questioned by a French bank considering investing in the New Territories and he had, of course, simply relied on the formula used by Vice-Premier Deng. It remained, however, his belief that the problem would not be solved simply on the basis of general assurances. Accountants and lawyers looked at hard facts like the length of a land lease. This was why we had put forward our
proposals.
This had been done between friends. Between
That being so
friends it had been deemed unsuitable. we would not take that proposal further for the moment in any case it was no doubt being discussed in London. But he hoped Mr Wang would reflect on it and on the reasons why we had made it. The problem was not one of immediate urgency. If Mr Wang was right in his analysis, nothing more might need to be said. But if his own view was right it would become very clear that something further needed to be done within the next few years.
6.
Meanwhile this was not a problem which we wished to see aired openly (e.g. in the press or LegCo). Within the Government those who knew the details of what had been discussed were limited to those round the table plus the Chief Secretary and Financial Secretary. He wanted to keep it that way. Mr Wang agreed.
Political Adviser's Office, HONG KONG.
3.
Page 60Page 61