minute/letter/teleletter/despatch/note
LSR 11 (Revised)
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TYPE: Draft/Final 1+
Reference02/1
[HK2AON]
TOP B Hardcastle Esq
Hardcastle & Co Ltd
3 Gracechurch St
LONDON
EC3V OAB
SUBJECT:
Your Reference
HICAAT.
Copies to:
For gove
me you
not commenting
sooner
16
December.
I was
I have
Thank you for your letter of
interested to read your record of comments made to you by
the Chinese during your recent visit to Peking.
to say however that I do find some of them a little
puzzling.
First,
it is not really accurate to say that
the
Enclosures-flag(s).
"negotiation
markets"
of the Hong Kong agreement led to
considerable unhappiness in Hong Kong which in turn led
to the flight of confidence and the collapse of the local
While there was inevitably a degree of
uncertainty and concern in Hong Kong at various stages
during the two year long Hong Kong negotiations, Hong
Kong's economic position has steadily advanced ever since
the draft agreement was initialled in September 1984. In
July 1984 the Hang Seng Index dipped below the 800 mark
for several successive days.
It has risen fairly
then until it breached the 2600
the 2600 barrier
it is true
steadily since then
earlier this month. The property market has it
never fully recovered to the very high levels it reached
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