TNAG-1247-FCO40-1561-Press-reports-on-the-future-of-Hong-Kong-1983 — Page 78

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The SCMP reported on 22 March that China had again invited local residents to Beijing to hear their views on the 1997 issue. Two groups would go, one in April, the other in May. A member of one, who asked not to be identified, said they expected to see top Chinese leaders, apart from the director of the Overseas Chinese Division of the State Council, Mr. Liao Chengzhi, who had previously received local delegations. The paper described the members of the two groups as mostly intellectuals and businessmen.

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UK PRESS:

There was little reporting of HK affairs in the UK press, and what there was mainly concerned financial matters. One report of interest said the British Government was believed to have had second thoughts over its proposed loans for students. The sale by HK Land of its HK Telephone shares was well reported and the Financial Times had an editorial on 25 March about the stop-go nature of Britain's trade with China, relevant in view of the recent cancellation of an arms order and the signing of the nuclear power plant memorandum of understanding.

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OTHER ITEMS:

Investment in Telephone Co.: UK-based Cable and Wireless PLC has acquired HK Land's 34.8 per cent stake in HK Telephone for $1.4 billion. C & W Chairman, Mr. Eric Sharp, said the substantial investment reflected the firm's confidence in the prospects of economic growth in the Far East and HK. The Financial Daily said editorially the investment was yet another positive involvement of the British Government in HK's economy and China's modernisation. The paper noted that Britain, through C & W, had secured contracts to provide micro-wave communications linking HK, Shenzhen, Guangzhou, Swatow and Hainan and had acquired a 75 per cent stake in the Macau Telecommunications Bureau.

Verbatim report: The HK Economic Journal published what it described as a verbatim account of the meeting between NPC Vice-chairman, Mr. Liao Chengzhi, and the Heung Yee Kuk delegation during their visit to Beijing in January. In a question and answer session, Mr. Liao outlined China's intention of turning HK into an SAR and spoke about the self-rule proposition which had already been reported in the local press. He was also reported to have told the delegation that the Oriental Daily News had misinterpreted his ball-game analogy as China's proposals to settle HK's future. The report said the delegation was anxious to seek a meeting with Mr. Deng Xiaoping and they would not mind going to Beijing again if such a meeting could be arranged.

HKGCC group returns: The HK General Chamber of Commerce delegation to China returned on March 22. During their two-week visit, members of the group told Chinese officials that control on foreign exchange might impede foreign investment in the country. They had discussed the role HK would play to help in China's modernisation but did not touch on the 1997 issue.

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