Direct line
PRC Gray Esq
HM Treasury
Parliament Street
LONDON
SWIP 3AG
PA
John
Pls speak if you
mr w
цветрец
O/R
are
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an
•
CONFIDENTIAL
On 1914.
COMMERCIAL IN CONFIDENCE
HKB
090/1
RECEIVED IN REGISTRY
24
Department of Trade and Industry
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Our ref
Your ref
Date
25 March 1993
Dear Paul
IMPLICATIONS OF HONG KONG ECONOMIC AND FINANCIAL POSITION
Thank you for your letter of 1 March, and for copying to me also your letter of 22 March to Peter Ricketts with your interim report to the Chancellor.
As agreed I have carried out a further trawl within the DTI to try to pull together the information available to us about the exposure of the companies previously listed to the scenario you outline. It is worth recalling again that the coverage for this particular exercise is British companies not primarily Hong Kong ones. So we are not looking at the Jardines, the Swires, the Hutchisons, though they obviously stand also to be badly affected by the scenarios we are considering.
sense,
The results, on the position of the British companies in this
are not as clearcut as we might like, but that is not really surprising. As a Department we would not usually expect to have the detailed commercial information about these companies for us to be able to second guess what are very sensitive strategic assessments for the companies most exposed. But rather than try to refine further internally it is perhaps best to let you have the results of our trawl and I attach them.
dti
Cont/...2
the department for Enterprise
Recycled Paper
888-273