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Chidereating
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FM HONG KONG
TO PRIORITY FCO
TELNO 2858
OF 08100OZ DECEMBER 92
INFO ROUTINE HKGO LONDON, PEKING, UKREP JLG HONG KONG INFO ROUTINE HKGO WASHINGTON, HKGO NEW YORK
INFO HKGO SAN FRANCISCO, UKMIS GENEVA, HKGO GENEVA
J
HONG KONG FUTURE: PRESS COVERAGE: (3.12 8.12).
SUMMARY
THE DISPUTE OVER CONSTITUTIONAL REFORMS CONTINUED TO FEATURE.
CONSTITUTIONAL REFORMS
2.
REPORTS NOTED THAT LI PENG (3.12) SAID IN HANOI THAT CHINA WAS CONCERNED ABOUT THE FALL IN THE HK STOCK MARKET. HOWEVER, MR.LI CLAIMED THE SITUATION IN HONG KONG WAS ENTIRELY DUE TO THE ACTIONS OF THE HK-BRITISH ADMINISTRATION AND THE RESPONSIBILITY DID NOT LIE WITH CHINA. THE HK NCNA VICE DIRECTOR. ZHANG JUNSHENG MADE SIMILAR COMMENTS.
3
THE VICE DIRECTOR OF NCNA, ZHANG JUNSHENG SAID CHINA WOULD ADHERE TO THEIR PRINCIPLE OF 'ONE COUNTRY TWO SYSTEM'S. MR ZHANG CRITICISED (3.12) THE GOVERNOR FOR SAYING BRITAIN HAD A MORAL RESPONSIBILITY TOWARDS HONG KONG AFTER 1997 WHICH MR ZHANG CLAIMED WAS IN ORDER TO PROLONG BRITISH COLONIAL RULE OVER HONG KONG.
4.
THE PRESS WIDELY NOTED (4.12) THE DROP OF SOME 400 POINTS IN THE HANG SENG INDEX. THE GOVERNOR WAS QUOTED AS SAYING THAT THE ECONOMIC FUNDAMENTALS IN HONG KONG WERE SOUND AND HE HAD SAID AND DONE NOTHING TO CAUSE THE FALL IN THE INDEX. IT WAS NOTED THAT THE FOREIGN MINISTRY SPOKESMAN IN PEKING LI JIANYNG SAID CHINA WAS NOT RESPONSIBLE FOR THE FALL OF THE HK STOCK MARKET. MR LI SAID THE CURRENT DISPUTE WAS NOT STARTED BY THE CHINESE SIDE AND CHINA NEVER MADE CONCESSIONS ON ISSUES OF PRINCIPLE. THE ISSUE FACING THE BRITISH SIDE NOW WAS WHETHER THE JD AND OTHER AGREEMENTS WERE STILL NEEDED, WHETHER THE POLITICAL SYSTEM IN HONG KONG CONVERGED WITH THE BL AND WHETHER A SMOOTH TRANSITION
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