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win be published in Hong Kong Government White Paper in February.
Wrong for me to comment on likely outcome.
3. Mr Martin Lee, a member of the Legislative Council, led a
delegation to London from 7-10 December to press for introduction of
direct elections in 1988. He declined to hold a scheduled meeting
with Lord Glenarthur on the grounds that the Minister had agreed to
meet only the Legislative Council members of the delegation. He
also wanted to meet the Prime Minister and the Secretary of State.
The main point made by the delegation was the (false) allegation
that HMG and Hong Kong Government had earlier made a commitment to
introduce direct elections in 1988. Lord Glenarthur agreed to meet the LegCo members in view of their special position in Hong Kong.
The people of Hong Kong have already had every opportunity to submit
their views on this and other subjects covered by the Green Paper.
He very much regretted that Mr Lee felt unable to take the
opportunity for a discussion with him, the Minister responsible for
Hong Kong. Line to take: aware of Mr Lee's visit to London.
that he did not feel able. to continue the meeting with Lord Glenarthur. (If appropriate; no prior commitments were made to
introduce direct elections in 1988).
Regret
Hong Kong Stock Exchange
4.
Hang Seng index stands at about 2,000, compared with high of
about 3,900. This fall of almost 50 per cent rather more than world
average. Markets closed for four days after initial fall on Wall
Street. Particular problem on Futures Exchange, resulted in two-part rescue package of up to HK$ 4 billion. Mr Hay Davison has been appointed as Chairman of a Commission of Enquiry into the management and operation of the Hong Kong Stock and Futures markets. Line to take: Hong Kong Government have acted energetically to identify underlying problems and re-establish Hong Kong's good reputation as a financial centre. (If questioned) Selection of Mr
Davison was matter for Hong Kong Government.
Implementation of the Joint Declaration (JD)
5.
Implementation continues well. Much progress is being made.
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