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04 MDLIAN 2614
WITH INVESTMENT NOW ESTIMATED AT USD7 BILLION IN TOTAL. THERE ARE 900 US FIRMS IN HONG KONG, MORE THAN DOUBLE THE NUMBER FIVE YEARS AGO.
I KNOW THAT YOU HAVE RECENTLY INTRODUCED A BILL IN CONGRESS FOR THE CONDITIONAL RENEWAL OF MFN. I CAN UNDERSTAND THE THINKING BEHIND THIS: BUT I FEEL IT ONLY RIGHT TO TELL YOU THAT I FEAR THIS RISKS CREATING YET MORE UNCERTAINTY IN HONG KONG FOR BOTH LOCAL AND FOREIGN BUSINESSES AND INVESTORS. WITH MY RESPONSIBILITIES FOR TRYING TO DO EVERYTHING POSSIBLE TO PRESERVE THE WAY OF LIFE OF THE PEOPLE OF HONG KONG UP TO AND BEYOND 1997, SUCH AN OUTCOME CAUSES ME GREAT CONCERN.
ENDS
WILSON
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SIR J COLES MR BURNS
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