SECRET
Sterling Assets
A surplus of £9 million is budgeted for in the current year.
32. Hong Kong is the largest single holder of sterling assets.
These assets stood at £45 million at the end of 1969,
comprising official funds (£255 million) and private funds
(£189 million) held for residents and banks. A further
$18 million was recently transferred to the UK by the long
Kong Government.
SOCIAL SERVICES
33. The great post-war increase in Hong Kong's population
(largely by immigration from China) hes involved a formidable
programme of expansion in the social services
housing,
Although
health services, education, water supplies.
mussive advances have been made in these fields in the last
twenty years, a great deal remains to be done and there are
some formidable problems (not confined to financial
considerations) involved.
Hong Kong Department 23 June, 1970
SECRET
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