TNAG-2248-FCO40-3231-Trade-investment-conferences-concerning-Hong-Kong-1991 — Page 23

Read 27/u/91

SMITH NEW COURT

PLC

chopt

with

Mr Furness. По

Haaleci-

+

From The Rt Hon Peter Walker MBE MP

McCoy: Hos

xis in

in sibéké Psa aj k

~2

10/ki

26th November 1991

encouraging, caught to waite

achmented je

and

attached

Gina Fanning showed me the letter you kindly sent on 11th November.

T#39/M

I am not sure of the document which you refer to as produced by Smith New Court. Certainly in our research we have discussed with the main banks in Hong Kong and elsewhere their assessment of the upside and downside risks of Hong Kong in the coming decade. The general attitude is whilst of course there is a downside risk, it is as nothing if compared with the potential growth as Hong Kong becomes more linked with China in the future.

I enclose a recent research note we did on the surrounding territories and the expansion taking place there.

With every good wish,

R.A. Burns, Esq.,

AUSS,

Foreign & Commonwealth Office,

London SW1 2AH.

Обита

PETER WALKER

SMITH NEW COURT HOUSE P.O. BOX 293

20 FARRINGDON ROAD LONDON ECIM 3NH

TELEPHONE: 071-772 1000

FAX: 071-772 2937 TELEX: 884410 STX: 73877

REGISTERED IN ENGLAND NUMBER 762949