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The HONGKONG STANDARD (October 15) quoted the Bank of America sian representative, Louis Saubolle as saying that "Hongkong is not likely to be used as a channel for foreign money being sent to China." He was commenting on reports that the Chinese Central Bank had announced its willingness to accept foreign cash deposits to help finance the country's foreign trade.
"I see no role for Hongkong here", he said, adding "he was sure the deposits would be placed in Europe, following the pattern of major imports into China".
The papers (October 18) quoted Sir John Keswick, Vice-President of the Sino-British Trade Council as saying that there were strong possibilities that China would turn to Britain for some imports. "And in the increased trade, Hongkong companies will have a role to play" he said adding that Hongkong companies could help the trade by "representing British companies".
Education
On October 15 the papers reported that China was once again opening its universities to Hong Kong students after a lapse of more than a decade.
The South China Morning Post (October 22) quoted an NCNA report as saying "a certain number of young people from Taiwan province, Hongkong and Macau as well as returned overseas Chinese will be accepted" adding that on graduation, "the young people will be sent to serve in places where they are needed most as directed by the State".
The paper said that after the People's Republic was founded in 1949, "thousands of students from Hongkong, Macau and overseas returned to China for tertiary education following a call from the Prime Minister, Mr. Chou En-lai".
It said that observers believed that local leftwing school students stood a better chance of being accepted into the Chinese universities. And this would offer them "the opportunity of being engaged in fields where their skills could be used elsewhere other than "clerical and office work to which these middle-school graduates at present are normally confined in Hongkong."
On November 11, both Ta Kung Pao and Wen Wei Po reported that "a group of new graduates this year from English and Chinese schools in Hongkong had gone to Shum Chun to apply for admission to universities in China”.
The papers reported on November 17 local scholars may be invited to deliver lectures at Chungshan University in Canton.
The South China Morning Post said the announcement had "generated considerable interest among local academics" and several interviewed felt it was a good idea.
Water
The Star (December 2) reported that the Government was to spend $100 million on a system capable of drawing more water from China when the need arose and that it would "enable Hongkong to, after consultation with the Chinese authorities, draw more water from them when required”.
It said temporary facilities were set up last year for the increased water supply from 18,500 million gallons to 24,000 million gallons and added "But a new agreement this year increased supply to 30,000 million gallons".
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