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CONFIDENTIAL
FM HONG KONG
Confidential A
TO DESKBY 13110OZ FCO
TELNO 136
OF 130945Z JANUARY 87
400
ED IN NEGISTRY
14 JAN 1987
DESK OF
INDEX
INFO IMMEDIATE HONG KONG GOVERNMENT OFFICE LONDON
REGISTRY.
Action Taken
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TOP COPY DIST
MY SECOND IPT: ANNOUNCEMENT OF NEW GOVERNOR : ME ETTA ARRANGEMENTS.
FOLLOWING IS THE LIST OF QUOTE BULL POINTS UNQUOTE WHICH THE NEW GOVERNOR MAY WISH TO USE DURING HIS MEDIA INTERVIEW SESSIONS ON
JANUARY 16:
(A) ECONOMY.
(1) HK'S ECONOMY HAS PERFORMED STRONGLY IN THE PAST YEAR. EXPORTS CONTINUE TO GROW VIGOROUSLY. MANUFACTURING SECTOR IS ENJOYING A
BETTER ORDER-BOOK POSITION. OVERALL GROWTH OF GDP LIKELY TO BE A RESPECTABLE 6 PER CENT IN 1986. LABOUR FORCE IS EFFECTIVELY FULLY EMPLOYED (RATE OF UNEMPLOYMENT 2.9 PER CENT).
(2) FOREIGN AND CAPITAL INVESTMENTS CONTINUE TO GROW. INTERNATIONAL BANKS HAVE SHOWN KEEN INTEREST IN SETTING UP BRANCHES IN THE TERRITORY AND SOME 75 PER CENT OF THE TOP 100 BANKS IN THE WORLD ARE NOW ESTABLISHED IN HK. TEN ADDITIONAL FOREIGN BANKS WERE GRANTED
LICENCES IN 1986.
(3) PRIVATE SECTOR IS ALSO MAKING INCREASED AND SUBSTANTIAL INFRASTRUCTURAL AND CAPITAL INVESTMENTS.
(4) HK HAS RETURNED TO A HEALTHY BUDGET SURPLUS FOLLOWING THE LEAN
YEARS BETWEEN 1982-85.
(5) THE STOCK MARKET HAS BEEN EXTREMELY ACTIVE AND HANG SENG INDEX
HAS REACHED AN ALL-TIME HIGH.
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(6) PROPERTY PRICES ARE BUOYANT AGAIN AND PLANNED DEVELOPMENTS FOR ALL TYPES OF PROPERTY SHOW A MARKED INCREASE.
(B) MAJOR PROJECTS IN PIPELINE.
(1) THE HONG KONG DOLLARS 3 BILLION SECOND CROSS HARBOUR TUNNEL,
NOW UNDER CONSTRUCTION AND SCHEDULED FOR COMPLETION IN 1990, IS BEING FINANCED, BUILT AND OPERATED BY THE PRIVATE SECTOR, AN IMPRESSIVE
DEMONSTRATION OF CONFIDENCE IN HK'S FUTURE.
(2) THE TECHNICAL AND FINANCIAL VIABILITY OF ANOTHER NEW TUNNEL LINK
THIS ONE UNDER TATE'S CAIRN IS BEING STUDIED.
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(3) THE HONG KONG DOLLARS 1 BILLION LIGHT RAIL TRANSIT SYSTEM
LINKING TUEN MUN AND YUEN LONG IS SCHEDULED FOR COMPLETION IN 1988.
CONFIDENTIAL
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