CONFIDENTIAL
FM HONG KONG
TO DESKBY 25130OZ FCO
TELNO 2003
OF 251030Z MAY 88
CONFIDENTIAL
FURB. 027/3
Annex Cre
19170 bref No1 (170
047733
MDHIAN 0719
COPY
SECRETARY OF STATE'S VISIT: CURRENT MOOD
SUMMARY
ECONOMY DOING WELL LABOUR SHORTAGE A
FUTURE-RELATED
MOST PEOPLE HAVE
IN GENERAL HONG KONG PROSPEROUS BUT NERVY. ALTHOUGH NOT EXPANDING AS FAST AS LAST YEAR. PROBLEM, WITH EMIGRATION A CONTRIBUTING FACTOR FOR SOME MIDDLE MANAGEMENT POSTS. BASIC LAW CURRENTLY TOP OF THE ISSUES: BUT COMMENT STILL GENERAL AND UNFOCUSSED. NOT READ IT: NEVERTHELESS, CONCERN ABOUT WHAT IT IMPLES FOR FUTURE CHINESE INTENTIONS AND BEHAVIOUR. MUCH WORRY ALSO ABOUT INCREASING ARRIVALS OF VIETNAMESE BOAT PEOPLE.
ANY ISSUE INVOLVING
UK (VIETNAMESE REFUGEES, BN(0) PASSPORTS) LOOKED AT WITH SCEPTICAL INTENSITY TO JUDGE DEGREE OF HMG'S COMMITTMENT TO HONG KONG. CONTINUING NERVOUSNESS ABOUT THE TRANSITION TO 1997.
GENERAL
2.
THE GOVERNMENT CONDUCTS REGULAR PUBLIC OPINION POLLS TO GUAGE POPULAR OPINION ON CURRENT ISSUES AND ON THE GOVERNMENT'S PERFOR-
80 PERCENT MANCE. THE LATEST SUCH POLL WAS CONDUCTED IN DECEMBER. OF THOSE POLLED SAID THEY WERE (QUOTE) HIGHLY SATISFIED (UNQUOTE) OR (QUOTE) SATISFIED (UNQUOTE) WITH THE GOVERNMENT'S OVERALL PERFOR- MANCE. THE GOVERNMENT SCORES HIGH MARKS FOR ITS HANDLING OF DOMESTIC ISSUES. THE FUTURE OF HONG KONG RANKS THIRD AS A PERCEIVED PROBLEM BEHIND TRANSPORT AND HOUSING.
THE ECONOMY
3.
THE BOUYANT STATE OF THE ECONOMY IS A MAJOR CONTRIBUTING FACTOR TO THIS COMPARITIVELY ROSY VIEW OF LIFE IN THE PRESENT AND THE IMMEDIATE FUTURE. UNEMPLOYMENT HAS REMAINED VERY LOW AT 1.6 PERCENT
INCREASES IN WAGE RATES, FOR THE THREE MONTH PERIOD UP TO MARCH. PARTICULARLY IN THE BUILDING AND CONSTRUCTION SECTOR, HAVE BEEN SUBSTANTIAL. THE PROPERTY MARKET IS ACTIVE: PRICES IN SOME SECTORS HAVE EXCEEDED THE LEVELS REACHED PRIOR TO THE STOCK MARKET CRASH OF
IT ALTHOUGHT IS STILL GROWING, OCTOBER 1987. CAPITAL INVESTMENT
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