Mr. Footman of wh
голы
OR PRU USE ONLY
N
PARLIAMENTARY QUESTION
12/1
For WRITTEN ANSWER on
OP Date:
PA
Serial no:11B6TEXT OF QUESTION :-
11/01/88
RESTRICTED COVERING CONFIDENTI
SECRET
Head of
HKD
Please submit :- a draft Answer
& Background
to Parliamentary Unit
before
8
08 101
won
1988
Party
C
ROBERT ADLEY (CHRISTCHRCH)
To ask the Secretary of State/8:
IF HE WILL MAKE A STATEMENT ON THE MAINTENANCE OF PROSPERITY AND STABILTY IN HONG KONG IN THE LIGHT OF RECENT DEVELOPMENTS CONNECTED WITH THE H K STOCK EXCHANGE.
to P/S LORD GLENARTHUR
(Minister)
for approval by
NOON 11. JAN.87
...PQS ...REPLY(S)
for answer by
MR. EGGAR
(Minister)
ANSWER We
I believe that the prompt action taken by the Hong Kong Government in November to initiate a thorough review of the management and operation of the Hong Kong Stock Exchange and, more recently, the resolutions passed by the Stock Exchange enabling certain members of its committee to distance themselves from the management of the Exchange while investigations into allegations of corruption in the operation of the Exchange are in progress, will have reinforced international confidence in Hong Kong as a leading financial centre.
This will contribute
to the maintenance of the prosperity and stability of the
territory.
copy to
Private, Secretary
WR, EGGAR
PS/
•
(Minister)
Parliamentary
Clerk
authorised
Cote
(Head of Dept)