TNAG-0380-FCO40-426-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 72

CONFIDENTIAL

AT A TIME WHEN ECONOMIC AND INDUSTRIAL CONDITIONS IN HONG KONG

ARE FACING UP TO INCREASING COMPETITION FROOM OTHER COUNTRIES IN

ASIA, WE CAN ILL OFFORD TO SUFFER ANY FURTHER LOSS ON OUR STERLING

RESERVES IN LONDON.

THE CIVIC ASSOCIATION THEREFORE RESPECTFULLY REQUESTS YOUR

EXCELLENCY TO BRING OUR VIEWS TO THE ATTENTION OF THE FOREIGN AND

COMMONWEALTH OFFICE IN LONDON AND OTHER CONCERNED PARTIES UNQUOTE.

4. FCO PASS COPY TO HONG KONG GOVERNMENT OFFICE LONDON FOR

HADDON-CAVE.

NO RMAN-WALKER

ORWELL DISTRIBUTION:

FRD HKIOD

- 3 3-

G

CONFIDENTIAL