CDE:MLH1278
INTERNATIONAL DIVISIONS
Telephone:
071-601 4265
Facsimile: 071-601 5561
BANK OF ENGLAND Threadneedle Street
London EC2R 8AH
5 October 1992
SH Broadbent Esq
Chief Economic Adviser Economic Advisers
Foreign & Commonwealth Office
Whitehall
London
SW1A 2AP
Dear Simon,
м Mu Stove
Crakeft fer Comment
(nd yet reed)
I enclose a paper on Hong Kong as a Regional Financial Centre which has been written here recently by Lee Dobney, Section Manager, Middle and Far East.
The paper attempts to assess the prospects for Hong Kong as a financial centre partly in the light of 1997 and partly in the light of developments in the region that are taking place already irrespective of 1997. A major emphasis of the paper rests on an inevitable comparison with Singapore, currently the only other developed financial centre, other than Tokyo, in the Asian region. But the paper also takes into consideration to some extent the prospects for and effects of further development in other centres such as Seoul, Taipei and Bangkok.
I hope you find the paper of interest.
We would naturally welcome
any views or comments you or other recipients may have on the analysis or conclusions.
Yours ever Curs
C D Elston
Senior Adviser, Asia & Australasia
CC
P P Ricketts Esq (HKD, FCO)
H Ll Davies Esq (FED, FCO)
G W Hewitt Esq CVO OBE (SEAD, FCO)
Robin Morgan Esq (Securities & Investment Group, HMT)
SN Wood Esq (AEF2, HMT)
JP McIntyre Esq (HMT)
Mr A Muckersie (ECGD)