TNAG-1247-FCO40-1561-Press-reports-on-the-future-of-Hong-Kong-1983 — Page 77

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Over the weekend, there was a debate over the self-rule proposition between Kung Sheung Daily News and a Wen Wei Po commentator. In its editorial, Kung Sheung agreed with remarks by the Secretary for Home Affairs that HK people were now running HK, citing as examples public participation in District Administration, localisation of the civil service and government by consensus. But the Wen Wei commentator disagreed, saying that the person running the territory de facto was the Governor, who was appointed by the Queen and responsible to Parliament.

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DELEGATION TO CHINA:

The HK Economic Journal on 22 March identified members of a delegation which it earlier reported would visit China in mid-May. The 12-member group would be headed by Legco member, Mr. Allen Lee. Other members included Legco members, Mr. Stephen Cheong (deputy leader) and Mrs. Selina Chow; Mr. Martin Lee, Q.C.; a member of the Medical Board, Dr. Natalis Yuen; the president of the Hong Kong Institute of Architects, Mr. Edward Ho; the Managing Director of the Amoy Canning Corporation, Dr. Christopher Leung; a journalist of the Far Eastern Economic Review, Miss Marry Lee; Dr. Philip Kwok and Mr. Albert Kwok, of Wing On Holdings; and Mr. Lee Kuo-nun, a barrister.

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ENGLISH-LANGUAGE PRESS:

The 'Between these columns' feature in the SCMP on 26 March reported that Britain would shortly be looking for a new ambassador in the talks on the future of HK as Sir Percy Cradock, who is 60 in October, may be interested in an academic posting at Cambridge University. His absence would be a loss at this time since up to now he had been the man most closely involved in the talks. Successors mentioned were Mr. Alan Donald and Dr. David Wilson, both former Political Advisers in HK. The article also said the understanding had always been that once it was useful for Sir Edward Youde to visit. Beijing he would take part in the talks; so far, however, there had been no announcement of such a move though reports circulating among well-informed circles last week said the Governor may go up as soon as the middle of April for an exploratory visit. What effect this would have on discussions was not clear, but the general feeling on both the Chinese and British sides was that the process could take a long time, particularly in working out details. While China was still pinning its hopes on a quick acceptance of sovereignty by Britain, it was acknowledged that their own ideas on HK's future were at this stage were so sketchy and generalised that time would be needed to work them out.

The Commissioner for Securities, Mr. Robert Fell, said at the contract signing of Exchange Square that $2.5 billion in foreign investments entered local markets in the first few weeks of the year and, at the end of last year, total deposits in HK were $234 billion compared with $164 billion in 1981, an increase of 43 pc. Mr. Fell said foreign currency investments went up to $99 billion at the end of last year from $29 billion in 1981. There were those who talked glibly of capital fleeing HK capital frightened into various forms of escape by the cloud of 1997, Mr. Fell said, adding that in fact a healthy amount of capital was still coming into HK.

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