XN000022-1991-04-09 — Page 11

10

TUESDAY, APRIL 9, 1991

AS

DISCUSSIONS

THE

ΤΟ

STAY

1 N

IS

USE

OF

MR HURD: WE WILL CONTINUE THIS IMMEDIATE ROUND OF LONG AS WE THINK IT'S USEFUL AND THE SAME IS NO DOUBT TRUE ON CHINESK SIDE.

TRIED 1

HAVE USE THE WORD EBB AND FLOW AND I DESCRIBE WHY I USE IT, BECAUSE IT HAS FROM TIME TO TIME IN THESE LAST FEW DAYS BEEN OUR IMPRESSION THAT THE DIFFERENCES WERE NARROWING QUITE HAD THE OTHER SUBSTANTIALLY

AT OTHER TIMES WE HAVE AND QUICKLY. IMPRESSION.

I HAVE AUTHORISED THE OFFICIALS TO WHY THAT'S PEKING FOR A FEW DAYS IN ORDER TO TRY AND ESTABLISH WHETHER THERE ROOM

I HOPE THAT THERE IS AND WE WILL FOR A QUICK AGREEMENT.

IT'S A QUESTION IT'S NOT A QUESTION OF SANCTIONS ON EITHER SIDE

THIS AS I CLEARLY PERCEIVED INTERESTS AND WE WILL CONTINUE TO PRESS.

THE AIRPORT SAY,

IS GOING TO BE BETWEEN NOW AND '97 AND NOT JUST ON

BUSINESS BUT MAY BE ON OTHER THINGS. IT'S GOING TO BE AN UPHILL

IN THE BECAUSE WHAT WE ARE TRYING TO DO IS MAKE A DIFFICULT CONCEPT

DIFFERENT JOINT DECLARATION WORK. I HAVEN'T HEARD ANYBODY PRODUCE A

TO THE CONCEPT. I HAVEN'T HEARD ANYONE PRODUCE A DIFFERENT ANSWER FUTURE OF HONG KONG, IF PEOPLE DO PRODUCE A DIFFERENT ANSWER, THEN WE BUT I AM WILL HAVE TO SAY WE ARE COMMITTED TO THE JOINT DECLARATION. STRENGTHENED IN SUPPORTING THE JOINT DECLARATION BY THE FACT THAT

ANYONE, HOWEVER FIFTEEN MONTHS OR WHATEVER, I REALLY HAVE NOT HEARD

HONG KONG. FIERCE THEIR CRITICISMS, SUGGESTING A DIFFERENT ROAD FOR

PICK OUR WAY SO LONG AS THAT IS SO WE HAVE TO TRAVEL THIS ROAD;

I THINK SOMETIMES THIS MAY TAKE SOME TIME. THROUGH THE OBSTACLES;

IT MAY THAT IS A FAMILIAR THOUGHT TO MANY BUSINESSMEN IN HONG KONG.

WHAT WE ТАКЕ SOME TIME AND THE THING IS TO PERSEVERE AND THAT IS INTEND TO DO BASING OURSELVES ON THE TWO PRINCIPLES WHICH I DEFINED AT

BOTH BEGINNING,

NOT THE

OF

BE WHICH SEЕЕМ ТО

CRUCIAL, WHICH DO OTHER CONTRADICT BACH

AND IT'S IN THE

OF THOSE RECONCILING

TWO AND CONSULTATION WITH CO-OPERATION PRINCIPLES

CHINA AND THE EFFECTIVE AUTHORITY OF THE HONG KONG GOVERNMENT LIES.

—

IN

THAT THE WAY FORWARD

ΤΟ

FOO CHOY PENG (STRAITS TIMES SINGAPORE): YOU KEEP REFERRING

GOVERNMENT, IMPORTANT MATTERS THAT NEED CONSULTATION WITH THE CHINESE

KONG BUT THERE WILL BE MANY OCCASIONS IN THE FUTURE ON WHICH THE HONG

CHINA FEELS GOVERNMENT FRELS IT DOES NOT HAVE TO CONSULT CHINA AND

A THESE MATTERS NEED TO BE CONSULTED. SO IS THERE A FINAL ARBITER OR GUIDING PRINCIPLE ON THIS TO PREVENT FUTURE CONFRONTATION?

ONE OF MY THERE IT IS. PRECISELY TO

MR HURD :

NO,

BUT THERE IS MACHINERY OF COURSE. CONCERNS HAS BEEN TO REACTIVATE THE JOINT LIAISON GROUP. 1T IS THE MACHINERY SET UP UNDER THE JOINT DECLARATION

PILE OF DEAL

SORTS OF MATTERS AND IT'S GOT A THESE WITH WAITING TO BE SOLVED AND I HOPE THAT IT MAY NOW MAKE BETTER SPEED.

PROBLEMS

THE POINT PRIVATE

JOHN ELLIOTT (FINANCIAL TIMES); COULD I FIRST MAKE THAT VERY FEW OF US IF ANYBODY HAS HEARD OF THIS 25 PER CENT

WITH SECTOR FIGURE BEFORE YOU BEGAN TO PRODUCE IT AFTER YOUR MEETINGS

HAVE

IT FOUND

VERY I THE GOVERNMENT.

HAVE NEVER HEARD IT AND I

ΤΟ FIND ANY DIFFICULT IN PHONE CALLS IN THE LAST COUPLE OF DAYS

THE YOU CAN EXPLAIN IT TO ME. COULD I ASK OFFICIAL WHO

QUESTION. GIVEN THE FACT THAT THERE ARE $73 BILLION IN THE MAIN FISCAL RESERVES,

PLUS THE LAND AND ABOUT THE SAME AMOUNT AGAIN IN THE EXCHANGE FUND,

WHICH FUNDS BEING BUILT UP, GIVEN THE FACT PLUS THE S.A.R. LAND FUND

GOVERNMENT HAS HAS BEEN BUILT UP, AND GIVEN THE FACT THAT THE U.K.

WHY CONTROL OVER PART OF THE EXCHANGE FUND AND WHAT HAPPENS TO

THE GIVING DON'T YOU CLEAR UP THIS DIPLOMATIC HASSLE BY JOINTLY

GOVERNMENT FOR THE FUNDS TO BE USED WITH THE AIRPORT TO BE BUILT?

AND

IT, AUTHORITY FOR THE

/MR HURD