TNAG-1242-FCO40-1555-Future-of-Hong-Kong-1983 — Page 151

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REGISTRY Action Taken

CONFIDENTIAL

TELELETTER

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FROM : R.J.T. MCLAREN, POLITICAL ADVISER, HONG KONG FILE REF : NFR

DATED 19 SEPTEMBER 1983

FOLLOWING FOR : R.D. CLIFT ESQ. HKD, FCO COPIED TO : A.C. GALSWORTHY ESQ., PEKING

7.

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2719

<< Of Thansa FED To Wather, RD of Matin Ass Staff Саботкий

FUTURE OF HONG KONG: VISIT TO HONG KONG BY HUAN XIANG. 1. HUAN XHANG HAS BEEN HERE SUNCE 5 SEPTEMBER. TWO OTHER MEMBERS OF THE CHINESE ACADEMY OF SOCIAL SCIENCES ARRIVED WITH HIM AND A FURTHER FOUR (INCLUDING XU DIXIN) CAME ON 6 SEPTEMBER. YOU WILL SEE REPORTS ABOUT THEIR ACTIVITIES HERE

IN DUE COURSE.

#

2. RICHARD MARGOLIS CONVEYED TO NONA AN OFFER TO HELP WITH ARRANGEMENTS FOR HUAN XIANG'S VISIT AND THAT OF MA HONG (PEKING N/R TELNO 101 OF 10 AUGUST) BUT WE HAVE RECEIVED NO RESPONSE. IN

PRESENT CIRCUMSTANCES WE HAVE NOT THOUGHT IT RIGHT TO RUN AFTER HIM, AND UNLESS HUAN XIANG STAYS HERE LONGER THAN ANTICIPATED IT WOULD NOT NOW BE PRACT CABLE TO ARRANGE FOR HIM TO CALL ON

THE GOVERNOR.

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coferola

3. WHEN I SAW THE U.S. CONSUL-GENERAL ON 16 SEPTEMBER HE TOLD ME THAT HE HAD LUNCH WITH HUAN XIANG AND SOME OF HIS PARTY.

(I AM NOT CLEAR WHO THE INITIATIVE CAME FROM). LEVIN SAID THAT HE HAD SOUGHT TO IMPRESS UPON HUAN THE EXTENT TO WHICH THE DECLINE

IN THE EXCHANGE VALUE OF THE HONG KONG DOLLAR WAS CAUSED BY LACK

OF CONFIDENCE. HUAN ARGUED THAT THE WEAKNESS OF THE HONG KONG DOLLAR WAS DUE TO ECONOMIC FACTORS, AND TO THE FAILURE OF THE

HONG KONG GOVERNMENT TO TAKE MEASURES TO STABILIZE THE RATE, BUT

EVENTUALLY ADMITTED THAT CONFIDENCE PLAYED A PART. LEVIN ALSO

SAID THAT HUAN AND HIS COLLEAGUES ARGUED THAT AMERICAN COMPANIES

COULD HELP TO MAINTAIN PROSPERITY BY INCREASING INVESTMENT IN HONG KONG, AND SUGGESTED THAT THERE MIGHT BE A JOINT SINO-AMERICAN EFFORT TO PROMOTE INVESTMENT. THEY APPARENTLY DID NOT ELABORATE.

SIGNED R.J.T. MCLAREN

NNNN

THIS IS A COPY

THE ORIGINAL HAS BEEN RETAINED

IN THE DEPARTMENT UNDER

SECTION 3 (4) OF THE

PUBLIC RECORDS ACT 1958

"

2079

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