TNAG-1657-FCO40-2305-Daya-Bay-nuclear-power-station-project-safety-concerns-in-Ho-1987 — Page 46

There was some problem in identifying

precisely how we could calculate an equivalent

of the French concession on export credit

premium, but we found ways of presenting and

recalculating the ECGD premium to make ours

appear comparable to the French. But, with

the ceremony set for 4.30, when the final

draft was presented to us at 3.30 one of the

annexes had been completely revised to change

the terms for premium payment. On this occasion, the Bank of China Chairman was

Madam Huang, who was much less dominant in handling the JVC, and in the event ECGD were

presented with an ultimatum that either they accepted the implied concession in the text,

or the agreement would have to be signed

with this outstanding, and further discussed.

ECGD opted for the latter.

Post-Agreement Negotiations

In February 1986, the Bank of China made a

visit to London to clear up these outstanding

points. Inevitably, we gave them a welcoming

dinner, and they were entertained on the

basis that this was an occasion for pleasure

and not business. So the dinner proceeded

with nothing more than light conversation.

The following month, while ECGD were in

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