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Mr Donald
HIR
040/1
CONFIDENTIAL
52
Floral1
16
HONG KONG MATTERS
You will be more up-to-date than I on most Hong Kong matters. There are, however, two that you should know about.
1.
2.
Monopolies and Mergers Commission Report on bids for the Royal Bank of Scotland.
The Commission's Report recommending that both bids be rejected has been accepted by Mr Biffen, with the Prime Minister's reluctant agreement, and was published on 15 January The Report does not contain any objectionable comment on Hong Kong's future or financial management. The publication of the Report had to be brought forward to 15 January as its contents were widely leaked. Mr Biffen has instituted an investigation into this.
3.
Future of Hong Kong. A draft submission to the Secretary of State with a draft minute from him to the Prime Minister will be ready at the beginning of next week and I should welcome an early opportunity to discuss it with you. The Ambassador's comments on the talks in Peking, with which I agree, are in Peking Telegram No 22.
Din
R D Clift
15 January 1982
Hong Kong and General Department
CONFIDENTIAL
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