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New Territories without a fixed term; to convert existing leases

into indeterminate leases; and to take legal steps to enable

British administration to continue after 1997 should the Chinese

(and, of course, the British) Government so wish.

7.

8.

Action since then has been as follows:-

a) 30 March: Governor outlined proposed solution to

Vice Premier Deng Xiaoping. Deng's reaction non-

committal but not negative.

b) 5 July: Ambassador gave detailed explanation to

Chinese Foreign Ministry, stressing that proposed action

entirely consistent with Chinese position and would not

prejudice their future freedom of action.

c) 24 September: Chinese reply given to HM Ambassador.

Proposed legal action described as "unnecessary and

inappropriate".

British Government warned of adverse

consequences should we persist.

In the light of the Chinese reaction we clearly cannot proceed

with the original plan.

9.

Reasons for Chinese response still not entirely clear. But

Chinese seem to believe that general assurances are all that is

needed to maintain investors' confidence, and have evidently

failed to understand the need for action to deal with the short-

term problem posed by the 1997 date in New Territories property

leases. Therefore important to reiterate the point that if

solution we have proposed not acceptable to Chinese another

will have to be found sooner rather than later.

Official Chinese Representation in Hong Kong

10. Chinese Communist Government first raised question of

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