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PP TC HONG KONG
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FM DOT 161778 Z
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CONFIDENTIAL
TO PRIORITY 3TC HONG KONG TELNO CREDA 355 OF 16 NOVEMBER
CHINESE MINISTER OF TRADE ARRIVES IN UK ON 23 NOVEMBER: WE SHALL NEED
TO BRIEF MINISTERS AT OUT SIR LAWRENCE'S SUGGESTION OF A UK MINKS MACHINERY/CHINESE COAL DEAL. OUR VIEW IS THAT POWER STATION DID WILL,
IN THE LAST RESORT, DE JUDGED COMMERCIALLY AND ANY MINING MACHINERY DEAL SHOULD BE ON A STRICTLY COMERCIAL DASIS - HETHER IT IS ARRANGE VIA CLP OR AS AN INDEPENDENT UK/CHINA DEAL.
2. RATEFUL IF YOU WOULD SPEAK INFORMALLY TO SIR LAURENCE ABOUT
HOW HE SEES THE FINANCIAL ASPECTS OF HIS SUGGESTION WORKING OUT IN
PRACTICE. HE APPEARS TO ENVISAGE AN ARRANGEMENT INVOLVING DEFERRED
PAYMENTS BY THE CHINESE - IS THE EARLY SUPPLY OF UK MACHINERY TO BE
PAID FOR LATER BY SALES OF COAL TO CLP: WE WOULD LIKE TO KNOW IN MORE DETAIL WHAT HE HAS IN HIND. PLEASE ENSURE SIR LAWRENCE DOES NOT
GAIN IMPRESSION THAT HNG WILL MAKE ANY UNIQUE ARRANCEMENTS FOR
FINANCING UK MINING MACHINERY EXPORTERS WHILE CLP WAIT FOR PAYMENT
DY WAY OF COAL.