TNAG-1255-FCO40-1588-Third-countries-and-the-future-of-Hong-Kong-1983 — Page 72

CONFIDENTIAL

Para 2, last sentence

Replace with:

'The association with sterling ended in 1972. Since 1974 the HK$ has been a fully independent floating currency.

"

Para 3 last sentence

Replace with:

'The Exchange Fund can intervene in the foreign exchange markets to smooth movements in the exchange rate, but cannot fix the rate at any particular level.'

Para 5

Financial System

Para 2

Delete.

4.

↑

Add to the' before 'UK'. Replace 'the acceptability public' with 'public acceptability in Hong Kong'.

First sentence: replace 'proposals' with 'principles'

Para 5

also 'priorities for' rather than 'priorities of'.

Para 6

These figures have been revised, and this might be noted (see Bremridge's speech to the Foreign Correspondent's Club on 16 September).

3 October 1983

Wick Hallott.

NO Hallett

ESID WH425B

233 5335

CONFIDENTIAL