CONFIDENTIAL
Extract
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D. MEETING WITH THE FEDERATION OF HONG KONG
INDUSTRIES AND THE CHINESE MANUFACTURERS
ASSOCIATION
The following points were raised.
(i) Legislative Council The Federation of
Hong Kong Industries should be allowed to
nominate their own representation in
the Legislative Council.
(ii) E.E.C.
(iii) E.F.T.A.
(iv) Long Term Finance
Arrangements should be
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made for industrial loans at low interest
possibly from C.D. & W. funds.
It had
been made clear that even if Hong Kong
joined the Asia Development Bank she would
not be a beneficiary.
It was impossible
to get loans for a period of longer than
four years.
The Secretary of State said
this was a problem for the Hong Kong
Government to tackle.
(v) Hours of Work and Factory Legislation
Things were moving gradually and
adjustments were taking place naturally.
It would be wrong to discourage hard work
by untimely legislation. Hong Kong's
standards were better than those of any
other Asian country except possibly
Japan.
CONFIDENTIAL
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