as these improve so no doubt will local communist insurance business.
30.
Both banking and insurance in Hong Kong are valuable to the
economy of mainland China and it seems unlikely that the C.P.G. will
In addition,
attempt to use them in any disruptive political manner.
although communist financial manipulations and attempts to undermine
international confidence in the Hong Kong dollar could present a serious
threat to the Colony, the effects this would have also on communist owned
interests would seem to make such action unlikely. Nevertheless through
the granting or withholding of favourable terms to local businessmen
communist banks and insurance companies are capable of exerting a unique
influence over a wide section of the community and one which it is most
difficult, if not impossible, to counter or impede.
SPORTS AND MISCELLANEOUS ACTIVITIES
31.
Like every other aspect of social activity, sports and athletics
are used by the communists for their own ends namely as a facet of United
Front work and attempts have been made to regain their pre-confrontation
influence in these fields. The communist dominated Happy Valley Football
Association, which withdrew its membership from the Hong Kong Football
Association in 1967 because of the latter's pro-Government stand, has now
rejoined the association and is rapidly recovering its former stature by
the acquisition of "neutral" star players. Similarly communist schools
have once again started to take part in Education Department sponsored
sports competitions in an attempt to regain the position of influence they
held prior to 1967.
32.
There has been a gradual resuscitation of other associations
which are under communist control but the most significant revival has
been in the Chinese Reform Association, the largest such organisation
under communist control which has now recovered some 50% of its pre-
confrontation membership by instituting a programme of social functions
/and......
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