TNAG-2260-FCO40-3256-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-pres-1991 — Page 30

04-TUL-1991 20:25

G.I.S.

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Nigel

04-07-1981 19:52 GOVT INFORMATION SERVICES

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FOR YOUR INFORMATION

les Sino-British Shreement (5)

PS

PS / Ld C. Mr. Crystal

Mr. Burs

HK Bank general manager Paul Selway-Swift said it would be a good thing for HK and its economy that Britain and China reached an agreement on the airport, as it would be difficult and might be impossible to obtain syndicated loans without China's support and participation. With all obstacles cleared, he believed investors, particularly those from Japan, the US and Europe, would take part in the project.

Chan Wing-tung of the HK Building Contractors' Association said that the go-ahead of the airport project was good news and would boost the construction industry.

The convener of the Study Group on Infrastructure Projects Wang Liang-huew hoped that the setting up of a consultative committee on major infrastructural projects would increase the transparency of the project and that the Government would continue to solicit public views.

Polytechnic principal lecturer Lee Ming-kwan hoped that the deal would boost confidence and effect progress in the handling of HK affairs in the latter half of the transition. City Polytechnic senior lecturer Lee Kul-wai said the resolution would attract long-term investments that straddled 1997. Chan Kwok-hay of HK bank envisaged that the deal would stimulate economic development over the next few years but would also fuel inflation. He said Govt should take measures to curb inflation especially at the peak of the airport construction process. Chartered Bank economist Hui Chi»-cheung predicted that the agreement would have a positive effect on the stock market.

Meeting Point in a statement welcomed the deal in principle but regretted that Britain and China had imposed the agreement on HK without regard for HK people's right to a choice. The group asked the Govt to consult the public on the construction plans and on the financial reports in relation to the project.

Date:

Time:

4.7.91 20,00

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AR

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AU

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CDU

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어

/

PA ADIES (S(Vn)

IC

5 for Warks 5 for Trompent

for Tienery BB NAPLÓ C10/NOPCO

про

HK Dept, FCO ✓ London office.

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