CONFIDENTIAL
HKB 182 12
Pa
146171
MDHIAN 0139
MFNUKB090/4
1891
Paul 1749
CONFIDENTIAL
FM PEKING
TO DESKBY 23093OZ F C O
TELNO 80
OF 230851Z JANUARY 91
AND TO DESKBY 23093OZ HONG KONG
INFO IMMEDIATE UKREP JLG HONG KONG
FROM GOVERNOR.
MY VISIT TO PEKING.
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Mr Stance
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I have sent
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1307
MEETING WITH LI LANQING, MINISTER OF FOREIGN ECONOMIC RELATIONS AND TRADE: 23 JANUARY.
GENERAL HONG KONG/P R C TRADE.
1.
I STRESSED THE GROWING TRADE BETWEEN HONG KONG AND CHINA AND THE GREAT IMPORTANCE AND BENEFITS THAT THIS BROUGHT TO BOTH SIDES AT A TIME WHEN THE WORLD ECONOMIC SITUATION WAS UNCERTAIN. INVESTMENT WAS ALSO OF GREAT SIGNIFICANCE. 60 PER CENT OF EXTERNAL INVESTMENT IN CHINA WAS FROM OR THROUGH HONG KONG.
2. LI REPLIED THAT THERE WAS A CLEAR TREND OF GROWTH IN BILATERAL TRADE. HE CITED THE REASONS AS BEING HONG KONG'S ECONOMIC, FINANCIAL, TRADE AND SERVICE EXPERTISE AND CHINA'S ADVANTAGES OF RAW MATERIALS, HUMAN RESOURCES AND AN INDUSTRIAL BASE. HE FELT THAT POLITICS ALSO PLAYED A PART BECAUSE OF THE NEED FOR CONFIDENCE. THE ''ONE COUNTRY, TWO SYSTEMS'' CONCEPT SHOULD AID THE DEVELOPMENT OF ECONOMIC RELATIONS, SINCE IT MADE CLEAR THAT CHINA NEEDED A HONG KONG WITH ITS PRESENT SYSTEM. THE HONG KONG PEOPLE SHOULD UNDERSTAND THAT AND NOT BE WORRIED. CHINA WANTED TO MAINTAIN THE PROSPERITY AND STABILITY OF HONG KONG, AND ALSO THE STABILITY AND PROSPERITY OF ITS OWN SOCIALIST SYSTEM. IF THERE WERE PROBLEMS ON THE MAINLAND, HONG KONG WOULD ALSO SUFFER.
3. I SAID I WAS ENCOURAGED BY LI'S REMARKS. WITH THE APPROACH OF CHANGE THERE WAS INEVITABLY A CONFIDENCE PROBLEM. BUT COMMENTS FROM PRC OFFICIALS TO THE EFFECT THAT THE P R C NEEDED HONG KONG WITH ITS PRESENT SYSTEM HELPED TO ALLAY THE FEARS OF HONG KONG PEOPLE. THE MORE THAT CHINESE FIRMS DID BUSINESS IN HONG KONG,
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