TNAG-1039-FCO40-1289-Future-of-Hong-Kong-1981 — Page 193

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INDEX

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lo 23.7 13.

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Optimistic Speeches on Hong Kong's Future

See

152

During the past month the local press has widely reported speeches by prominent businessmen in Hong Kong about the territory's relationship with China and the future beyond 1997. The speeches themselves, and the media's interpretation of them, were generally optimistic and of a "confidence-building" genre. An important factor, however, is the likely significance attached to these speeches by NCNA and Peking.

2.

The first,

picked up and reported fully by the Wen Wei Po (WWP - translation attached), was an address by Fung King-hey, Chairman of Sun Hung Kai Securities, at a meeting of the Pacific Basin Economic Council on 6 May. Fung underlined his confidence in China's maintaining stability and prosperity in Hong Kong provided Hong Kong continued to contribute to China economically and respected China's political will. Since the speech is fully reported by a newspaper such as Wen Wei Po, you may wish to read the enclosed translation.

3.

Both WWP and Ta Kung Pao reported a speech by Sir Y K Pao at the Foreign Correspondent's Club on 12 May (translation of WWP story enclosed). This inspired editorials about Hong Kong's future across the whole political spectrum of the local press. The left-wing and central or independent newspapers reflected Sir Y K's optimism and agreed that there should be no cause for anxiety over 1997. The view from the right-wing, predictably, was that verbal assurances by Chinese leaders were not legally or morally binding and that confidence in them was therefore misplaced.

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14.