C
IN CONFIDENCE
time is right. In the meantime, they are content to leave things as they are, particularly in view of the practical value of Hong Kong to them. Hong Kong is a valuable direct source of convertible currency (estimated at between 30% and 40% of the total Chinese earnings of foreign exchange), mostly earned from foodstuffs, in-
It is also, as visibles and remittances to relations in China. China's only deep water port, an important entrepot.
The
8. During the Cultural Revolution widespread unrest throughout China spilled over into the Colony, especially in 1967/68. imprisonment of rioters in Hong Kong and the refusal to bend to Chinese pressure for their release led to the sacking of the Fritish Mission in Peking. China now displays a much more relaxed and pragmatic attitude towards Hong Kong and has been notably cooperative in recent years. There are substantial, and increasing, Chinese investments in Hong Kong and large numbers of Chinese officials in, for example, the New China News Agency (CNA) and the Bank of China
The Hong Kong and many trading and other organisations in Hong Kong. Government's regular contacts with the Chinese authorities are relaxed and easy;
every indication is that the Chinese do not wish to disturb the status quo. The Chinese Government who have emerged after the period of uncertainty that followed the deaths of Kao and Chou En-lai show every indication of adopting the latter's pragmatic
The Chinese approach to the development of the Chinese economy. Government's plans will call for the purchase of much expensive ad- vanced western equipment and technology in the next few years. could well be paid for, at least in part, from foreign exchange earnings derived from Hong Kong. China therefore has a vested interest in the Colony's prosperity in the foreseeable future. Recent statements by Chinese officials have been aimed at maintaining confidence and thus prosperity, most recently during the Governor's visit to Peking in the spring.
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IMMIGRATION FROM CHINA
They
9. Hong Kong's capacity to accept immigrants, even temporarily, is severely limited by the strain imposed on its essential services by an already, overcrowded, population-- Hong Kong is one of the most
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