G.F. 316
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Page No. 3 of 12 pages
Refresher Courses for NCNA Cadres
7.
The recently revived Party schools in China have been
admitting cadres from Hong Kong to their courses.
Two medium
level NCNA officials, HE Mingsi and HAN Li. have recently
completed a five months' course and two others, TAM Kan and LI
Zhong, have started on a new one. The revival of the schools appears to be part of a long term programme aimed at the ideological regeneration of the Party, necessitated by the prevailing mood of pessimism and uncertainty
rife in Hong Kong as elsewhere.
which is as
Banking and Finance
8.
The head offices of eight CPG Banks incorporated in
China with branches in Hong Kong are to be re-organised and
located in Beijing. Through participation in the management
and shareholding of these banks, the Bank of China will gain a greater degree of control over their activities, aimed at uniformity of banking policy, centralised direction and greater efficiency. This will be paralleled by changes in the management
of the Hong Kong branches. However, the four CPG Banks incorporated in Hong Kong e.g. the Nanyang Commercial Bank, have not so far been
affected by the re-organisation.
9.
The Bank of China's branch in Hong Kong, which reportedly
exceeded its financial objectives for 1980 (para 3 January 1981 Report) expects further improvement in 1981, with deposits increasing by an estimated 25%, loans by 50% and overseas
remittances by 32%.
/para 10.
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