TNAG-1036-FCO40-1286-Future-of-Hong-Kong-1981 — Page 70

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Mr William J2.2

Mr Clift

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HKK 040/1

Reference

RECEIVED IN REGISTRY NO. 51 12 FER 1281

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PAPER ON THE FUTURE OF HONG KONG DESK OFFICER

INDEX

YAM

PA

REGISTRY

Action Taken

AWIZ

1. Mr Clift asked for a redraft of Annex B today. have amended the draft in accordance with Mr Clift's and Mr Exeter's minutes of 2 February (attached).

2. In his point (e), Mr Clift asked for an estimate of the sums of investment interest repatriated to the UK. CRE4 tell me that no work has been done on this aspect and would not be pinned down to any figure. It should be possible to extract figures from public companies like Jardines, but such data would be impossible to get from private concerns like Swires. Hong Kong puts no restriction on remittances abroad so in theory all interest could be taken out. However, Hong Kong is not a market to take money out of: the likelihood is that it would be ploughed back in.

3. I asked Mr Exeter for any figures there were on Hong Kong as an entrepot for countries other than China, but apparently there

are none.

A W Friar

3 February 1981

Hong Kong and General Department

Cust

Deturen

onx! Mw Qw hee argued the other might that the difference Buritish and break ith. from was what they did with their profits. He said the vul. over remit them to the

local Chinese over reumed the in

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