CONFIDENTIAL
7.
The development of services, particularly transport and finance, is increasingly bound up with Chinese trade policy. If the export increase needed (to allow imports of machinery and raw materials to proceed without significant borrowing) occurs, the Territory will be a substantial beneficiary.
ייי
BANKING SUPERVISION
8.
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It was felt that difficulties in the financial sector were coming to an end. They had resulted from the disastrous effects of the property crash and from over-concentration of lending both to companies and to countries - by smaller banks and DTCs. The new legislation should allow more detailed and flexible regulation of DTCS.
7 February 1986
copied to: Mr Margolis, DPA, Hong Kong
CONFIDENTIAL
Wick Hallott.
N O Hallett
Economic Advisers
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