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низ
Hu 10 TOP COPY
010625
MDHIAN 9609
10
Q DIST?
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FM PEKING
TO IMMEDIATE FCO
TELNO 71
OF 170459Z JANUARY 92
INFO PRIORITY HONG KONG, UKREP JLG HONG KONG
-2011
M Jhone or
пра
M
17:.
PERSONAL FOR RICKETTS, HKD, FROM AMBASSADOR HONG KONG PERSONAL FOR GOVERNOR UKREP JLG PERSONAL FOR PAUL
GERSONA
FCO TELNO 60 TO HONG KONG:
CONFIDENTIAL FINANCIAL DIALOGUE
1.
I CANNOT RECALL ANY CHINESE STATEMENT WHICH WOULD GIVE A CLUE TO THEIR ATTITUDE TOWARDS PUBLICATION OF THE SIZE OF THE EXCHANGE FUND BUT WE NO LONGER HAVE MOST OF THE PAPERS AND I CANNOT CHECK. IN PRINCIPLE I WOULD EXPECT THE CHINESE TO FAVOUR PUBLICATION, IF ONLY ON THE GROUND THAT IT WOULD MAKE IT LESS EASY FOR HMG OR THE HKG TO COOK THE BOOKS AND TRANSFER FUNDS SECRETLY TO THE UK (AS SOME SENIOR CHINESE LEADERS NO DOUBT SUSPECT WE INTEND). BUT ANY MOVE OF THIS KIND WILL BE SCRUTINISED CLOSELY WITH A VIEW TO ESTABLISHING ITS 'REAL' MOTIVATION AND INTENTION, AND SOME ON THE CHINESE SIDE WILL NO DOUBT QUESTION WHETHER THERE IS ANY NEED TO CHANGE A SYSTEM WHICH HAS HELPED IN THE PAST TO MAINTAIN MONETARY STABILITY IN HONG KONG.
2.
THESE CONSIDERATIONS SUGGEST THAT IF THE PROPOSAL IS AGREED IN LONDON, THE CHINESE SHOULD BE GIVEN A VERY CAREFUL EXPLANATION OF THE REASONS FOR MAKING THE MOVE NOW.
MCLAREN
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