G.F. 316
SECRET 高度機密
Page No. 2 of 10 pages
3.
A managerial meeting of the Hong Kong Branch of the BOC discussed whether to raise the business targets for 1981 in view of the large volume of business done during 1980. A decision was however, postponed because although there had been a large increase in the amounts deposited a large proportion of these were short term deposits which may not be repeated during the current year. Targets and actual business done during 1980 were:-
Deposits
Target
Actual
HK$238 million
630 million
Loans
Target
Actual
28 million
80 million
4.
A study meeting for the Bank of China's Hong Kong staff has been held to criticise past trends and to present new Chinese objectives. The main criticism was that recent Chinese policies developed too fast, creating high inflation and huge deficits. The main tasks in future are to curb inflation, reduce the national deficit and stabilize commodity prices. It will be necessary to control major construction projects in China which involve large capital outlay, to improve communications and to develop energy
resources.
5.
The Hong Kong incorporated Nanyang Commercial Bank has sent three of its employees to San Francisco to open a branch there when a US banking licence is granted.
Cross-Border Security Matters
6.
The Political Adviser led a delegation including representatives from Security Branch, Immigration Department,
Customs and Excise and the Royal Hong Kong Police to Guangzhou
/from
SECRET 高度機密