TNAG-0380-FCO40-426-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 109

SECRET

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SPEAKING NOTE

(For discussion outside the main meeting.)

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REFORM AND FINANCIAL MANAGEMENT AND INSTITUTIONS IN HONG KONG

Although HMG continue to attach importance to the noed

for reform of the monetary institutions in Hong Kong, the

Minister should do no more than remind the Governor of this

if a suitable opportunity arises. We would not wish to risk

Hong Kong's consideration of our general offer (on the Sterling Agreements) being prejudiced by Hong Kong's sensitivity on the reform question being upset.

2*

It will be for consideration when and how the question

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of reform might best be followed up substantively.

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SECRET