SECRET

015 2

MDHIAN 9894

REVELATION OF THE SIZE OF THE FUND SHOULD BE REASSURING TO THE PUBLIC. (PLEASE SEE PARA 3.8(C) OF THE NOTES ATTACHED TO FS' LETTER TO YOU DATED 12 DECEMBER 1991). WE THEREFORE BELIEVE THAT THE CHINESE WOULD WELCOME OUR DECISION TO DISCLOSE THE INFORMATION AND APPRECIATE BEING TOLD IN ADVANCE AT THE NEXT MEETING.

4. GRATEFUL TO KNOW SOONEST THE OUTCOME OF YOUR DISCUSSIONS WITH THE BANK OF ENGLAND AND TREASURY.

FORD

YYYY

MAIN

23

DISTRIBUTION

31

HK CONFIDENTIAL FINANCIAL

(DIALOGUE)

LIMITED

HD/HKD

HD/ERD

HD/FED

HD/PUSD

HD/ECONOMIC ADVISERS

PS

PS/LORD CAITHNESS PS/PUS

SIR J COLES

MR BURNS

ADDITIONAL

MR WYE RAD

8

SIR P CRADOCK NO 10.

MR WIGHTMAN CABINET OFFICE

MR A CROCKETT BANK OF ENGLAND

MR C ELSTON BANK OF ENGLAND

MR O PAGE BANK OFENGLAND

MR P GRAY HMT

MR J P MCINTYRE HMT

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