing well. Recent land sa les

flotations have been more successful than expected and the Hang Seng

Index (Stock Market) recently reached an all-time high and continues

to rise. The overall rate of inflation is expected to remain at

around 3% whilst the unemployment rate at 3%, in effect full

employment, is also expected to remain constant.

expenditure during the first half of the year has been close to the

budget estimate, whilst Government revenue has continued to grow.

As a result the budget surplus in 1986-87 is likely to be greater

than originally estimated.

The University of Hong Kong

13.

Government

The University of Hong Kong has grown from modest beginnings

in 1911 to a present student population of over 7,000. It has

faculties of arts, architecture, dentistry, education, engineering,

law, medicine, science and social sciences.

The university's

central estate is on the northwestern slopes of Hong Kong Island.

A11 the faculties, with the exception

of

Education, teach both

undergraduate and postgraduate courses. The Faculty of Education at

present teaches only postgraduates, most of whom are preparing for

the Certificate in Education. The medium of instruction throughout

the University is English, except in the Department of Chinese.

14.

the university

The

are

are

examiners who

Britain and the

Close links are maintained with other universities.

structure of the degrees and the governance of

based mainly on the British system and external

eminent academics in the field, generally from

United States,

States, visit in each subject area at least once every three

and moderate each year's finals papers. Competition for

places at

at the university is intense and in many cases there are five

times the number of applications from qualified candidates as there are places available. The university's academic staff are recruited by international advertisement.

years

CONFIDENTIAL