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HKK100/3
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Para(s)
GPS 260
RESTRICTED
FM HONG KONG 250330Z FEB 83
TO PRIORITY FCO
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TELEGRAM NUMBER 268 OF 25 FEBRUARY 1983 -
HKK 040/
:
INDEX
INFO PRIORITY HONG KONG GOVERNMENT OFFICE LONDON, PEKING
THE BUDGET AND THE FUTURE OF HONG KONG: PRESS COVERAGE
1 MAR 1983
THE BUDGET HAS ATTRACTED PROMINENT COVERAGE AND SOME COMMENT IN THE COMMUNIST PRESS. THE REPORTING WAS STRAIGHTFORWARD, ALTHOUGH THE WEN WEI PO HIGHLIGHTED THE FS'S REFERENCES TO THE FACT THAT FOREIGN CURRENCY DEPOSITS IN HONG KONG HAD INCREASED (1.E. THAT THERE HAD NOT BEEN AN OUTFLOW OF FUNDS). IN THEIR EDITORIALS BOTH THE TA KUNG PAO AND THE WEN WEI PO CRITICISED THE INCREASES IN INDIRECT TAXATION AS NOT BEING CONDUCIVE TO THE CONSOLIDATION OF HONG KONG'S STABILITY AND PROSPERITY. THEY ALSO CRITICISED THE LACK OF ANY POSITIVE MEASURES TO HELP INDUSTRY. ONLY ONE PAPER, THE PRO-KMT KUNG SHEUNG DAILY, HIGHLIGHTED THE REFERENCE IN THE FS'S SPEECH TO UNCERTAINTY ABOUT HONG KONG'S LONG TERM POLITICAL FUTURE.
2. THERE HAVE BEEN NO MAJOR NEW DEVELOPMENTS IN THE PROPAGANDA CAMPAIGN ON THE FUTURE IN THE LOCAL COMMUNIST PRESS. THERE HAVE BEEN A NUMBER OF ARTICLES ON THE ECONOMY, OFTEN QUOTING HONG KONG GOVERNMENT STATISTICS TO INDICATE THAT THE PICTURE IS LESS BLEAK THAN MANY PEOPLE SAY. AS IN PAST ARTICLES, HONG KONG'S PROSPERITY IS ATTRIBUTED LARGELY TO SUPPORT FROM THE MAINLAND. OTHERWISE, THE GENERAL RHYTHM HAS BEEN MAINTAINED BY MEANS OF READERS' LETTERS EXPRESSING SUPPORT FOR CHINA'S POSITION AND ARTICLES BY GUEST COLUMNISTS EXPRESSING OPTIMISM ABOUT HONG KONG'S FUTURE PROSPECTS, OFTEN WITHOUT ANY SPECIFIC REFERENCE TO THE 1997 PROBLEM.
YOUDE
FUTURE OF HONG KONG
LIMITED
HD/HKGD
HD/FED
HD/PLANNING STAFF
HD/PUSD
PS
PS/MR HURD
PS/LORD BELSTEAD
PS/PUS
SIR J BULLARD
MR GIFFARD
MR DONALD
COPIES TO
SIR I SINCLAIR LEGAL ADVISER
NEWS D
Af?12
MR ROBERTS
MR COLES
NO 10 DOWNING STREET
MR MARTIN
ASSESSMENTS STAFF CABINET OFFICE
169
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