TNAG-1595-FCO40-2180-Honk-Kong-leading-personality-Li-Ka-shing--businessman-and--1987 — Page 8

Page

OCMIAN 0749

CONFIDENTIAL

PP HOKON

FM FCOLN TO HOKON

051430Z AUG

GRS 115

CONFIDENTIAL

FM FCO

TO PRIORITY HONG KONG

TELNO 2106

OF 051430Z AUGUST 87

CONFIDENTIAL

TOR COPY

Q D194-7

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H&B 010/6

RECE, Sita dela

1 0 AUG 1987

FOLLOWING PERSONAL FOR FINANCIAL SECRETARY FROM HUM, HKD

LI KA-SHING

1. THE BANK OF ENGLAND HAVE HEARD THAT WHEN LI KA-SHING GAVE

EVIDENCE IN CAMERA TO THE TRIBUNAL SET UP LAST YEAR TO INVESTIGATE

ALLEGATIONS OF INSIDER TRADING, HE HAD THINGS TO SAY

WHICH CAST INTERESTING LIGHT ON HIS VIEW OF HONG KONG'S FUTURE.

2. WOULD IT BE POSSIBLE FOR YOU TO GET HOLD OF A TRANSCRIPT OF

PROCEEDINGS? WE SHOULD LIKE TO READ IT IF IT IS AVAILABLE.

GLENARTHUR

OCMIAN 0749

NNNN

YYYY

LIMITED

HKD

MR GILLMORE

1

CONFIDENTIAL

COPIES TO!

MR. P. KENT, BANK/ENGLAND.

ش

Reference

TO:

MR CRUICKSHANK

FROM:

PAUL STEEPLES

PS/Secretary of State for

Trade & Industry

Room 803

1 Victoria Street

215 5422

24 July 1987

сс

Mr Cooke

Mr Benjamin Mr Goodman

Mr Beston

Mr Priston Mr Tracey

Mr Morris, FCO

MEETING WITH MR LI KA-SHING : 22 JULY 1987

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(pons) PA(L)

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Those present

Secretary of State for Trade & Industry Mr Benjamin

Mr Cruickshank

Mr Li Ka-Shing

Lord Derwent

Mr Simon Murray, Group Managing Director,

Hutchinson Whampoa Ltd

SUMMARY

The meeting discussed Mr Li's wish to invest in the UK, power station projects in Hong Kong and China, the future of Hong Kong and the Lantau Island project.

DETAIL

2

Mr Li said that he was keen to invest in the UK. He wished to work in partnership, or to buy a UK company and was examing prospects for doing this. His company was heavily involved in the USA and Canada, and now represented 80-100 companies in the UK. The Secretary of State confirmed that the UK had the best economic climate that he had experienced in his life time, and this achievement seemed to be solid.

DW5BSQ

CODE 18-77

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?

Reference

3

Mr Li referred to NEI's possible order from Hong Kong Electric, and a further power station project in China, of which Phase I would be of 700MW, which may use NEI equipment. He said he would be seeing NEI twice on this visit, and hoped that they would work well with possible Japanese partners. Observers from China would be visiting Hong Kong Electric, and if the order were won they would be able to see NEI equipment at work.

4

to

Lord Derwent pointed to the continuing importance of businesses remaining in Hong Kong after 1997. This seemed to have been accepted by US, Canadian and Australian companies but did not seem be accepted by UK ones. Mr Li agreed. His company was the agent for Lockheed in China, where they intended to begin the manufacture of aircraft parts. He believed it would be possible for UK companies to take a similar initiative.

5

Mr Benjamin asked for Mr Li's view of the Lantau airport project being promoted by Gordon Wu. Mr Li confirmed that he was strongly committed to this project, though he was allowing Mr Wu to take a high profile in promoting it. He thought there would be no problem with project finance, and that it would provide major opportunities for UK companies.

In sum, the

project was only waiting for Government approval in order to go ahead.

Paul Steeples

PAUL STEEPLES

DW5BSQ

CODE 18-77