TNAG-1263-FCO40-1606-Parliamentary-contacts-on-the-future-of-Hong-Kong-1983 — Page 148

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DSR 11 (Revised)

DRAFT:

FROM:

minute/letter/teleletter/despatch/note

Secretary of State

DEPARTMENT:

SECURITY CLASSIFICATION]

TO:

Top Secret

Secret

Confidential

Restricted

Unclassified

TEL. NO:

George Walden Esq, CMG MP

House of Commons

London

SW1A OAA

PRIVACY MARKING

.In Confidence

SUBJECT:

CAVEAT......

TYPE: Draft/Final 1+

Reference

Your Reference

Copies to:

:

Enclosures-flag(s)...........

"

Thank you for your letter of 21 September and

for taking the trouble to let us see your piece

on Hong Kong. I hope it gets published because I think it could be quite helpful, particularly at

a time like now when there is a good deal of unhelpful

comment flying around.

The only observations I would make are as follows:-

}

a) Page 1 I quite agree that Peking ought to be

more concerned about the state of the Hong Kong dollar.

The present problem has been brought about almost

entirely because of political uncertainty over the

future and particularly because of unease caused by

China's propagation of its Special Administrative Region

plan. There are only limited steps that the Hong Kong

Government can take to ease the situation. Some

measures have, as you know, already been taken.

b) Page 1: The percentage of China's foreign exchange earnings obtained from Hong Kong is generally estimated

at about 30%, reducing to about 20% if re-exports are

excluded.

c)...