GRS 400
CONFIDENTIAL
FM HONG KONG
TO IMMEDIATE FCO
TELNO 115
OF 13O2OOZ JANUARY 86
INFO IMMEDIATE PEKING
CONFIDENTIAL
3
TOP COFY
HRK 027/4
027/4
14 JAN 1986
Agis Ty
MY TELNO 2884 : VISITS BY SENIOR CHINESE FIGURES TO HONG KONG.
#MADE NT CLEAP PUBLICLY AND PRIVATELY DURING JI PENGFE'S VISIT THAT FURTHER SENIOR VISITORS WOULD BE WELCOME AN HONG KONG. MY TELNO 2866 ALSO TOUCHED ON THIS SUBJECT.
2. WE HAVE GIVEN THIS FURTHER THOUGHT. THE SORT OF CHINESE VISITOR WE WANT SHOULD HAVE POLITICAL CLOUT, RELEVANT EXPERTISE AND THE PERSONAL CAPACITY TO ABSORB THE HONG KONG MESSAGE. THE MOST PROMISING ARE LIKELY TO BE MINISTERS (AND LATER VICE PREMIERS) WITH ECONOMIC
PORTFOLIOS.
3. SEEN FROM HERE THE CHAIRMAN OF THE PEOPLE'S BANK OF CHINA, MME CHEN MUHUA, MIGHT SUIT. SHE IS IN THE POLITBURO, COMMANDS A HIGHLY RELEVANT FIELD OF WORK AND S (WE MUST ASSUME) PERSONALLY COMPETENT. SHE CAN NO DOUBT COUNT ON GOOD CAPITALIST BRIEFING FROM THE CHINESE BANKING SECTOR (VDE PEKING'S HELP OVER KA WAH). FURTHERMORE SHE FACES FOREIGN EXCHANGE PROBLEMS, TO SOME EXTENT OF HONG KONG ORIGIN, WHICH HONG KONG WILL HAVE A KEY ROLE IN SOLVING (VIDE THE EFFORTS OF THE CHINESE CORPORATIONS HERE TO MAXIMISE EARNINGS). AND SHE WILL KNOW THAT IN THE LONGER TERM SUCH PROBLEMS WILL NOT BE SOLVED UNLESS CHINA'S INDUSTRIAL TECHNOLOGY IS UPGRADED: HERE
AGAIN HONG KONG HAS A VITAL ROLE TO PLAY.
4. THERE WOULD BE NO DIFFICULTY IN WORKING UP AN INTERESTING
PROGRAMME FOR MME CHEN. THIS IS A SHOWCASE OF WORLD BANKING. THE
HONG KONG ASSOCIATION OF BANKS COULD BE COUNTED ON TO ASSIST. L HOU, ACCOMPNAYING JH PENGFER, SAW THE HONG KONG AND SHANGHAI BANK'S DEALING ROOM AND WAS IMPRESSED. THE SECRETARY FOR ECONOMIC SERVICES
HAS ALSO ESTABLISHED USEFUL PERSONAL LINKS WITH THE BANK OF CHINA AND PEOPLE'S BANK OF CHINA IN PEKING ON WHICH WE COULD 3UILD. THERE IS OF COURSE SOME RISK THAT THE BANK OF CHINA'S NOSE WILL BE PUT OUT OF JOINT. AGAINST THIS HOWEVER MME CHEN IS NOW UNDENIABLY THE DOMINATING FIGURE ON THE CHINESE BANKING SCENE AND OUR INTEREST
IN CULTIVATING HER SHOULD BE UNDERSTOOD.
CONFIDENTIAL
15.