CONFIDENTIAL
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CTWAJG(2)
TWAJ
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Whilst HMG could not oppose any "insurance policy" scheme which of red people in Hong Kong the type of insurance they considered adequate to enable them to remain there through the transition to Chinese sovereignty, it would place us in a very difficult position if the assurances offered by such schemes turned out to be bogus. Thus we must make every effort to establish the bona fides of the organisers of any passport/permanent residency certificate in return for Hong Kong investment schemes and the validity and worth of any document thus supplied, before we allow such schemes to go ahead.
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I hope this makes the Hong Kong angle a little clearer. principal concerns are that Hong Kong people do not have to leave the territory to obtain their "insurance" and that, once obtained, it is what it purports to be. Nobody's fingers should get burnt.
You may like to show this minute to Mr Gorham in advance of his meeting with Mr John Shearer. In the meantime, subject to your views, I shall prepare a revised draft circular to dependent territories clarifying HMG's position as regards Hong Kong on the lines set out above. I imagine the bulk of any such guidance will in fact come from WIAD since, as you see, our position is fairly
therefore neutral. straightforward and, in most cases,
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3 August 1989
CONFIDENTIAL
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GH Leicester
Hong Kong Department WH304
270 3287