CONFIDENTIAL
TCP-OETRY
442
25937
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DD 21040OZ NEW DELHI
GRS152
CONFIDENTIAL
DESKBY 21040OZ
FM FCO 20170OZ OCT 83
TO IMMEDIATE NEW DELHI
TELEGRAM NUMBER 613 OF 20 OCTOBER
MKK040/5
KOEIVED IN HEL STAY
141 1983
FOLLOWING FOR SIR J BULLARD FUTURE OF HONG KONG
1
1. WE HAVE PROVIDED BRIEFING ON THIS SUBJECT FOR YOUR
1CM26/10
VISIT TO INDIA AND PAKISTAN. FOLLOWING ARE ADDITIONAL POINTS
TO MAKE TAKING INTO
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ACCOUNT SUBSEQUENT DEVELOPMENTS
(A) SINO-BRITISH TALKS
FIFTH ROUND IN SECOND PHASE OF SINO-BRITISH TALKS ON HONG
KONG'S FUTURE HELD IN PEKING ON 19/20 OCTOBER. DESCRIBED IN
JOINT COMMUNIQUE AS USEFUL AND CONSTRUCTIVE. WILL RECONVENE
14/15 NOVEMBER.
(B) HONG KONG STOCK MARKET AND DOLLAR EXCHANGE RATE.
ON 15 OCTOBER, HONG KONG GOVERNMENT TOOK CERTAIN MEASURES TO STABILISE THE HONG KONG DOLLAR. KEY ELEMENT WAS INDIRECT
PEGGING OF HONG KONG DOLLAR TO US DOLLAR AT RATE OF HONG KONG
DOLLARS 7.80 = USDOLLARS 1, AND ABOLITION OF LOCAL TAX
PAID ON HONG KONG DOLLAR DEPOSITS.
RESPONDING WELL.
CURRENCY AND STOCK MARKET
HOWE
SIR IAN SINCLAIR LEGAL ADVISER
FUTURE OF HONG KONG
COPIES TO
LIMITED
MR BURROWS
ED/HKD
ED/FED
MR ROBERTS
HD/PLANNING STAFF
MR MARTIN
ED/PUSD
PS
PS/LADY YOUNG
MR FLOWER
PS/MR LUCE
MR COLES
PS/PUS
SIR J BULLARD
MR GIFFARD
MR DONALD MR WRIGHT!
SIR A PARSONS
LEGAL ADVISER
NEWS D
ASSESSMENTS STAFF
CABINET OFFICE
FUSD
NO 10 DOWNING STREET
NO 10 DOWNING STREENA
MR WALKER RESEARCH D OAB 2/82
MR GOODALL, CABINET OFFICE
SIR PHILIP MOORE, BUCKINGHAM PALACE
CONFIDENTIAL