-MR. HUM
GIS/L/T/1602
ROM DIS(D.O.).
( \OTAL: TWO PAGES THIS TIME, MORÐ WILL COME LATER)
TOOTMINE"
ALL OVERSEAS OFFICES (TC/LONDON, FL CFASS-TO-FOOL HOV. 24, 1987
GOVERNOR GIVES PRESS
NFERENCE
FERENCE RBS
PA.
157
7. +
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FOLLOWING IS A FULL "RANSCRIPT OF THE PRESS CONFERENCE GIVEN BY THE GOVERNOR, SIR DAVID WILSON, TODAY (TUESDAY):
H.E. GOOD AFTERNOON. IT IS NICE TO SEE BARRAGE OF CAMERAS AND IT IS NICE COMPANIES ARE APPARENTLY OPERATING IN
O
YOU KNOW THAT OPERATION!
ALL THROUGH THE BOTH TELEVISION
HONG KONG IN MY PRESENT GAVE A PRESS CONFERENCE. A SIX MONTHS AND I THOUGHT CL OF YOU PUBLICLY AND TO PUT FORWARD. PUT FORWARD. MOST OF YOU I OF YOU I HAVE MET SEVERAL AT YOUR DISPOSAL TO TRY TO
IT IS SEVEN MONTHS SINCE I CAME APPOINTMENT. IT IS SOME SIX MONTHS SINC: I GREAT DEAL HAS BEEN HAPPENING DURING THESE IT MIT BE A NICE OPPORTUNITY TO MEET CL ANSWER ANY QUESTIONS THAT YOU WANTED TO HAVE MKT OVER THE LAST FEW MONTHS. MANY TIMES OVER THE LAST FEW MONTHS. SO I At ANSWER ANY OF YOUR QUESTIONS.
I
DIS: FIRST QUESTION? THE GENTLEN
ONG
IN THE FRONT.
ECONOMIC JOURNAL: THE FIRST ITED STATES. DURING YOUR TRIP U RECEIVED ANY PRESSURE FROM RATE BETWEEN HONG KONG DOLLARS ABOUT YOUR TRIP TO -- ALSO MANY RUMOURS CONCERNING ::D +
}
YOUR
LO WING-HUNG, OF THE HONG QUESTION, CONCERNING YOUR TRIP TO HE TO THE UNITED STATES IN OCTOBER, H. VE THE U.S. GOVERNMENT CONCERNING THE LIN AND U.S. DOLLARS? THE SECOND QUEST ON YOUR TRIP TO CHINA. AS THERE ARE SO RELATIONS WITH THE CHINESE GOVERNMENT
ABOUT YOUR TRIP, DO YOU THINK IT IS POSSIBLE FOR YOU TO BRIEF E LEGCO MEMBERS, LET'S SAY IN THE OMELCO MEETING, AFTER EVERY VISIT CHINA ABOUT THE CONTENT OF TE CONVERSATION BETWEEN YOU AND THE CHINESE GOVERNMENT? I THINK T IS PRACTICE, IT WAS THE PRACTICE DURING THE NEGOTIATION PERIOD. DO YOU THINK IT IS POSSIBLE?
H.E.: THANK YOU. THESE ARE TWO RY DIFFERENT QUESTIONS. LET M TAKE THEM IN ORDER. FIRST OF ALL, TH UNITED STATES. I SAID WHEN I W S IN THE UNITED STATES THAT THE POINT HAD BEEN RAISED WITH ME OF TE LINK WITH THE U.S. DOLLAR. IT IS A OINT WHICH HAS COME UP BEFORE; FOR INSTANCE, MR BAKER TALKING AT THE I.M.F. CONFERENCE. IT IS A POINT WHICH HAS COME UP MUCH MORE RECEN LY WITH MR MULFORD AND SOME COMMENTS THAT HE HAS MADE. WE HAVE MADE IT QUITE CLEAR THAT WE DO NOT STE HONG KONG GETTING ANY UNFAIR TRADING ADVANTAGE FROM THE LINK. WE SEE OUR POSITION AS BEING VERY DIFFERENT INDEED FROM THAT OF SOUTH KOREA OR TAIWAN, IN BOTH THOSE CASES THE UNITED STATES IS VERY UNDERSTANDABLY TRYING TO REDUCE THE TRADE DEFICIT BECAUSE HUGE SURPLUSES HAVE BEEN BUILT UP AGAINST THE BACKGROUND OF PROTECTIONIST, BARRIERS. I EXPLAINED IN THE UNITED STAVES THAT HONG KONG IS TOTALLY DIFFERENT. WE ARE NOT RUNNING A TRADE SURPLUS. OUR TRADE IS ROUGHLY IN BALANCE. IN FACT WE MAY AT THE END ( THIS YEAR BE SLIGHTLY IN DEFICIT. I ALSO EXPLAINED TO THEM THAT HE PEG ARRANGEMENT IS ONE OF ENORMOUS IMPORTANCE TO THE STABILITY OI HONG KONG AND THE STABILITY OF THE HONG KONG FINANCIAL SYSTEM AND " CREFORE OUR TRADING SYSTEM.. AND I EXPLAINED TO THEM ALSO THAT 2 THOSE REASONS WE HAD NO INTENTION OF SHIFTING IT ANT I AM BOUN! TO SAY THAT WITH MOST OF PEOPLE I WAS TALKING TO I GO A VERY S PATHETIC RESPONSE.
THE
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