XN000022-1983-11-10 — Page 20

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THURSDAY, NOVEMBER 10, 1983

AS YOU KNOW ALREADY A NUMBER OF BRITISH COMPANIES ARE OPERATING AND BEGINNING THEIR EXPLORATORY PROGRAMMES AND I WENT TO CANTON WHERE I HAD DISCUSSIONS WITH BOTH THE LEADERS OF THE CHINESE OIL COMPANIES THAT WERE INVOLVED, BOTH THE COMPANIES AND THE SERVICING COMPANIES, AND ALSO OF COURSE HAD DISCUSSIONS WITH B.P. AND OTHER BRITISH FIRMS SUCH AS CABLE AND WIRELESS THAT WERE INVOLVED IN THOSE DEVELOPMENTS. AND I HAVE NO DOUBT AT ALL THAT IN THE COMING DECADE A GREAT DEAL OF ACTIVITY WILL TAKE PLACE BETWEEN BRITAIN AND CHINA AS FAR AS THESE DEVELOPMENTS ARE CONCERNED.

AND CAN I SAY THAT I HAVE NO DOUBT AT ALL THAT HONG KONG WILL HAVE A VERY SIGNIFICANT AND IMPORTANT ROLE TO PLAY IN THE DEVELOPMENTS AND ACTIVITIES THAT TAKE PLACE. WITH THE COMMERCIAL EXPERTISE, THE MANUFACTURING EXPERTISE, THE BANKING AND INSURANCE EXPERTISE THAT IS CONTAINED WITHIN HONG KONG AND THE CONNECTIONS WITH HONG KONG AND CHINA THERE IS NO DOUBT THAT A MULTITUDE OF BRITISH FIRMS WHO'LL BE ENDEAVOURING TO PARTICIPATE IN THE ACTIVITIES THAT TAKE PLACE IN THE OFFSHORE DEVELOPMENTS WILL BE DOING SO IN COLLABORATION WITH HONG KONG BUSINESS INTERESTS AND I HAVE NO DOUBT AT ALL THAT HONG KONG WILL HAVE A SIGNIFICANT BENEFICIAL IMPACT FROM THE MAJOR DEVELOPMENTS GOING TO TAKE PLACE.

I MIGHT SAY WE ALSO DISCUSSED DEVELOPMENTS IN OTHER SPHERES OF ENERGY WHICH IN THE FUTURE WILL BE OF GREAT IMPORTANCE.

BRITAIN IS IN A UNIQUE POSITION BECAUSE APART FROM OUR KNOWLEDGE IN OFFSHORE TECHNOLOGY WE ARE THE BIGGEST COAL PRODUCING NATION IN EUROPE AND WE PROBABLY HAVE THE BEST TECHNOLOGY IN DEEP MINE COAL AND WE ARE INDEED COMPETING INTERNATIONALLY FOR OPEN CAST COAL WITH CONSIDERABLE SUCCESS. WE ALSO HAVE A CONSIDERABLE KNOWLEDGE IN THE SPHERE OF NUCLEAR ENERGY AND NUCLEAR DEVELOPMENT AND WE HAVE A TECHNOLOGY OF CONSIDERABLE DIMENSIONS AS FAR AS THE GAS INDUSTRY'S CONCERNED. AND I BELIEVE AS THE OIL EXPLORATION TAKES PLACE THERE'LL BE FURTHER DEVELOPMENTS OF NATURAL GAS IN CHINA AND I BELIEVE THAT CHINA IS ALSO DESTINED TO DO FAR MORE IN THE FUTURE IN USING COAL AS A PRODUCER OF GAS AND THERETO I BELIEVE THERE'S A CONSIDERABLE SCOPE FOR ACTIVITIES BETWEEN BRITAIN AND CHINA.

IN HONG KONG I'VE HAD A VERY FULL PROGRAMME INCLUDING MEETINGS WITH SENIOR OFFICIALS, MEMBERS OF UMELCO AND SENIOR BUSINESSMEN AND I'VE BEEN ABLE TO BRING MYSELF UP TO DATE WITH DEVELOPMENTS IN HONG KONG PARTICULARLY, OF COURSE

OF COURSE, IN THE ENERGY AND ECONOMIC FIELDS. AND I'VE DISCUSSED FUTURE DEVELOPMENT PROJECTS AND PLANS AND OBVIOUSLY I'M DELIGHTED THAT I'VE HAD THIS OPPORTUNITY OF DOING SO.

AND INDEED WHEN I WAS IN CANTON IT WAS INTERESTING THE NUMBER OF FIRMS THERE WHO I DISCUSSED AND MET WITH WHO IN FACT WERE OPERATING USING HONG KONG AS A BASE FOR THEIR ACTIVITIES. I MENTIONED CABLE AND WIRELESS AND HOULDER DRILLING AND STARR OFFSHORE SERVICES WERE SOME SUCH COMPANIES.

/I'VE ALSO,

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