RESTRICTED

4. Incidentally, he is now looking at widening his China portfolio. Like a number of people before him, he has been struck by the development potential of Hainan.

He has put

ideas to the Chinese (Zhao Ziyang") and has been invited to visit there in March. Watch this space.

CC:

Sir A Donald KCMG, Peking

FED)

HKD) FCO

ERD)

ε

Mr R Holloway, BTC H.K.

(all without enclosures)

Your ever

Нищи

H Ll Davies

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