X
8. You also mention the money going into
Hong Kong via the Commonwealth Development
Corporation.
I understand that the Corpora-
tion has only one project at present in the
Some
Colony (the loan to, and small shares in, the
Building and Loan Agency). There is also the
possibility that the Corporation may invest up
to £2 million in the container terminal
project. But both these projects are
commercial enterprises and not, there-
fore in the same category as the proposal to
make a grant.
9.
What I am seeking is a gesture which
would demonstrate to the Unofficial Members
of the Executive and Legislative Councils
that we do care about Hong Kong. I believe
that the psychological effect of the proposed
grant would be out of all proportion to the
comparatively small sum involved.
10. This leads me to my last point, namely,
that if we ignore Tang's suggestion which was
made in the presence of the leaders of Hong
Kong business and industry, those leaders
are bound to take our refusal to follow up
the suggestion as yet a further example of
our lack of interest in Hong Kong, even to the
we would be in their eyes be primarily
When
extent of helping ourselves in the process
of helping the Colony. This in turn would
be bound to colour local attitudes towards
Britain and might well create prejudice against
the award of contracts to British firms.
do hope 11. In all the circumstances I treat that
you will find it possible on reconsideration
to agree to make the £400,000 available to
Hong Kong in the matter I have suggested.
D
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