XN000022-1987-10-29 — Page 2

THURSDAY, OCTOBER 29, 1987

GOVERNOR GIVES REASSURANCE ON ORDERLY MARKET OPERATIONS

REASSURED THE PEOPLE OF BEEN PUT IN PLACE

THE GOVERNOR, SIR DAVID WILSON, HAS HONG KONG THAT THE PACKAGE OF MEASURES WHICH HAS WOULD ENABLE ORDERLY MARKETING TO CONTINUE.

SUFFERED

"NOBODY SHOULD BE IN ANY DOUBT ABOUT THE ESSENTIAL DYNAMISM THE HONG KONG ECONOMY. WE HAVE BEEN DOING VERY WELL. WE HAVE BECAUSE WE HAVE BEEN AFFECTED BY WHAT IS HAPPENING IN THE REST OF WORLD, HE SAID.

OF

THE

FROM A 10-DAY THIS SORT

SPEAKING ON HIS RETURN THIS (THURSDAY) MORNING VISIT TO THE UNITED STATES AND LONDON, HE SAID A CRISIS OF INEVITABLY SHOWED UP WEAKNESSES IN THE SYSTEM.

H

'WE'VE BEEN NO EXCEPTION TO THAT. WHAT WE MUST DO IS FROM THOSE WEAKNESSES, PUT THEM RIGHT AND EMERGE

TO AT STRONGER THAN WHEN WE WENT INTO IT AT THE BEGINNING,

THE END ++ HE ADDED.

KONG

LEARN IT

OF

STOCK

ASKED HOW CONFIDENCE COULD BE RESTORED IN THE HONG EXCHANGE IF A COMPANY IN WHICH THE CHAIRMAN HAS BEEN SUED BY THE FUTURES GUARANTEE CORPORTATION, SAID THAT CONFIDENCE IN STOCK MARKETS THROUGHOUT INEVITABLY BEEN AFFECTED BY WHAT WAS HAPPENING OVER THE PAST 10 DAYS.

HAS AN INTEREST, THE GOVERNOR THE WORLD HAD

THIS IN TERMS OF IT IN TERMS OF IF THERE ARE RATIONALLY AND

"I DON'T THINK IT'S VERY USEFUL TO LOOK AT PERSONALITIES. WHAT

WE MUST DO IS TO LOOK AT STRUCTURES, AND IF THERE ARE FAILURES OF THE STRUCTURES, FAILURES IN THE SYSTEM, THEN WE MUST EXAMINE THOSE OBJECTIVELY AND PUT THEM RIGHT.

STRUCTURES

"LET US REMEMBER, AFTER ALL, THAT SOME OF OUR BACK TO ABOUT 14 YEARS AND IT'S NOT VERY SURPRISING THAT SOME OF NEED TO BE BROUGHT UP-TO-DATE. HE SAID.

INSTRUCTIONS

DATE

THEM

AS

HE

WHEN ASKED IF THE BRITISH GOVERNMENT GAVE ANY TO WAYS OF SOLVING HONG KONG'S FINANCIAL CRISIS, THE GOVERNOR SAID HAD DISCUSSED THE PROBLEM WITH THE FOREIGN SECRETARY MINISTERS SUCH AS LORD GLENARTHUR.

AND WITH OTHER

"THEY DID NOT GIVE ME ANY INSTRUCTIONS. ON MATTERS LIKE FINANCIAL MATTERS, HONG KONG LOOKS AFTER ITS OWN AFFAIRS,

THIS,

"BUT I THINK IT WAS USEFUL TO BE ABLE TO WHAT WAS HAPPENING, ALSO TO BE ABLE TO TALK IN LONDON TO A VERY

DISCUSS WITH THEM AUDIENCE AT THE DINNER GIVEN BY THE TRADE DEVELOPMENT COUNCIL,

LARGE

ABLE TO SAY TO THEM SOME OF

ΤΟ BE THR UNDERLYING FACTORS WHICH REALITIES OF HONG KONG, AND WHICH

ARE THE ONE NEEDS ΤΟ BEYOND THE IMMEDIATE THINGS THAT HAVE BEEN AFFECTING US OVER THE

LOOK AT OVER AND

10 DAYS."

LAST

/SIR DAVID