TNAG-1313-FCO40-1688-Future-of-Hong-Kong-views-and-involvement-of-Australia--Cana-1984 — Page 224

CONFIDENTIAL AND PERSONAL

97

35301

1

TT HONG KONG

GRS 508

CONFIDENTIAL

PERSONAL

TELELETTER

FROM CO HUM, HKD FCO

FILE REFERENCE

HKKC04016.

RECEIVED IN YE

INDEX

- 7 AUG 1984

17 CH7/8

DATED 27 JULY 1984

сла

+612

See

98

FOLLOWING FOR R MARGOLIS, ACTING POLITICAL ADVISER, HONG KONG AND

PAB THOMSON, PEKING

FOLLOWING IS TEXT OF TELELETTER RECEIVED FROM R H BAKER, BHC

OTTAWA:

BEGINS: FUTURE OF HONG KONG

1.

SENIOR CANADIAN OFFICIALS HAVE BEEN GRATEFUL FOR OUR

BRIEFING OVER RECENT WEEKS. THEIR COMMENTS HAVE UNDERLINED THE

DEGREE OF CANADIAN INVOLVEMENT WITH HONG KONG, AND THEIR

PREOCCUPATIONS, ON THE FOLLOWING LINES.

FINANCIAL

2. THERE ARE FIVE MAJOR CANADIAN BANKS IN HONG KONG WITH LARGE

INVESTMENTS: AND A WHOLE SERIES OF CANADIAN FIRMS.

CANADIAN CITIZENS

3. PARTLY LINKED TO THE PRECEEDING PARAGRAPH, THERE ARE AT

LEAST 10,000 CANADIAN CITIZENS IN HONG KONG MOSTLY PEOPLE OF

HONG KONG ORIGIN WHO HAVE TEMPORARILY RETURNED THERE.

'ENTREPRENEURIAL IMMIGRATION'

4. THE FLOOD OF APPLICATIONS FROM PEOPLE IN HONG KONG WITH

FUNDS TO INVEST IN CANADA, AND WISHING TO IMMIGRATE FOR THAT

PURPSOE, IS CURRENTLY RUNNING AT THE RATE OF 150 NEW APPLICATIONS

PER WEEK. EACH REQUIRES A LOT OF WORK. AS YOU KNOW, THE

CANADIAN PROVINCES ARE INTERESTED IN ATTRACTING THIS FLOW OF

CAPITAL. THE DEA HAVE MADE CONSIDERABLE EFFORTS TO ENSURE THAT

THE PROVINCES DO NOT ADD TO UNCERTAINTY IN HONG KONG BY

COMPETING TOO BLATENTLY, OR IN A WAY THAT MIGHT SUGGEST A LACK OF

CANADIAN CONFIDENCE IN HONG KONG. THE PROVINCES HAVE PROVED

AMENABLE TO ADVICE, AND HAVE TRIED TO FALL IN WITH IT.

NEVERTHELESS IT REMAINS TRUE THAT THERE IS A HIGH LEVEL OF

ACTIVITY ON THIS FRONT.

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CONFIDENTIAL AND PERSONAL