TNAG-1483-FCO40-2037-Economic-situation-in-Hong-Kong-1986 — Page 172

9

15.

the

The development of industry must be led by

I therefore welcome the

private sector.

initiative of the Hong Kong Association of Banks in

addressing the subject of risk assessment of

industrial loans and the availability

of venture

capital. I have also observed with interest the

suggestions made that there be established in Hong

Kong an unlisted securities market for some industrial

concerns possibly not yet ready for full listing. A

coming together of financial services and industry

would, in my view, be wholly constructive.

1

16.

economy.

economic

$

Let me now turn to the performance of the

As security analysts are familiar with

limitations to which such

forecasting, the

forecasts are inevitably subject require no

amplification from me.

Tables giving full details of

the revised GDP forecast are appended to the printed

version of this speech. Unless otherwise stated, the

growth rates quoted are in real terms.

17.

First the trade figures. Domestic exports

have staged a strong recovery since March. A growth

rate of 14% was recorded in the second quarter; and

for the first half as a whole the growth rate was 8%.

/Domestic