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Media Summary on Hong Kong's Future
Period: May 24 30, 1983
INTRODUCTION:
The continuing weakness of the HK dollar has been a major talking point in the media during the week, with the general manager of the Bank of China attacking speculators in the foreign exchange markets and calling on the Government to reconsider its policy of "positive non-intervention". The Governor, answering press questions at the opening of the Tang Shiu-kin sportsground in Sai Kung on Friday, said the dollar would eventually regain its strength because there was an underlying strength in our economy.
Yesterday (Monday), the first reports came back from the delegation of local journalists visiting China. In a written reply to seven questions submitted by them, the Chinese Government said HK could remain a special administrative zone for a long time after the territory's sovereignty reverted to China.
There continued to be reports of the 12-member delegation of professionals, including three Legco members, who visited China earlier this month. Delegation leader, Mr. Allen Lee, reportedly told the Oriental Daily News that the memorandum on HK which they had put forward to Chinese leaders had also been made available to the
HK Government.
The Economic Journal produced three editorials on the subject of a provisional agreement for HK, to be concluded as soon as possible.
In the English-language media, the Far Eastern Economic Review noticed a softening in China's diplomatic stance on the HK issue with NPC vice-chairman, Mr. Xi Zhongxun, telling the 12-member delegation (referred to above) that a satisfactory solution would bring honour to both countries. The SCMP said it was unlikely that any announcement would be made about the future of HK at the forthcoming NPC (as feared) because of the "delicate position" of HK and Britain at the moment. One of the local people appointed to the CPPCC said it was "common sense" that HK belonged to China. There were comments both locally and overseas expressing confidence in the future economic performance of HK. One local comment, however, struck a sour note: Mr. William S.S. Wong of Virture Shipping and Enterprise said he had proposed a multi-million dollar investment to the Federated States of Micronesia because of HK's uncertain future. This was in contrast to the statement
of Mr. Imahara of Japan Associated Finance Co., who said some 50 Japanese companies were seeking joint venture arrangements with local industries to manufacture high-technology products.
ITEMS:
1.
WRITTEN STATEMENT ON HK'S FUTURE:
The Chinese Government issued a written statement on May 29 in reply to seven
questions put forward by a group of local journalists now visiting Beijing.
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