XN000022-1991-07-04 — Page 19

THURSDAY, JULY 1, 1991

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GOVERNOR: WELL, I THINK BOTH SIDES REALISED THAT UNLESS WE WERE GOING TO GET AN AGREEMENT ON THIS, THE AIRPORT PROJECT WAS GOING TO SLIP, AND THAT THERE WAS A NEED TO TRY TO GET A SENSIBLE AGREEMENT. I'M NOT GOING TO LIST WHAT THE FINAL SORT OF POINTS AT ISSUE WERE, BUT I THINK THERE WAS A COMMON UNDERSTANDING THAT HONG KONG DOES NEED THIS NEW AIRPORT PROJECT AND WE NEEDED A SENSIBLE ARRANGEMENT TO GET AHEAD WITH IT.

MEGHAN COX: BUT ISN'T IT MORE IN HONG KONG'S AND BRITAIN'S

INTERESTS TO GET THE AIRPORT GOING THAN IT WAS IN CHINA'S?

GOVERNOR: IT DEPENDS HOW YOU CONCEIVE OF CHINA'S INTERESTS. MEAN I, MYSELF, WOULD SAY THAT IT IS VERY MUCH IN CHINA'S INTERESTS THAT THIS AIRPORT SHOULD GO AHEAD. IF CHINA WANTS TO SEE A PROSPEROUS HONG KONG AFTER 1997, WHICH I'M SURE IT DOES, AND IF THE DEVELOPMENT OF SOUTHERN CHINA IS SOMETHING OF IMPORTANCE TO THE CHINESE LEADERSHIP, AND I AM SURE IT IS, THEN THIS AIRPORT IS SOMETHING THAT'S VERY IMPORTANT TO CHÍNA AS WELL AS TO US. THE BENEFIT, I MEAN THE REAL BENEFIT OF THIS, COMES TO THE POST-1997 HONG KONG.

OSWALD KWAN (ORIENTAL DAILY NEWS): ITEM (E) OF THE MEMORANDUM 25 BILLION IS THE LEVEL OF THE FISCAL RESERVES HAS BEEN MENTIONED, AND SO WOULD THERE BE ANY CHANNEL, SAY SUBMITTING A FINANCIAL REPORT REGULARLY TO THE PRC GOVERNMENT, TO ENSURE THE CHINESE GOVERNMENT THAT OUR FISCAL RESERVES WILL NOT GO BELOW THAT LEVEL?

GOVERNOR: NO, THERE IS NOTHING LIKE THAT PLANNED IN THE MEMORANDUM, NO.

STEVE GLAIN (ASIAN WALL STREET JOURNAL) : I HAVE TWO QUESTIONS, DO YOU WANT THEM ONE AT A TIME, OR?

GOVERNOR: UNLESS THEY ARE CLOSELY LINKED AND SIMPLE, YES.

NOW

STEVE GLAIN: OKAY, I'LL GIVE THEM TO YOU ONE AT A TIME. THAT AN AGREEMENT HAS BEEN INITIALLED, ARE YOU AT LIBERTY TO SAY WHEN THE FIXED-CROSSING PROJECT WILL BE PUT OUT TO TENDER?

GOVERNOR: THE FIXED-BRIDGE?

DO YOU MEAN THE TSING MA BRIDGE?

STEVE GLAIN: WHEN WILL THAT BE PUT OUT TO TENDER?

GOVERNOR: WE WILL BE GOING AHEAD WITH THAT AS SOON AS WE CAN. FOR THAT WE NEED FIRST OF ALL TO GO TO THE FINANCE COMMITTEE OF THE LEGISLATIVE COUNCIL, AND THE PLAN IS TO DO THAT I THINK WITHIN THE NEXT COUPLE OF WEEKS OR SO.

STEVE GLAIN: AND FORGIVE ME IF THIS HAS ALREADY BEEN ASKED BUT YOU MENTIONED TODAY THAT YOU HAD NO PROBLEM WITH CONSULTATION WITH CHINA. IF THAT IS THE CASE, WHY DIDN'T YOU TAKE THIS UP WITH THEM BEFORE YOU MADE THE ANNOUNCEMENT IN NOVEMBER OF 1989?

/GOVERNOR: