TNAG-1764-FCO40-2518-Hong-Kong-stock-market-and-exchange-rate-1988 — Page 144

FOR PRU USE ONLY

OP Date:

PARLIAMENTARY QUESTION

For WRITTEN ANSWER on

Serial no:136TEXT OF QUESTION :-

11/01/88

RESTIG COVERING CONFIDENTI

SECRET

Head of

HKD

g

Please submit

a draft Answer & Background

to Parliamentary Unit

before

Won

8

Jam

0Q 201

1988

Party

C

ROBERT ADLEY (CHRISTCHRCH)

To ask the Secretary of State/na:

IF HE WILL MAKE A STATEMENT ON THE MAINTENANCE OF PROSPERITY AND STABILTY IN HONG KONG IN THE LIGHT OF RECENT DEVELOPMENTS CONNECTED WITH THE H K STOCK EXCHANGE.

Мис 100%

to P/S

LORD GLENARTHUR

(Minister)

for approval by

NOON 11. JAN.87

4

!.PQs...REPLY(S)

for answer by

MR. EGGAR

(Minister)

ANSWER

Late

I believe that the prompt action taken by the Hong Kong Government

I took AYO [in November to initiate a thorough review of the management and operation of the Hong Kong Stock Exchange, and more recently,

passed

the resolutions passed by the Stock Exchange enabling certain

members of its committee to distance themselves from the

management of the Exchange while investigations into

allegations of corruption in the operation of the Exchange are in

We love progress. will have reinforced international confidence in

and So

Hong Kong as a leading financial centre, This will contribute to the maintenance of the prosperity and stability of the

territory.

copy to

Private Secretary MPG EGGAR

PS/

(Minister)

Parliamentary

is fuilber aneraded subject to suntulle

for met words for "inder fall of 30 Octious

of

f

Clerk

authorised

(Head of Dept)