CONFIDENTIAL
FM FCO
TO IMMEDIATE BTC HONG KONG
TELNO 56
OF 17183OZ APRIL 90
INFO IMMEDIATE HONG KONG
42
CONFIDENTIAL
So
010266
MDHOAN 7089
thee (dild
RECEIVED IN
25 APR 1990
TRY
DE INDEX
YOUR TELNO 113: VALUE OF BRITAIN'S ECONOMIC STAKE IN HONG KONG
1. LORD SEFTON OF GARSTON HAS TABLED THE FOLLOWING QUESTION FOR WRITTEN ANSWER ON 19 APRIL:
QUOTE WHAT ECONOMIC OR FINANCIAL BENEFIT ACCRUED TO THE UK FROM OUR RELATIONSHIP WITH HONG KONG IN THE LAST THREE YEARS UNQUOTE.
2.
WE PROPOSED TO ANSWER THIS QUESTION AS FOLLOWS:
QUOTE
IN EACH OF THE LAST THREE YEARS, BRITAIN'S VISIBLE EXPORTS TO HONG KONG WERE WORTH
POUNDS MILLION
1987
1013
1988
1989
1031
1111
TOTAL ANNUAL INVISIBLE EARNINGS BY UK COMPANIES IN HONG KONG IN EACH OF THESE YEARS EXCEEDED POUNDS 1,000M
THE BRITISH COMMERCIAL PRESENCE AND BRITISH INVESTMENT IN HONG KONG ARE ALSO VERY EXTENSIVE. MORE THAN 1,000 HONG KONG COMPANIES HAVE BRITISH INVOLVEMENT THROUGH DIRECT CONTROL, INVESTMENT OR MANAGEMENT AND PRODUCE SIGNIFICANT RETURNS FOR THE UK. THE GROSS STOCK MARKET VALUE OF THESE COMPANIES
HAVE BEEN ESTIMATED AT SOME POUNDS 20 BILLION.
UNQUOTE.
3.
HURD
GRATEFUL FOR ANY COMMENTS DESKBY 1809OOZ.
YYYY
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