CONFIDENTIAL
Para 2, last sentence
Replace with:
'The association with sterling ended in 1972. Since 1974 the HK$ has been a fully independent floating currency.
"
Para 3 last sentence
Replace with:
'The Exchange Fund can intervene in the foreign exchange markets to smooth movements in the exchange rate, but cannot fix the rate at any particular level.'
Para 5
Financial System
Para 2
Delete.
4.
↑
Add to the' before 'UK'. Replace 'the acceptability public' with 'public acceptability in Hong Kong'.
First sentence: replace 'proposals' with 'principles'
Para 5
also 'priorities for' rather than 'priorities of'.
Para 6
These figures have been revised, and this might be noted (see Bremridge's speech to the Foreign Correspondent's Club on 16 September).
3 October 1983
Wick Hallott.
NO Hallett
ESID WH425B
233 5335
CONFIDENTIAL