Press Reaction
8.
Please see Annex II,
Concluding Comments
9.
There is a very wide spectrum of reaction in London securities circles to the SEHK closure, from those who bitterly resent what happened, think enormous damage was done that will take a long time to repair, and doubt HKG's leadership, to those who supported the closure and for whom the Hong Kong securities markets are still as worthwhile as
before.
10.
It also appeared that the appointment of the Committee has not by itself helped to repair damage in London
There is a long eyes. This is perhaps not surprising. history in the UK of recommendations from government-appointed committees of enquiry and Royal Commissions being ignored by
HMG.
The appointment of such bodies is seen by many cynics as a prelude to action. This is not to say that actual actions as a result of the committee will not benefit Hong Kong's image.
Looking Ahead
11.
The more often senior officials and principals involved in the markets can visit London to reassure the City the better. One such occasion will be on 16 December when Mr Bob Fell will address the Royal Society for the encouragement of Arts, Manufacture and Commerce on the supervisions of Hong Kong's financial markets. The London Office will be spreading the message wider in March 1988 when it will host a series of dinners, coupled with an audio-visual presentation on Hong Kong, for opinion leaders and captains of industry in four major cities in the UK. The opportunity will also be taken to brief the press in the regions in which these cities are located.
Hong Kong Government Office, London
10 December 1987