TNAG-1249-FCO40-1563-Press-reports-on-the-future-of-Hong-Kong-1983 — Page 102

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RE OF HONG KONG ADVANCE COPIES

9

Tyforts

MKK040/2

RECLIVED IN NEVNTA

1983

(63)

PS/PUS

PS/MR LUCE

MR DONALD

HD/HKD

HD/FED

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RESTRICTED

DESKEY 171200Z

Mr. Herm

FM HONG KONG 1709302 OCT 83

TO IMMEDIATE FOO

ست

COPY TO:

AJB

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MR COLES, No. 10 DOWNING ST

Mr. Man's interesting.

Yes. As I remember, poverions

Mrs. Priest references have behind a locally

elected the chinese govenor as a patent

chuse armored by Peline. One additional pont. at XI

think

TELEGRAM NUMBER 1537 OF 17 OCTOBER 1983

#17/16

WFO IMMEDIATE PEKING AND ROUTINE HONG KONG GOVERNMENT OFFICE LONDON, HONG KONG GOVERNMENT REPRESENTATIVES WASHINGTON, NEW YORK, BRUSSELS AND GENEVA

FUTURE OF HONG KONG: PRESS COVERAGE

See (273

1. THE MAIN STORY IN ALL PAPERS OVER THE HOLIDAY WEEKEND WAS THE 306

FINANCIAL SECRETARY'S ANNOUNCEMENT OF NEW MEASURES TO STABILISE

THE EXCHANGE RATE OF THE HONG KONG DOLLAR. THE THMING OF THE ANNOUNCEMENT WAS LINKED BY MOST PAPERS WITH THE NEXT ROUND OF SINOVBRITISH TALKS ON 19/20 OCTOBER. THE MEASURES WERE WIDELY WELCOMED IN THE INDEPENDENT PRESS. THE COMMUNIST NEWSPAPERS TOOK

A MORE CAUTIOUS LINE, SAYING THEY WERE BETTER LATE THAN NOVER BUT

DID NOT GO FAR ENOUGH IN CURBING SPECULATION. WE WEN PO CALLED FOR

AN OVERALL REFORM OF THE MONETARY SYSTEM AND URGED THE GOVERNMENT

TO REVISE THE MECHANISM FOR THE ISSUE OF BANK NOTES. TA KUNG PAO

ARGUED THAT COMMERCE AND INDUSTRY WOULD FACE DIFFICULTIES AS A

RESULT OF THE ANTICIPATED RISE AN INTEREST RATES AND DOUBTED

WHETHER USE OF THE FOREIGN EXCHANGE FUND WAS SUFFICIENT TO CURB.

SPECULATION.

2. ALL PAPERS ON 15 OCTOBER CARRIED ACCOUNTS GIVEN BY AN ELECTED

URBAN CONCILLOR, DR. DENNY HUANG, OF A MEETING WITH THE HEAD OF THE HONG KONG AND MACAU AFFAIRS OFFICE, JI PENGFE, ON 27 SEPTEMBER, HUANG SAID THAT JE HAD TOLD HIM CHINA WOULD: QUOTE DEFINITELY

NOT ALLOW HONG KONG TO BECOME INDEPENDENT BUT WOULD RECOVER SOV-

EREIGNTY AND ADMINISTRATIVE JURISDICTION MN JULY 1997 UNDER THE

PRINCIPLE OF HONG KONG PEOPLE TO RULE HONG KONG UNQUOTE. THE

LATTER ENTAILED A QUOTE HIGH DEGREE UNQUOTE OF SELF RULE: