RESTRICTED
FM FCO
TO DESK BY 21010OZ HONG KONG
TELNO 1929
OF 20153OZ JULY 88
RESTRICTED
TOP COPY @ DIST ?
MKC 100
100/1
RECEIVED IN REGIST
21 JUL 1988
072456
MDHOAN 0797
75
DESK OFFICER
IND:
"A
take
PQ ON SECURITIES REVIEW COMMITTEE
REPORT
1. MR TOM COX, MP HAS TABLED THE FOLLOWING PQ FOR WRITTEN REPLY.
BEGINS
TO ASK THE SECRETARY OF STATE WHAT REPORTS HAVE NOW BEEN MADE TO HIS DEPARTMENT OVER THE EVENTS SURROUNDING THE HONG KONG STOCK EXCHANGE CRASH IN OCTOBER 1987, AND IF HE WILL MAKE A STATMENT ON ANY ACTION TO BE TAKEN BY THE HONG KONG GOVERNMENT. ENDS.
2.
WE PROPOSE TO SUBMIT THE FOLLOWING DRAFT REPLY.
BEGINS
THE HONG KONG GOVERNMENT HAVE BEEN IN CLOSE AND REGULAR TOUCH WITH THE GOVERNMENT ABOUT DEVELOPMENTS SINCE THE EVENTS OF OCTOBER 1987. WE WELCOME THE RECOMMENDATIONS FOR REFORM MADE BY THE SECURITIES REVIEW COMMITTEE, APPOINTED BY THE HONG KONG GOVERNMENT, IN THEIR REPORT PUBLISHED ON 2 JUNE. THE HONG KONG GOVERNMENT TOGETHER WITH THE INDUSTRY ITSELF ARE ACTING AS QUICKLY AS POSSIBLE TO IMPLEMENT THE RECOMMENDATIONS. THE GOVERNMENT ARE CONFIDENT THAT THIS PROMPT AND DECISIVE RESPONSE WILL HELP TO MAINTAIN AND ENHANCE HONG KONG'S REPUTATION AS AN INTERNATIONAL FINANCIAL CENTRE. ENDS.
3.
WE WOULD BE GRATEFUL FOR ANY COMMENTS YOU MAY HAVE ON THE ABOVE, TO REACH US DESKBY 220800Z TO ENABLE US TO MEET OUR DEADLINE.
HOWE
YYYY
ΜΑΙΝ
12
MINIMAL
HKD
NNNN
DISTRIBUTION
12