TNAG-2127-FCO40-3037-Investment-in-Hong-Kong-1990 — Page 102

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G.F. 326

10

completions are recorded after all work is finished.

For most projects, it is likely that the highest level

of expenditure falls in a year other than that in

which consent is given or that in which the project is

completed.

(b)

Capital expenditure on building and

construction

14.

According to the preliminary quarterly GDP

estimates, overall expenditure on building and

construction decreased by 4% in the first quarter of

1990. Analysed by sector, expenditure on building and

construction by the public sector (including the Mass

Transit Railway Corporation and Kowloon-Canton Railway

Corporation) fell by 3% in the first quarter.

Expenditure by the private sector also fell, by 4%.

Nevertheless, a number of public and private sector

projects are currently in progress, and they should

gradually build up momentum in the near future.

Notable projects in the public sector include the Kwun

Tong Bypass, the New Territories Circular Road

Improvement, the Pamela Youde Hospital, the Hong Kong

University of Science and Technology, and the

development at Tin Shui Wai. As regards the private

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