TNAG-1237-FCO40-1550-Future-of-Hong-Kong-1983 — Page 35

Liao

PEH

I would like to offer you a warm welcome.

We are very honoured to have a meeting with you.

Liao

I hope you have a pleasant stay in China.

PEH

This is my first rrip to Beijing.

Liao

You must come often in future.

PEH

I visited the Great Wall and climbed up to the fourth

tower. Also I have been to the Imperial Palace and was very impressed by your treasures.

Liao

Yes, we have many old treasures and a lot to see.

PEH

Liao

PEH

Q W Lee and myself don't come often enough to China.

We thought we ought to take this opportunity to call on you to explain about Wayfoong and the Hang Seng Bank.

Good, I would like to hear.

the

Many people misunderstand role of HSBC. Many people think HSBC is a Government Bank and a Central Bank. I

have to explain that we are a commercial bank although, fortunately, one of our best customers is the Hong Kong

Government. We operate in 50 countries as a commercial bank. One of our best friends is the Bank of China. The Government and HSBC in Hong Kong is like an uncle and nephew. Sometimes the uncle advises the nephew on what to do. More often than not the nephew does it, but sometimes the nephew ignores the advice. It is a natural and comfortable relationship.

Sometimes HSBC appears to act as if it is a Central

If the Hong Kong economy runs into difficulties

Bank.