4
HARL
PUBLIC SERVICE
4. A TEAM FROM THE POLITICALLY NEUTRAL CIVIL SERVANT'S GENERAL
UNION IS TO VISIT PEKING FROM 25-31 AUGUST TO DISCUSS THE CONCERNS OF HONG KONG CIVIL SERVANTS. THIS IS THE SECOND VISIT TO PEKING IN THE
LAST TWO MONTHS BY A GROUP OF CIVIL SERVANTS.
5. MEANWHILE, REPRESENTATIVES OF THE ASSOCIATION OF EXPATRIATE CIVIL SERVANTS HAS BEEN VISITING LONDON, WHERE THEY MET FCO
OFFICIALS AND A NUMBER OF MPS. DESPITE WIDE-RANGING DISCUSSIONS
THEIR PRESIDENT TOLD THE PRESS THAT THEY RECEIVED ONLY A RATHER
BLAND STATEMENT'' ABOUT GUARANTEES FOR PENSIONS AFTER 1997.
REPRESENTATIVE GOVERNMENT
6. DISTRICT BOARDS HAVE STRONGLY SUPPORTED THE PROGRESSIVE AND
GRADUAL APPROACH OF THE GREEN PAPER ON REPRESENTATIVE GOVERNMENT, ALTHOUGH DISTRICT OFFICERS REPORT CONSIDERABLE APATHY AT GRASSROOTS
LEVEL. A LARGE PROPORTION OF PEOPLE EXPRESSING VIEWS LOOK FORWARD TO DIRECT ELECTIONS EVENTUALLY AND, WITH THIS IN MIND, MANY ARE SAYING THAT THE REVIEW PROPOSED FOR 1989 SHOULD BE ADVANCED.
INVESTMENT
7. A WAIT AND SEE ATTITUDE PREVAILS AMONG LOCAL ENTREPRENEURS AND
INVESTORS RELUCTANT TO COMMIT FUNDS (EXCEPT FOR SHORT-TERM
INVESTMENTS) BEFORE THE EXPECTED SETEMBER ANNOUNCEMENT. THE
PROPERTY MARKET IS HOWEVER SHOWING MODEST SIGNS OF REVIVAL.
THE HANG SENG INDEX HAS FLUCTUATED WITHIN A FAIRLY NARROW RANGE IN
LINE WITH INTEREST RATE CONSIDERATIONS. AN INTEREST RATE REDUCTION
ON 23 AUGUST OF 1 PERCENT HAS NOT AFFECTED THE EXCHANGE RATE OF THE HONG KONG DOLLAR, WHICH OBSTINATELY REMAINS FRACTIONALLY ABOVE THE
US DOLLAR 7.80 MARK.
YOUDE
FUTURE OF HONG KONG
LIMITED
HD/HKD
HD/FED
HD/PLANNING STAFF
HD/PUSD
DEP HD/PUSD
RESEARCH D (MR WALKER)
LEGAL ADVISERS (SIR J FREELAND) PS
PS/LADY YOUNG
PS/MR LUCE
PS/PUS
SIR W HARDING
SIR C TICKELL
MR GOODALL
MR DEREK THOMAS MR. BOYD
COPIES TO:-
BUCKINGHAM PALACE
PS/LORD PRESIDENT OF THE COUNCIL PS/HOME SECRETARY
PS/CHANCELLOR OF THE EXCHEQUER
PS/LORD PRIVY SEAL
PS/SECRETARY FOR TRADE & INDUSTRY
COPIES TO:- (VIA ADR)
MR ROBERTS NEWS DEPT
MR BURROWS LEGAL ADVISERS
MR FIFOOT LEGAL ADVISERS
MR POWELL NO 10 DOWNING ST.
MR MARTIN
ASSESSMENTS STAFF CABINET OFFIC
MR CARTLEDGE CABINET OFFICE
MR COLVIN
PS/S OF S FOR DEFENCE
CABINET OFFICE
ROOM K195
PS/ATTORNEY GENERAL
SIR P CRADOCK
SIR P CRADOCK NO 10 DOWNING ST.
2
CONFIDENTIAL