Hong Kong financial secretary sees reserves growing substantially by 1997

Article Abstract:

Hong Kong's financial secretary Hamish Macleod announced during the presentation of Hong Kong's budget for FY 1995-96 that the colony will have 151 billion Hong Kong dollars in fiscal reserves in 1997, when it reverts to Chinese sovereignty. The amount is equivalent to about $19.53 billion and is about 30 billion Hong Kong dollars more than official forecasts made in 1994. The huge surplus was caused mainly by low government spending. Another reason was that more interest was generated from existing fiscal reserves due to higher interest rates.

Public Finance-Total Govt, Public finance

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Hong Kong takes last lap toward China in stride

Article Abstract:

Economic indicators reveal that investor confidence in Hong Kong has remained unaffected by the political threats issued by China concerning its takeover on July 1, 1997. The Hang Seng stock market has risen by 24% as of Oct. 1996, while retail sales, real estate prices and local-currency deposits continue to increase. Financial experts also stress that fund managers have yet to find an alternative financial market to invest in.

Financial markets, Hong Kong-China reunification question

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Tung feels increasing heat as economic woes linger

Article Abstract:

Hong Kong's Tung Chee Hwa is having problems with his popularity as Hong Kong citizens begin to question the style and substance of his economic policies in lew of the economic recession. Hong Kong is looking for leadership as citizens begin to feel that the government is not doing enough to ease the growing ranks of the jobless while others are worried about losing their jobs.

Public Administration, Political aspects, Public opinion, Tung Chee-hwa

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