TNAG-1506-FCO40-2064-Guangdong-nuclear-power-station-project-at-Daya-Bay-safety-c-1986 — Page 64

6. Furthermore we would like to point out to Your Majesty that the following policy is inconsistant with the system of free enterprise and fairplay in Hong Kong's capitalistic system: Kadoorie's China Power and Light and its subsidiary the Hong Kong Nuclear Investment Co. are apparently "private enterprise TI promotion of products of private enterprises should be financed by the private firms themselves. Yet evidence has it that Hong Kong Government is about to spend a lot of money "to educate the public to accept nuclear power and millions will be spent on contingency plans, setting up monitoring systems to detect nuclear radioactivity leakage. Ofcourse there is the 600 Million participation already. (in the form of "guarantee"). We as inhabitants of Hong Kong feel very indignant about other private enterprises not receiving such preferential treatment. This sort of encouragement for monopoly is definitely biased and unfair.

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7. Lastly, the most disturbing thought is about our foreign exchange reserve which is being held in England. From Ming Piao Daily we learnt that three of the seven contracts signed on 23rd September 1986 are as follows ist, loan agreement between seven banks of France and Bank of China, 2nd, loan agreement between 10 banks of England and Bank of China, 3rd, agreement between Bank of China and the Joint Nuclear Venture on the Daya Bay Plant. We are alerted to these agreements and alarmed by the secrecy surrounding the security against these loans, they being the holdings in our Foreign exchange reserve which hearsaid is in the region of 30 billion (the financial secretary has refused release the exact figure) currently held in the U.K. Such economic binding_on our FERF could have a catastrophic effect not only on the viablity of the Hong Kong dollar in the future, but also on the prosperity of Hong Kong. If the viability of the Hong Kong dollar is endangered, H.K. as a finance centre can be written off, whether or not there is a nuclear plant accident or nuclear waste contamination. We would really appreciate it if your Majesty or your foreign office can make public reassurance that these fantastic bank loans have nothing to do with the FERF and that the FERF will in no way be affected by any adverse situations arising from the Daya Nuclear plant. This will alleviate half our anxiety.