CONFIDENTIAL
12
* The Standard in a despatch of 8 February from its London correspondent
reported that British financial analysts had made it clear at the week-end that they expected HK's political future to be settled on the basis of a satisfactory Sino-British compromise and HK to resume its place as a prime centre for high growth investment.
*
Two scholars from an Australian University, who have visited Shenzhen and Zhuhai, said Chinese authorities were to take measures to counter drastic drop in investments from HK. Domestic joint ventures among Chinese enterprises within the SEZ and those in other parts of the country were now being encouraged.
13.
LOCAL MAGAZINES:
The 16 February issue of the quasi left-wing magazine, Wide Angle, contained two commentaries which criticised Mr. Hilton Cheong-leen and Mr. Ian Wrigglesworth for saying they wanted to extend British administration here. While alleging Mr. Cheong-leen's call for extending the lease for 30 years was motivated by self interest, one commentary also hit out that the assurances given by the British, Chinese and HK governments only looked after capitalists' interests. None of these pledges had taken account of the interests of
the two million strong working class in HK. The three-legged stool could not stand up firmly without the fourth leg - the support of the working class. In an article on 19 February the Wen Wei Po drew attention to this criticism of the three-legged stool. Another commentary asked whether Mr. Wrigglesworth was encouraging HK people to betray nationalism, i.e. to desert China and join Britain by suggesting that it would be in the interest of all parties concerned to allow British administration here to continue? It was a propaganda gimmick in response to China's sovereignty claim. China would be HK's lifeline in the future
because, on reversion of sovereignty, supplies from China would be more steady; the country as a market would provide a major outlet for HK's products; and HK's industry would move towards advanced technology as a result of South China Sea oil exploration.
A third commentator said a transitional period was needed to make the self-rule formula a success because only then would HK people be able to learn and accept self- administration. The consequences would be beyond imagination if Britain pulled out hastily and left this place in a mess. Hence, from a practical viewpoint, the three-legged stool could be a feasible temporary measure. But advocates of this theory used it to perpetuate Britain's
interests and status here.
The magazine also contained an article which gave a detailed account of how Britain took over the New Territories. It said, though the treaty for leasing the New Territories was signed on 1 July, 1898, the actual takeover was not effected until 16 April, 1899, for a number of reasons. First, a British survey team met with resistance from about 1 000 Tang
CONFIDENTIAL
No comments yet.
Private notes are available after approval.