TNAG-1255-FCO40-1588-Third-countries-and-the-future-of-Hong-Kong-1983 — Page 155

CONFIDENTIAL

The Foreign Exchange Market in Hong Kong is the third largest in the world and the largest in Asia. Major influences on its steady growth have been the absence of all exchange controls and the knowledge that no such controls will be introduced.

There are some 135 licensed banks in Hong Kong, of which 100 are based abroad. More than 100 other foreign banks have representative offices. There, are also some 350 DTCS. These institutions between them have assets amounting to some $950 billion.

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CONFIDENTIAL

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