TNAG-1249-FCO40-1563-Press-reports-on-the-future-of-Hong-Kong-1983 — Page 198

ENSURING ADJUSTMENT AND CREATING THE CONDITIONS FOR THE- PROCESS TO BE RELATIVELY SMOOTH, THE RULES OF THE INTERNATIONAL TRADE SYSTEM, AS SET OUT IN THE GATT, ARE A PARTICULARLY VALUABLE SAFEGUARD FOR THE INTERESTS OF THE DYNAMIC

ECONOMICS OF THE ASIAN-PACIFIC REGION, + IT SAID.

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THE STAR REPORTED IN AN EXCLUSIVE STORY THAT THE BRITISH MINISTER RESPONSIBLE FOR HONG KONG AFFAIRS, MR RICHARD LUCE, IS TO MAKE HIS FIRST FAMILIARISATION VISIT TO HONG KONG ON SEPTEMBER 26 AND 27. THE MAIN PURPOSE OF THE VISIT, ACCORDING TO THE PAPER, WAS TO COLLECT THE VIEWS OF VARIOUS SECTORS CONCERNING THE FUTURE OF HONG KONG OTHER THAN TO BE BRIEFED BY THE GOVERNOR, SIR EDWARD YOUDE. AND THE BRITISH AMBASSADOR TO PEKING, SIR "PERCY CRADOCK, ON THE SINO-BRITISH TALKS. HE WILL MEET UNOFFICIAL MEMBERS OF THE EXECUTIVE AND LEGISLATIVE COUNCILS ON THE FIRST DAY OF HIS VISIT AND THEN MEET

REPRESENTATIVES OF THE BUSINESS AND INDUSTRIAL SECTORS THE NEXT DAY. THIS WILL BE FOLLOWED BY A PRESS

CONFERENCE BEFORE HE RETURNS TO LONDON.

THE HK STANDARD SAID IN ITS FRONT PAGE LEAD STORY THAT A VICE DIRECTOR OF THE BANK OF CHINA, MR JIANG WENQUI, HAD PLEDGED FULL SUPPORT TO LOCAL INDUSTRIALISTS. MR JIANG CALLED ON INDUSTRIALISTS TO EXPAND THEIR INVESTMENTS WITHOUT, BE ING BOGGED BY THE 1997 QUESTION. +WHATEVER THE INDUSTRIES NEED, CHINA'S BANKING GROUP

HERE WILL DEFINITELY GIVE STRONG SUPPORT IN ORDER TO PROMOTE THEIR DEVELOPMENT,+ MR JIANG WAS QUOTED BY THE

IF PAPER AS SAYING. +WE HAVE TO FACE THIS PROBLEM. IT IS NOT QUICKLY RESOLVED, THE DEVELOPMENT OF

INDUSTRIES WILL BE HAMPERED. + HE SAID. MR JIANG WENT ON TO SAY THAT HONG KONG WAS EXPERIENCING A MAJOR ECONOMIC ADJYMENT AND HE WAS CONFIDENT THE TERRITORY WOULD BE MORE PROSPEROUS AFTER THIS PERIOD. HE NOTED

THAT THE HONG KONG GOVERNMENT HAD, IN THE PAST, TAKEN.. VARIOUS MEASURES TO HELP LOCAL INDUSTRIES. THIS, HE SAID, SHOULD BE CONTINUED IN THE FUTURE.

量

HANG SENG INDEX TODAY CLOSED AT 955.24 (PREVIOUS 965.94). EXCHANGE RATE INDEX WAS 71.3 (PREVIOUS.71.3), AND THE U.S. DOLLAR RATE WAS 7.58 (PREVIOUS 7.595).

STERLING EXCHANGE RATE 11.295

28LOL HKGOVT G

61190 HKGIS HX