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The following supersedes GIS980616053 issued at 9.37 pm today (Tuesday). Please note that the name "James Cooke" mentioned in the fourth paragraph from the bottom should read "Captain James Cook".

The revised press release is as follows:

The Chief Executive, Mr Tung Chee Hwa, has today (Tuesday) held a busy round of top-level meetings with Australia's political leaders and business elite in Melbourne.

During the day, Mr Tung held talks with Australia's Prime Minister John Howard, Deputy Prime Minister and Minister for Trade Tim Fischer, Federal Treasurer Peter Costello and Victorian Premier Jeff Kennett.

Mr Tung was the keynote speaker at the Australia Summit, which has attracted about 500 of Australia's business, political and economic leaders and has been billed as 'Australia's most important business event this year'.

During his 30-minute speech, Mr Tung explained how Hong Kong was riding out the Asian financial turmoil and pressing ahead with $235 billion worth of infrastructure developments over the next five years.

Tax cuts and infrastructure developments worth $53 billion over the next year would also stimulate economic activity and ease unemployment, he said.

He said if Hong Kong was to continue to be a leading global financial centre - and to attract the best people to live and work in the SAR - it had to ensure a high quality of life.

"In this respect, better planning, better urban renewal, cleaner and greener environment are areas to which our effort will be directed," he said.

"So despite the turmoil, ladies and gentleman, we are very much focused on the future and because of our financial strength we have the means and the will to do it without departing from our prudent fiscal management philosophy."

During his meeting with Australia's political leaders one recurrent theme was ways in which to improve the use of information technology and to increase co-operation in this field.

The subject was discussed with Mr Howard, Mr Fischer and Victoria's Premier Kennett.

Following the meetings, it was announced that Hong Kong and Australia would sign a Memorandum of Understanding (MoU) on information technology, to be signed on June 22 in Canberra by the Secretary for Information Technology and Broadcasting Kwong Ki-chi.

Mr Tung said he was delighted about the MoU because it will help Hong Kong to maintain its lead in the information technology field and foster growth of the industry by tapping into Australian expertise and experience.

Hong Kong's massive infrastructure programme and the opening of the new international airport next month were particular areas of interest for Mr Fischer.

Airline industry leaders in Australia had told Mr Fischer tonight that with the new airport's 24-hour operation, Hong Kong would be an even more attractive destination for Australians en route to, or returning from, Europe.

In his meeting with Mr Howard, the Chief Executive exchanged views on the Asian financial turmoil and how to foster closer Australia-Hong Kong ties.

Mr Tung also raised the subject of travel convenience for HKSAR Passport holders, in particular the issuing of an 'electronic travel authority' (ETA) (electronic visa) which would make travel easier for Hong Kong citizens.

Mr Howard said he would give further consideration to the matter. (Under Australia's immigration laws, national from all countries except New Zealand require a visa to enter the country.)

The Chief Executive said he was impressed with a presentation by the Victorian State Government on its IT strategy, in particular the electronic delivery of government services such as bill payments and the updating of personal information.

This afternoon, during a quick break in his busy schedule, Mr Tung joined Australia's Consulate-General to Hong Kong, Ms Sue Boyd, for a brisk walk around Melbourne's lovely Treasury Gardens.

Mr Tung and Ms Boyd were joined by a group of Hong Kong reporters who took in the cool, fresh air as well as visited the reconstructed cottage of Captain James Cook, the British explorer who discovered the east coast of Australia in 1770 and laid the foundations for British settlement of the country.

Tonight, Mr Tung met Australia's Federal Treasurer Peter Costello before attending a dinner in his honour hosted by Tim Fischer.

Tomorrow (Wednesday) Mr Tung starts his day with an early-morning breakfast meeting with business CEOs before boarding a flight to Auckland, where he will deliver the keynote address at another high-power business conference Asia 2000.

The Chief Executive has another full day of political calls lined up on Thursday, which includes a meeting with New Zealand Prime Minster Jenny Shipley.

Photo: The Chief Executive, Mr Tung Chee Hwa, meets Australian Prime Minister, John Howard, in Melbourne.

Ends/Tuesday, June 16, 1998

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