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(II) THE PROSPERITY AND STABILITY OF HK MUST BE

MAINTAINED

(B) THREE IMMUTABLES--

(C)

(I) HK'S CAPITALIST SYSTEM

(II)

HK'S STYLE OF LIVING

(III)

HK AS A SUCCESSFUL FINANCIAL CENTRE AND FREE

PORT (HE GAVE AN ASSURANCE THAT PRIVATE PROPERTY

AND FOREIGN INVESTMENTS WOULD BE PROTECTED)

HK WOULD BE GOVERNED BY HK PEOPLE--HE ELABORATED

THAT WHILST HE HAD VISITED HK SOME 20 TIMES, HE WOULD NOT

REGARD HIMSELF AS "A HK PERSON" AND REITERATED

THAT IT WOULD BE INDIGENOUS HK PEOPLE GOVERNING HK

IN DUE COURSE. HE ADDED THAT PEOPLE OF CHINESE

DERIVATION SHOULD HAVE SELF-CONFIDENCE THAT HK

CAN BE SO GOVERNED. HE ASKED HIS AUDIENCE IF THAT

WERE "A GOOD IDEA"THIS DREW FROM THE GUESTS A

ROUND OF APPLAUSE.

CHINA :

ACHIEVEMENTS AND ERRORS

(A) CHINA HAD ACHIEVED MUCH BUT HAD MADE MISTAKES

FROM TIME TO TIME (EG THE LATE 50'S AND EARLY 70'S

WERE CITED AS EXAMPLES, ALSO THE GANG OF FOUR)

(B) CHINA IS TIRED OF FURTHER CHANGE (STRONG IMPLICATION

HERE THAT THE REFERENCE IS TO POLITICAL CHANGE) AND

THERE WOULD BE NO FEAR OF CHANGE

(C)

CHINA AIMS NOW TO MAKE "STEADY STEP-BY-STEP PROGRESS

FORWARD"

(D) CHINA'S ECONOMY IS "GOOD"

(E) CHINA'S INDUSTRIALIZATION IS GOING AHEAD "FAST"

(F)

CHINA'S "MAJOR MISTAKE" IS ITS MASSIVE POPULATION.

THE AMBASSADOR COMPLIMENTED TAIWAN ON ITS COMPARATIVELY

BETTER DEVELOPMENT BUT PUT IT DOWN TO AID BY USA

(TO THE TUNE OF US DOLLAR 1,500 PER CAPITA). NO SINGLE

COUNTRY COULD POSSIBLY PROVIDE PER CAPITA AID OR LOAN

TO CHINA ON SUCH A SCALE:

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