TNAG-2016-FCO40-2871-Relations-between-Hong-Kong-and-Japan-1990 — Page 222

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BACKGROUND

References: A

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Note of meeting on 20 February between

Mr McLaren and Mr Satoh, Director General of

the Information, Analysis, Research and Planning Bureau at the Japanese Foreign

Ministry.

B. Mr Paul's minute to the DTI on the

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Anglo/Japanese consortium.-

Japanese Investment in Hong Kong

1.

Japan is Hong Kong's third largest trading partner after China and the US accounting for 17% of total impors and 6% of total exports (including re-exports) in 1989.

Japan has

also overtaken the US as Hong Kong's largest source of

foreign investment.

2.

The Japanese continue to be cooperative over rebuilding

confidence. Nakayama visited Hong Kong in November 1989.

PADS

3. The Governor announced PADS in his October 1989 policy

The strategy comprises two distinct areas:

speech.

(ị)

支

an extensive port development (estimated to cost

HK$ 50 billion) which will be almost entirely privately

funded and dependent on demand; and

(ii) a replacement airport and a number of huge

infrastructure projects (estimated to cost

HK$ 77 billion) necessary to link the aipport with the

rest of Hong Kong.

RODABG/3

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