Issued by Hong Kong Special Administrative Region Government Information Services
Garden Road, 5th-8th Floors, Murray Building, Hong Kong. Tel: 2842 8777
Tuesday, March 10, 1998
CONTENTS
========
1. FS's transcript
2. SARG has good record on human rights
3. Renewal of Star Ferry's franchise
4. CE reassures German business on HK economy
5. CE buoyed by German interest in Hong Kong
6. FS: High productivity is our competitive edge
7. Public consultations on implementation of two human rights covenants
8. SAR joins Chinese delegation in UN commission on drugs
9. Health order on restaurant complied
10. Hong Kong means business
11. Results of sale of government quarters
12. VMs and VIIs depart on orderly repatriation flights
13. Monitors' report submitted to CS
14. Ad Hoc Committee to discuss housing for the elderly
15. Marine life centre to be built at Hoi Ha Wan
16. Hong Kong Monetary Authority tender results
1. FS's transcript
***************
Following is a transcript of the Financial Secretary,
Mr Donald Tsang, with the media before attending the
Federation of Hong Kong Industries' dinner tonight
(Tuesday):
Financial Secretary: I have heard earlier today that a
number of Legislative Councillors had expressed strong
reservation about my proposals on some adjustments to
dutiable commodities.
In proposing this adjustment which after all is a
very minor adjustment of six per cent, which my colleague
and I had thought very carefully about it. There are only
a few items involved, the adjustment is only six per cent
which is consistent with the inflation of one year. In
the case of diesel oil, for instance, there has been no
adjustment for two years. The adjustment to fuel is
important, not only for revenue protection purposes but it
is also important for transport regulatory purposes and it
is also a very important environmental protection measure.
So I hope very much that Provisional Legislative
Councillors would consider very carefully before they take
any measure to stop these proposals going forward.
There is also an adjustment to the duty on methyl
alcohol. I must emphasise that I am talking about methyl
alcohol. This is not an edible commodity, it is a
poisonous stuff which had been used before for adulterated
consumable alcohol and it had caused blindness and death
in certain circumstances. Recently, there were some very
serious cases of methyl alcohol poisoning in Mainland
China. We must remember this is part and partial of the
regulatory regime and I hope Legislative Councillors would
think very seriously before they block this minor
adjustment going forward.
There is a third element which I gathered had also
received some resistance. That is in the case of aviation
fuel. Again, we are not talking about fuel consumed by
commercial aircraft. This is a very specialised fuel,
used by pleasure aircraft, those small aircraft for
sporting purposes in Hong Kong. So we are talking about a
very minority, a very well to do people, engaged in a very
expensive sport.
So I do not think these measures would have a very
serious impact on the economy at all. For that reason, my
colleagues and I would continue to do our very best to put
our case forward and explain the purposes behind this
adjustment to Legislative Councillors and hopefully they
would withdraw their objections to these proposals which I
asked for are very rational, very well thought through and
at the same time, are the only items for adjustment in the
entire package. And if at the end of the day, I would not
be able to get their agreement, I would have to consider
the revenue implications to see whether or not I would
have to withdraw some of the concessions that I've made in
order to compensate for this loss. Thank you very much.
End
2. SARG has good record on human rights
************************************
Commenting on criticism published today (Tuesday) on
Hong Kong's human rights record, the Hong Kong Special
Administrative Region Government (SARG) rejected claims
that the human rights of Hong Kong people had been eroded
since the handover last July.
The Secretary for Home Affairs, Mr David Lan, said
that the protection of human rights and press freedom
under the terms of the Basic Law had been a priority issue
for the SARG since its inception.
"The proof is there for all to see in the way that
the political process has continued to function freely,
vigorously and openly and in the way the media has
robustly exercised its role in reflecting the diverse
views of this multi-faceted community," Mr Lan said. "We
have a very good human rights record in Hong Kong, and we
intend to keep it that way. The community would expect us
to do no less."
Mr Lan added: "Political protest is alive and well in
Hong Kong. So is press freedom."
He pointed out that there had been over 1,000
demonstrations and public protests since the handover.
They had been policed in exactly the same way as they had
prior to the change of sovereignty. "Demonstrations are a
daily event in Hong Kong. They are part of our political
culture, just as they are in other free societies," Mr Lan
said.
He also pointed to the recent public debate on the
role of the Government funded broadcaster RTHK. He noted
that the editorial independence of the station had been
reaffirmed by the Chief Executive, Mr Tung Chee Hwa.
Chinese leaders had also reaffirmed the Basic Law's
protection of press freedom in Hong Kong.
Dealing with the Basic Law requirement for
legislation covering treason, sedition, secession and
subversion, a government spokesman said it was completely
premature to speculate on what form such legislation might
take. As already stated by Mr Tung, the Hong Kong public
would be consulted on this important issue and any
resultant legislation would not be introduced until the
first SAR legislature had been elected by the Hong Kong
people on May 24.
Mr Lan added that a record number of Hong Kong people
had already registered to vote in the May elections which,
he said, would be fair and open and would return a
legislature representative of all sectors of the
community.
He said it was understandable that the local and
international community should be interested in the
question of human rights in Hong Kong.
Mr Lan emphasised that the protection of Hong Kong
people's human rights and civil liberties had been
entrenched in the Basic Law through the application of the
International Covenants on Civil and Political Rights and
on Economic, Social and Cultural Rights. "The SAR
Government is committed to abiding by these constitutional
obligations," he said. "And, as we announced earlier
today, the Beijing authorities have informed the United
Nations that the HKSAR will be in a position to submit its
first reports under the two Covenants in August this year.
We are seeking public input into the preparation of these
reports."
Finally, he pointed out that President Jiang Zemin
had only yesterday at the NPC meeting in Beijing stressed
the Central Government's commitment to faithful
implementation of the "One Country Two Systems, Hong Kong
People Ruling Hong Kong" concept. The President had asked
the Hong Kong deputies to the NPC not to interfere in SARG
affairs.
End
3. Renewal of Star Ferry's franchise
*********************************
In response to media enquiries today (Tuesday) about
the renewal of Star Ferry's franchise, a government
spokesman said:
"Star Ferry's current franchise will expire on March
31, 1998. With the agreement of the Chief Executive in
Council, the Administration has been negotiating with Star
Ferry the terms of a new franchise.
"Details of the new franchise will be subject to
ExCo's approval, which will be sought shortly."
End
4. CE reassures German business on HK economy
******************************************
German business leaders have been urged by the Chief
Executive, Mr Tung Chee Hwa, to maintain their faith in
the fundamental strengths of the Hong Kong economy during
the current financial troubles besetting Asia.
In a keynote luncheon address today (Tuesday, Hong
Kong Time) to business, financial and political leaders in
the German bourse city of Frankfurt, Mr Tung stressed that
not all Asian economies were the same.
He said economies such as those in Hong Kong and
Singapore, with free markets, strong regulations, the rule
of law and stringent fiscal discipline had passed the test
of fire.
Economies such as China with credible policies and
low leverage had also weathered the storm.
"The tidal wave that swept Asia has been devastating,
and has sent ripples across the globe. But I must
emphasise that Asian economies are not all the same,"
Mr Tung said at the luncheon organised by the Hong Kong
Trade Development Council.
Mr Tung listed six main conditions which would have
to be met on the slow but sure road to recovery for the
region.
"First, there are clear signs that the Asian
economies are generating trade surpluses, instead of trade
deficits," he said.
"Second, the financial situation in Korea has
stabilised because the world finally realised that
financial crises cannot be solved by official funds alone,
but a combination of IMF funding and conditionality, plus
voluntary rollovers provided by international banking
institutions. This appears to be the right way forward.
"Third, as the largest economy and financial
powerhouse in Asia, Japan must maintain positive growth
and stability in the yen.
"Fourth, the international financial and economic
environment must remain stable. Both American and
European stock markets are now reaching record highs, and
everyone hopes there will not be further shocks emanating
from the large markets on the smaller emerging markets.
"Fifth, both mainland China and Hong Kong will
maintain stability in the Renminbi and Hong Kong Dollar as
the anchors of currency stability in Asia.
"Finally, Asian economies must maintain their resolve
and determination to restructure and reform with the help
of the IMF and other multilateral agencies."
Mr Tung said that throughout the Asian financial
turmoil, there was now greater recognition in Asia that
global financial markets had changed the world, and that
there was a need for more balanced growth, with better
risk management.
Better banks, more efficient financial markets, and
greater transparency and disclosure for markets were also
needed, he said.
"The financial crisis in Asia has been painful to us
all," he said.
"But the fundamentals of Asia have not been changed.
We still have the young and flexible workforce, the high
savings rate, openness to trade and ideas and an
indomitable will to improve ourselves.
"Some glaring uncertainties still need to be
resolved, but I would expect the Asian crisis to bottom
out in a year or two and we shall then witness a slow but
sure road to recovery.
Mr Tung also assured the lunch guests that Hong Kong
Dollar link to the US Dollar would remain and that the
Hong Kong Dollar did not need to be devalued to boost
competitiveness.
"The fact is that close to 85 per cent of our GDP is
generated by the services sector," he said.
"In that, competitiveness is not just about the cost
but about other important factors, such as the need for
the rule of law, a corruption free society and predictable
government policies which put investors, local and
international alike, as ease.
"Competitiveness is also about the quality and
creativity of the people. In these areas, what we have in
Hong Kong, few others in Asia can match."
He said that since 1983 Hong Kong's currency board
system had provided full US Dollar backing for the
currency.
In the recent round of attacks, on the Hong Kong
Dollar, the currency board system had proven to be most
effective, he said.
"Thanks to prudent fiscal management, at the end of
1997, Hong Kong's foreign reserves, which include our
'fiscal reserve', stood at US$92.8 billion - the third
largest in the world," he said.
"These huge reserves provide not just 100 per cent
backing, not just 200 per cent backing, but 800 per cent
backing for the currency.
"The stability of the Hong Kong Dollar has been a
pillar of strength in Asia and has been described as
"...the dam that prevents Asia's crisis from inundating
other emerging markets and possibly even the world's major
ones".
"We perform this role not just for our neighbours,
but because we believe it is the right thing to do for
Hong Kong."
During the speech, Mr Tung also spoke about the
smooth transition of Hong Kong since the Handover, the
development of Hong Kong's political system under the
Basic Law, China's continued economic growth and the
substantial bilateral trade ties between Hong Kong and
Germany.
End
5. CE buoyed by German interest in Hong Kong
*****************************************
German political and business leaders have expressed
a tremendous interest in the future prospects of Hong Kong
and China, the Chief Executive Mr Tung Chee Hwa said after
his first day of meetings in the federal capital Bonn
today (Monday, Bonn time).
During a full day's programme - which included calls
on the German Chancellor Helmut Kohl, meetings with
several key political leaders and talks with influential
think-tanks - Mr Tung said he was heartened by the
importance the Germans had placed on maintaining and
developing links with Hong Kong and China.
The impact on Hong Kong of the current financial
turmoil in Asia, Hong Kong's linked exchange rate system,
the economic development of Hong Kong and China and the
relationship between Hong Kong and the Central People's
Government were discussed.
During all of his meetings, Mr Tung stressed the
underlying differences between Hong Kong and other Asian
countries badly hit by the financial turmoil. The Hong
Kong 'advantages', he said, included an unswerving
commitment to free and open trade, well-regulated
financial markets and the rule of law.
He said that while the financial turmoil had forced
other countries to cut back on infrastructure and social
programmes, Hong Kong's excellent finances - with fiscal
reserves of more than HK$450 billion - were allowing it to
push ahead with massive investments.
"We are not derailed from our path in realising our
long-term vision for a competitive and inducing
environment for sustainable development, as laid down in
the Policy Address last October," he said.
He pointed out that Hong Kong would spend some HK$235
billion over the next four and a half years on such areas
as housing, education, transport and information
technology.
"We not only have the determination and the will to
move ahead, we also have the ability to do so," Mr Tung
said.
Mr Tung told his hosts that far from withdrawing from
Hong Kong - and Asia - German companies should now be
looking for investment opportunities in the region.
He said that the fundamentals which made the region
tick were still there, including a hard-working labour
force, high savings rates and free trade regimes which
facilitated the transfer of technology.
He was especially encouraged to hear during his
meetings with German political leaders that Hong Kong's
recent asset price adjustments had brought prices to a
more reasonable level and this stabilised confidence
within the German business community in the future of the
SAR.
"These were necessary adjustments. The property
market and the stock market overheated and were hurting
our competitiveness," said Mr Tung.
"There will be some short-term pain but it will be
better for Hong Kong in the long-term and I think those to
whom I spoke with in Germany could understand and
appreciate this point.
"I asked them not to lose confidence in Hong Kong,
not to lose confidence in Asia, and I told them I was
confident that there was plenty of opportunities in Hong
Kong and China and the region as a whole once the turmoil
was over."
The Chief Executive said he had an 'engaging and
interesting' discussion with Chancellor Kohl about 'how
the 21st Century world would be'.
Mr Tung said he told Mr Kohl that Hong Kong's linked
exchange rate and currency board system would stay and
that he hoped there were ways to further strengthen the
commercial relationship between Hong Kong and Germany.
He said Mr Kohl had promised to look at the issue of
visa-free access for HKSAR passport holders to Germany and
other Schengen States.
A spokesman for Mr Kohl's office said the Federal
Chancellor was satisfied with the smooth transfer of
sovereignty to China and emphasised that as part of China,
Hong Kong remained an important partner for Germany.
The spokesman said Mr Kohl was optimistic that Hong
Kong, thanks to its healthy economic structure and well-
regulated financial market, would be able to successfully
cope with the consequences of the current situation in
some countries in the Asian region.
During the day Mr Tung also met the President of the
Federal Parliament (Bundestag) Professor Dr Rita Sussmuth
and the Christian Social Union chairman and Federal
Minister of Finance Dr Theodor Waigel.
The Chief Executive attended a lunch hosted by the
German State Minister for Foreign Affairs, Mr Helmut
Shafer, met Secretary of State of Federal Ministry for
Economics Dr Lorenz Schomerus and attended a dinner
jointly hosted by the Asia-Pacific Committee Association,
the Federation of German Industry, Association of German
Chambers of Industry and Commerce and the East Asia
Association.
He also had useful and broad ranging discussions with
two influential think-tanks - the Konrad Adenauer
Foundation and the Friedrich-Ebert Foundation - both of
which expressed a wish to strengthen their research on,
and contacts in, Hong Kong.
Later today, Mr Tung will meet Federal Vice-
Chancellor and Minister of Foreign Affairs Klaus Kinkel as
well as Free Democratic Party chairman Dr Wolfgang Gerhard
before leaving by helicopter for Frankfurt.
In Frankfurt, the German financial hub and home to
Europe's second largest stock exchange, Mr Tung will
deliver the keynote address at a luncheon organised by the
Hong Kong Trade Development Council (HKTDC) and meet
European Monetary Institute president Dr Willem
Duisenberg.
Early tomorrow (Wednesday, HK time) he will meet
Frankfurt Stock Exchange chief executive officer Dr Werner
Seifert and attend a dinner with Germany's leading
bankers.
End
6. FS: High productivity is our competitive edge
*********************************************
The Financial Secretary, Mr Donald Tsang, said today
(Tuesday) that the average increases of 13.7 per cent a
year in productivity set Hong Kong apart from most of our
regional competitors.
While addressing the Federation of Hong Kong
Industries at their Annual Dinner, Mr Tsang said: "The
year in, year out increases in productivity that the
industries of Hong Kong achieve are one of the most
important contributions to the health of our economy and
to the living standards of our community."
In his speech Mr Tsang corrected a common
misconception which suggested that the importance of
manufacturing industries was on the decline. He pointed
out that although manufacturing's contribution to the GDP
had fallen from 23 per cent in 1980 to seven per cent in
1996, the real money that manufacturing generated had
increased from $31 billion in 1980 to $80 billion in 1996.
Putting the discussion of the importance of
manufacturing in context, Mr Tsang said that one needed to
be aware of the change in the nature of industry in Hong
Kong.
"Many functions that used to be performed in-house
have been farmed out, but statisticians' definitions have
hardly changed. So, much of what used to be counted as
manufacturing is now called services," he said.
Commenting on the understanding of some buzz-phrases
such as "high value added" and "high tech", Mr Tsang
illustrated with examples and said that "high value added"
did not necessarily equate with "high tech". He
emphasised that what was really important for Hong Kong
was productivity.
In elaboration of the Government's industrial policy
which set to achieve maximum support and minimum
intervention, Mr Tsang said the Government was determined
to act vigorously and consistently to ensure that
industrialists have an environment in which they could
maintain vital gains in productivity.
"There is a tremendous amount to do to improve the
quality of education. We have massive programmes to
upgrade the infrastructure of the territory to make
movement of goods and people easier. We are working hard
to improve the framework for telecommunications," he said.
Other government efforts included the development of
industrial estates, science park, industry technology
centres and support of various productivity enhancement
programmes.
Mr Tsang also reiterated the Government's support of
applied research and development, new technology training
and credit guarantees for small and medium enterprises.
"Our system affords to everyone protection of the
fruits of their enterprise and effort; give to everyone
the responsibility of free citizens; recognises that by
doing so this city stands to be invigorated by each
citizen in return.
"It is a free market, operating in a free society,
grounded in the rule of law. We tax you lightly; we don't
tell you what to do; we do everything we can to take way
any obstacle to your opportunity," Mr Tsang said.
End
7. Public consultations on implementation of two human rights covenants
********************************************************************
The Government is now inviting public views on the
state of implementation of the two human rights covenants
- the International Covenant on Economic, Social and
Cultural Rights (ICESCR) and the International Covenant on
Civil and Political Rights (ICCPR) - in the Hong Kong
Special Administrative Region (HKSAR).
A Home Affairs Bureau spokesman said that the Central
People's Government of the People's Republic of China has
informed the United Nations that the HKSAR will be in a
position to submit its first reports under the two
Covenants in August this year.
The spokesman said that the timing of the submission
was most appropriate, as it would provide the
international community with a clear and complete picture
of the implementation of the Covenants in the territory in
the first year after reunification.
In line with established practice, the Government is
seeking public views before the reports are written. To
facilitate public comments on the wide range of issues
covered by the two Covenants, the Government has prepared
draft outlines for both reports.
"To ensure timely submission, we are asking people to
comment by April 15," the spokesman said.
Members of the public who would like to express their
views can write to the Secretary for Home Affairs, Home
Affairs Bureau, 31st floor, Southorn Centre, Wanchai, Hong
Kong.
Copies of the draft outlines of the two reports can
be obtained from the Bureau and the Marketing Office of
the Information Services Department on 17th floor, Siu On
Centre, 176-192, Lockhart Road, Wanchai, Hong Kong.
The outlines are also available on the HAB Homepage,
(http://www.info.gov.hk/hab) on the Internet.
End
8. SAR joins Chinese delegation in UN commission on drugs
******************************************************
The Principal Assistant Secretary (Narcotics) of the
Narcotics Division, Miss Cathy Chu, will attend the 41st
session of the United Nations Commission on Narcotic Drugs
in Vienna as a member of the delegation of the People's
Republic of China.
The session will take place in two segments from
March 11 to 20.
The regular segment will be held from March 11 to 13
during which the Commission on Narcotic Drugs will perform
its role as a functional commission of the Economic and
Social Council of the United Nations.
During the March 16 to 20 special segment, the
commission will act as a preparatory body for the special
session of the General Assembly on international drug
control to be convened in June 1998.
The commission will deliberate preparations for the
special session of the General Assembly to consider the
fight against the illicit production, sale, demand,
traffic and distribution of narcotic drugs and
psychotropic substances and to propose new strategies,
methods, practical activities and specific measures to
strengthen international co-operation in addressing the
problem of drug abuse and illicit trafficking.
The commission will also consider the draft
declaration on the guiding principles of demand reduction
and review international drug control regime so as to
strengthen the United Nations machinery for drug control.
End
9. Health order on restaurant complied
***********************************
The Department of Health today (Tuesday) confirmed
that the licensed food premises in Causeway Bay, which was
found to be the source of infection of three symptomatic
cholera cases, had disinfected, disinsected and deratted
to the satisfaction of the Health Officer.
The restaurant was ordered last Friday to be
disinfected, disinsected and deratted by the Department
under the Prevention of the Spread of Infectious Diseases
Regulations, (Cap 141) after it was identified as the
source of the cholera case involving a 27-year-old female
patient.
Two more cholera cases were subsequently confirmed
last Saturday to be associated with this restaurant.
A department spokesman said: "The Health Officer
inspected the restaurant yesterday and found that
disinfection, disinsecting and deratting had been
conducted to his satisfaction.
"However, the restaurant operator was reminded that
his staff should observe personal hygiene, environmental
hygiene and food hygiene in conducting the business."
A letter confirming the Health Officer's satisfaction
was delivered by hand to the restaurant last evening, the
spokesman added.
End
10. Hong Kong means business
************************
Hong Kong's economy will emerge stronger from the
Asian financial turmoil and prove to the world that it
continues to be a most reliable trading partner and the
best place for business, the Principal Hong Kong Economic
and Trade Representative in Tokyo, Mr Paul Leung, said
today (Tuesday).
Mr Leung was speaking at a business seminar in Nagoya
jointly organised by the Hong Kong Economic and Trade
Office, the Trade Development Council and Hong Kong
Tourist Association. Some 300 prominent business leaders
and journalists were in attendance.
Mr Leung said Hong Kong had been swept up in the
Asian financial crisis but it was riding out the economic
storm well. The Hong Kong dollar, with its link to the US
dollar, is increasingly seen as a pillar of stability in
the financial markets in the Region.
"We are facing short term pains such as higher
interest rates and asset prices deflation but Hong Kong's
highly flexible service based economy and its robust
financial system will enable it to be among the first to
emerge from the crisis," he said.
Highlighting the SAR's first budget, Mr Leung said
Hong Kong already had the world's most business-friendly
tax regime. "There are no capital gains tax or
withholding taxes on dividends or interest. Nor are there
any value added or sales taxes. And only income sourced
in Hong Kong is taxable."
Mr Leung pointed out that with the Financial
Secretary's new budget Hong Kong would be even more
attractive to local and foreign investors alike.
Corporate Profits Tax has been reduced to 16 per cent from
16.5 per cent. The scope for tax deduction for
expenditure on research and development has been
substantially widened. The network of international
agreements to avoid double taxation will be further
widened.
"But the Budget is not only for business. The tax
burden on individuals has been substantially reduced.
There will also be substantial expenditure to meet the
SARG's strategic policy objectives in respect of housing,
education and social services, especially care for the
elderly," he went on.
Summing up the budget package, Mr Leung said that it
would sharpen Hong Kong's competitive edge and emphasize
that Hong Kong's business environment and tax system are
second to none.
"Hong Kong can well afford these tax concessions and
spending plans. And the themes that emerge most strongly
from the Financial Secretary's speech are that Hong Kong's
tradition of prudent fiscal policies is being maintained
and that our open, liberal approach to economic
development is being upheld," he added.
Mr Leung also highlighted the strong links between
Hong Kong and Japan, noting that Japan was Hong Kong's
third largest trading partner, the third largest foreign
investor overall, and the number one investor in Hong
Kong's manufacturing industries.
"Japan is a lead partner in Hong Kong's
infrastructure projects, including our new airport which
will open on July 6. Japanese companies have an even
greater role to play in Hong Kong's huge programme of
infrastructure development costing HK$235 billion in the
next five years," he said.
Mr Leung also gave an overview on the developments in
Hong Kong since its historic reunification with China on
July 1 last year. He said the pillars of Hong Kong's
success: the rule of law, the level playing field, free
market economy and free flow of information were as strong
as ever.
End
11. Results of sale of government quarters
**************************************
The Government Property Agency announced the results
of the recent sale of surplus government quarters.
Of the 120 Baguio Villa flats on offer, 36 were taken
up by the close of play on March 10. The remaining 84
flats will continue to be available to buyers at the
prices advertised, until the end of the month, on a first-
come first-served basis.
On the tendering exercise involving the 37 flats at
various locations, the Agency received 34 valid tenders.
As 25 of these tenders were in respect of four units in
Wilshire Tower, only eight flats were actually sold. The
particulars are -
Two flats sold out of 28 advertised for Caldecott
Road
Four flats sold out of seven advertised for Wilshire
Tower
one flat sold out of one advertised for Unicorn
Garden
one flat sold out of one advertised for Macdonnell
House
The flats left over from this exercise will be re-
offered with the next batch of 55 units, in a tender
exercise which will be announced later in the month.
The total revenue from the sale of the 44 flats
amounts to $449 million.
End
12. VMs and VIIs depart on orderly repatriation flights
***************************************************
A group of 274 Vietnamese (including 248 illegal
immigrants and 26 migrants) returned by air to Hanoi,
Vietnam, today (Tuesday) on the 113th and 114th flights
under the Orderly Repatriation Programme (ORP).
The returnees comprise 220 men, 36 women, 11 boys and
seven girls.
The majority of them arrived in Hong Kong in 1997,
with the remaining in 1989, 1990, 1991, 1995 and 1996.
The group brought to 11,860 the total number
repatriated on ORP flights since October 1991.
End
13. Monitors' report submitted to CS
********************************
The monitors appointed to observe the Orderly
Repatriation Programme operation this morning (Tuesday)
have submitted their report to the Chief Secretary for
Administration today.
The two monitors comprised one non-official Justice
of the Peace, Mr Chow Chun-fai; and representative from a
non-government organization, Miss Maranda Wong from Oxfam.
End
14. Ad Hoc Committee to discuss housing for the elderly
***************************************************
The Ad Hoc Committee on Housing and Residential Care
of the Elderly Commission will meet this Thursday (March
12) afternoon to discuss the Housing Society's Senior
Citizen Residence Scheme, the Bought Place Scheme review,
and the public and private homes for the elderly.
The meeting will be chaired by Mr Moses Cheng.
End
15. Marine life centre to be built at Hoi Ha Wan
********************************************
Endorsement has been given to the World Wide Fund for
Nature Hong Kong (WWF HK) to build a marine life centre at
Hoi Ha Wan Marine Park.
This decision was made at the Country and Marine
Parks Board meeting yesterday (Monday), following careful
consideration on the series of revisions made to the
original location, design and related facilities of the
centre.
After an in-depth discussion, Board members
unanimously accepted the project in principle, with
conditions imposed to govern the project development.
These conditions included the submission of detailed
design and site plans, tree felling proposal and
vegetation survey of the affected areas, landscape
proposals, as well as that of construction plan and
mitigation measures.
The WWF HK would also be required to work with the
Agriculture and Fisheries Department on detailed
arrangements for the management and running of the centre.
As some members showed concern on the possible
environmental impact of the building work, it was agreed
that close monitoring must be stepped up during the
construction period.
During the meeting, the Board also endorsed the
deployment of artificial reefs in Sha Chau and Lung Kwu
Chau Marine Park.
It was expected that the artificial reefs would
increase the biodiversity and marine resources, and
benefit the dolphins by providing food in the area.
Members were also consulted on the draft map of the
proposed Lung Fu Shan Country Park on Hong Kong Island and
they supported the proposal.
This 46 hectares of woodlands, with high conservation
and landscape value, would be designated as country park
in the coming financial year.
In addition, the Board was briefed on the progress in
amending the Country Parks Ordinance.
End
16. Hong Kong Monetary Authority tender results
*******************************************
Tender date : 10 March 1998
Paper on offer : EF Bills
Issue number : Q810
Issue date : 11 March 1998
Maturity date : 10 June 1998
Amount applied : HK$10,990 MN
Amount allotted : HK$2,000 MN
Average yield accepted : 6.70 PCT
Highest yield accepted : 6.75 PCT
Pro rata ratio : About 62 PCT
Average tender yield : 6.87 PCT
- - - - -
Tender date : 10 March 1998
Paper on offer : EF Bills
Issue number : H859
Issue date : 11 March 1998
Maturity date : 9 September 1998
Amount applied : HK$6,450 MN
Amount allotted : HK$1,000 MN
Average yield accepted : 7.31 PCT
Highest yield accepted : 7.35 PCT
Pro rata ratio : About 100 PCT
Average tender yield : 7.52 PCT
- - - - -
Hong Kong Monetary Authority tenders to be held in the
week beginning - March 16, 1998:-
Tender date : 16 March 1998
Paper on offer : EF Notes
Issue number : 5303
Issue date : 17 March 1998
Maturity date : 18 March 2003
Tenor : 5 Years
Amount on offer : HK$500 + 100 MN
Coupon : 8.02 PCT
- - - - -
Tender date : 17 March 1998
Paper on offer : EF Bills
Issue number : Q173
Issue date : 18 March 1998
Maturity date : 15 April 1998
Tenor : 28 Days
Amount on offer : HK$5,000 MN
- - - - -
Tender date : 17 March 1998
Paper on offer : EF Bills
Issue number : Q811
Issue date : 18 March 1998
Maturity date : 17 June 1998
Tenor : 91 Days
Amount on offer : HK$2,000 + 500 MN
- - - - -
Tender date : 17 March 1998
Paper on offer : EF Bills
Issue number : Y887
Issue date : 18 March 1998
Maturity date : 17 March 1999
Tenor : 364 Days
Amount on offer : HK$500 + 150 MN
End
