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"Acceptability" of proposals to the people of Hong Kong
We shall, on a continuing basis, keep in close touch with the views
of the people of Hong Kong through the existing means. The ultimate test of acceptability will, in the special circumstances of Hong
Kong, have to be devised when the main line of the settlement has
emerged.
Independence for Hong Kong
With the New Territories lease due to expire in 1997, this is not a
feasible option.
Visit by Secretary of State
There are no plans at present for the Secretary of State to visit Hong Kong or China.
Visit by Sir Percy Cradock
The Ambassador has taken the opportunity to visit Hong Kong at the
time of my visit as he did when Lord Belstead was here in December.
This is very useful for me.
Hong Kong Stock Market and Exchange Rate Fluctuations
Sharp fluctuations in the Hang Seng Index are more common than in
Western stock exchanges. In 1973 the Index fell from 1700 to little
more than 200. Of course uncertainty over the future from time to
time affects the market but there are other factors such as the world recession, reduced growth forecasts, declining property prices, high international interest rates and the strength of the
US$ dollar affect the market.
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