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Media Summary on Hong Kong's Future
Period: May 17 May 23, 1983
INTRODUCTION:
To mark the first anniversary of his becoming Governor, Sir Edward Youde gave a television interview on 20 May which was widely covered by the media. Apart from extensive reporting on what he had to say, 12 Chinese Papers commented editorially, with one Ming Pao stating that the Governor's view of what the HK people wanted comprehensively demonstrated that he totally understood their aspirations.
A 12-member delegation, including three Legislative Councillors, returned to HK on Sunday after six days in China. The leader, Mr. Allen Lee, told the press that he had told the Chinese HK was experiencing a confidence crisis and that Beijing's self- administration proposal would upset HK's prosperity and stability.
In London, Lord MacLehose said that even if an acceptable package was agreed for HK the talks on the future would still face a great problem: how to convince the world of international finance and investment that the package would last.
During the week, the HK dollar slumped to an all-time low, with uncertainty over the future taking some of the blame. After going through the so-called "psychological" US$1 = HK$7 level, there was a rebound following the raising of the prime rate two percentage points to 13.5 pc, although the unit slipped through the $7 barrier again on Monday.
After several months of speculation, it was officially announced during the week. that Mr. Xu Jiatun, former First Secretary of Jiangsu Provincial Party Committee, would take over as head of Xinhua in HK.
The English-language papers prominently reported the Governor's television interview and Lord Mac Lehose's speech; the only comment appeared in a SCMP editorial on 23 May which said if Sir Edward's comments took a more optimistic view there was no reason to see Lord MacLehose's as anything but realistic. Also given prominent coverage was the return to HK of the 12-member delegation to Beijing.
ITEMS:
1.
GOVERNOR'S TV INTERVIEW
In a TV interview on 20 May the Governor, Sir Edward Youde, said the Sino- British talks had been going on and were still going on. "They are moving in the right direction, and we still remain fully determined to make a success of them," he said.
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