TNAG-1764-FCO40-2518-Hong-Kong-stock-market-and-exchange-rate-1988 — Page 123

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If, as we hope, the Governor visits the U.S. in the fall, one of the major objectives of his visit should be to promote Hong Kong as an international financial centre in the light of the measures which will by then have been taken by the Government and the Stock Exchange.

18. Once there are further significant measures to report, we shall also need to undertake a coordinated programme of other informational and promotional exercises here, through medis relations, direct mail and personal diplomacy by M(S), D(SF) and D(NY).

19. Finally, this issue should not be viewed or handled in isolation from the more general issue of confidence in Hong Kong's future. Both issues

Both issues impinge on each other.

20. The perceptions of Hong Kong as an international financial centre among US, financial and business institutions will increasingly be affected by the measure of their confidence in Hong Kong's future in the 1990s and beyond. The effectiveness of the Hong Kong Government's efforts to generate confidence in Hong Kong's futurs will therefore be a critical factor in generating positive perceptions of its financial markets.