TNAG-1470-FCO40-1999-Visits-by-Chinese-officials-to-Hong-Kong-1986 — Page 91

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CONFIDENTIAL

FM HONG KONG

CONTIDENTIAL

HRR 027/4

TOP COPY

#GISTRY

1 OFEB 1986

TO PRIORITY FCO

TELNO 434

OF 08110OZ FEBRUARY 86

„FFICER

INFO PRIORITY PEKING

INDL

13

PA

AB 19/2

PEKING TELNOS. 85, 115 AND 181: FCO TELNO 129 : AND MY

18

TELNO 347:

QD

VISITS BY SENIOR CHINESE OFFICIALS TO HONG KONG.

12

IN MY VIEW THE NEXT VISITOR SHOULD BE AN ECONOMIC RATHER THAN

A POLITICAL VISITOR. WE HAVE HAD TWO FAIRLY HIGH PROFILE POLITICAL

VISITS BY JI PENGFE AND LU PING, AND THE TIME HAS COME TO CHANGE

THE EMPHASIS.

2. AS A FIRST VISITOR WOULD WELCOME L PENG. WILL CONSULT EXCO ON THIS ON MY RETURN FROM LONDON. (PARA 4 OF PEKING TELNO 85).

3. AS REGARDS MME CHEN MUHUA › AM NOT (NOT) PERSUADED BY THE

ARGUMENTS IN PEKING TELNO 115. WHATEVER HERE DEFECTS OF PERSONALITY

AND BEHAVIOUR, MADAME CHEN MUHUA MUST HAVE CONSIDERABLE CLOUT. SHE WAS, AFTER ALL, CHOSEN TO SORT OUT THE FOREIGN EXCHANGE

PROBLEMS. THE NATURE OF HER RESPONSIBILITIES (AND THE DIFFICULTIES

SHE FACES) PROVIDE OPPORTUNITIES TO UNDERLINE THE COMPLEXITY OF

HONG KONG'S FINANCIAL SECTOR, AND ITS FUTURE VALUE TO CHINA.

3. ACCEPT THAT IT WILL BE IMPORTANT NOT TO PUT THE BANK OF CHINA'S

NOSE OUT OF JOINT. HOWEVER, THE PEOPLE'S BANK NOW SEEMS TO BE

FIRMLY IN THE DRIVING SEAT. TO AVOID THIS WE COULD FLOAT THE DEA

OF A VISIT BY MADAME CHEN MUHUA MORE INDIRECTLY, BY APPROACHING THE BANK OF CHINA IN HONG KONG, MAKING THE FOLLOWING POINTS:

(A) SUCCESSFUL VISITS TO HONG KONG BY JI PENGFE AND LU PING:

(B) WISH TO ENCOURAGE MORE VISITORS. BELIEVE TIME IS NOW RIGHT FOR

FOR VISITS BY SENIOR CHINESE OFFICIALS WITH ECONOMIC

RESPONSIBILITIES:

(C) GIVEN THE IMPORTANCE OF BANKING SECTOR, AND BANK OF CHINA'S

OWN PERMANENT ROLE, WE ARE THINKING IF INVITING SENIOR

BANKING OFFICIAL:

(D) SENIOR BANK OF CHINA OFFICIAL ALWAYS WELCOME. COULD BANK OF

CHINA ALSO DISCOVER WHETHER MADAME CHEN MUHUA WOULD BE INTERESTED

IN RECEIVING AN INVITATION.

CONFIDENTIAL

IF

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