RESTRICTED
RESTRICTED
FM PEKING
TO PRIORITY OVERSEAS TRADE DIVISION DTI
TELNO OTTER 203
OF 300541Z AUGUST 90
AND TO PRIORITY BTC HONG KONG
Pa
123
135656
MDLIAN 6703
s/c
НКС 162 12.
сс нко
05 SEP 1990
DTI FOR PEP AND OT2/2D.
HONG KONG AIRPORT.
.
1 I GAVE HUANG JICHUN, CITIC VICE-PRESIDENT RESPONSIBLE FOR ALL DOMESTIC AND OVERSEAS INVESTMENT, LUNCH ON 29 AUGUST, THE DISCUSSION WAS WIDE-RANGING. THOUGH THE SUBJECT OF HONG KONG AIRPORT AROSE AND I SPOKE IN ITS SUPPORT ON USUAL LINES, HUANG HAD LITTLE TO SAY. CITIC WOULD BE INCREASING ITS INVESTMENTS OUTSIDE CHINA AND OBVIOUSLY HONG KONG WOULD BE AN AREA WHERE IT WOULD CONCENTRATE. HOWEVER, CITIC NEEDED TO INVEST IN HIGHLY PROFITABLE ENTERPRISES AND HE WAS NOT SURE THAT THIS WAS ONE SUCH. I STRESSED THAT GIVEN THE AMOUNT OF AIR TRAFFIC HONG KONG GENERATED THERE WOULD BE NO DOUBT ABOUT THE AIRPORT'S PROFITABILITY. BUT HUANG THEN DREW ATTENTION TO THE SCALE OF THE PROJECT AND WOULD NOT BE DRAWN FURTHER, SAVE TO SAY THAT HE WAS STUDYING IT.
2. HUANG CLEARLY UNDERSTANDS THE SIGNIFICANCE AND IMPORTANCE OF CHINA BEING SEEN TO INVEST IN THE AIRPORT. EQUALLY, HE IS AWARE THAT THE MATTER IS ONE ON WHICH THE CHINESE GOVERNMENT HAS NOT YET COMMITTED ITSELF. HUANG GAVE NO INDICATION OF ANY FUTURE COURSE OF ACTION BY CITIC AND HIS ATTITUDE, IF NOT HIS WORDS, WAS AT BEST, NEUTRAL.
CHARMAN
YYYY
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