WITH IT
"MEGHAN COX: BUT ISN'T IT MORE IN HONG KONG'S AND BRITAIN'S INTERESTS TO GET THE AIRPORT GOING THAN IT WAS IN CHINA'S?
I
GOVERNOR: IT DEPENDS HOW YOU CONCEIVE OF CHINA'S INTERESTS. MEAN I, MYSELF, WOULD SAY THAT IT IS VERY MUCH IN CHINA'S INTERESTS THAT THIS AIRPORT SHOULD GO AHEAD. IF CHINA WANTS TO SEE A PROSPEROUS HONG KONG AFTER 1997, WHICH I'M SURE IT DOES, AND IF THE DEVELOPMENT OF SOUTHERN CHINA IS SOMETHING OF IMPORTANCE TO THE CHINESE LEADERSHIP, AND I AM SURE IT IS, THEN THIS AIRPORT IS SOMETHING THAT'S VERY IMPORTANT TO CHINA AS WELL AS TO US. THE BENEFIT, I MEAN THE REAL BENEFIT OF THIS, COMES TO THE POST-1997 HONG KONG.
OSWALD KWAN (ORIENTAL DAILY NEWS): ITEM (E) OF THE MEMORANDUM 25 BILLION IS THE LEVEL OF THE FISCAL RESERVES HAS BEEN MENTIONED, AND SO WOULD THERE BE ANY CHANNEL, SAY SUBMITTING A FINANCIAL REPORT REGULARLY TO THE PRC GOVERNMENT, TO ENSURE THE CHINESE GOVERNMENT THAT OUR FISCAL RESERVES WILL NOT GO BELOW THAT LEVEL?
GOVERNOR: NO, THERE IS NOTHING LIKE THAT PLANNED IN THE MEMORANDUM, NO.
STEVE GLAIN (ASTAN WALL STREET JOURNAL): I HAVE TWO QUESTIONS, DO YOU WANT THEM ONE AT A TIME, OR?
GOVERNOR: UNLESS THEY ARE CLOSELY LINKED AND SIMPLE, YES.
NOW
STEVE GLAIN: OKAY, I'LL GIVE THEM TO YOU ONE AT A TIME. THAT AN AGREEMENT HAS BEEN INITIALLED, ARE YOU AT LIBERTY TO SAY WHEN THE FIXED-CROSSING PROJECT WILL BE PUT OUT TO TENDER?
GOVERNOR: THE FIXED-BRIDGE?
DO YOU MEAN THE TSING MA BRIDGE?
STEVE GLAIN: WHEN WILL THAT BE PUT OUT TO TENDER?
GOVERNOR: WE WILL BE GOING AHEAD WITH THAT AS SOON AS WE CAN. FOR THAT WE NEED FIRST OF ALL TO GO TO THE FINANCE COMMITTEE OF THE LEGISLATIVE COUNCIL, AND THE PLAN IS TO DO THAT I THINK WITHIN THE NEXT COUPLE OF WEEKS OR so.
STEVE GLAIN: AND FORGIVE ME IF THIS HAS ALREADY BEEN ASKED BUT YOU MENTIONED TODAY THAT YOU HAD NO PROBLEM WITH CONSULTATION WITH CHINA. IF THAT IS THE CASE, WHY DIDN'T YOU TAKE THIS UP WITH THEM BEFORE YOU MADE THE ANNOUNCEMENT IN NOVEMBER OF 1989?
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GOVERNOR: WHEN WE FIRST ANNOUNCED THIS IN OCTOBER OF 1989, WE HAD BRIEFED THE CHINESE BEFORE THAT. AT THAT PARTICULAR TIME WE HAD NO REASON TO BELIEVE THAT IT WAS GOING TO CREATE ANY PROBLEMS. IT HAS SINCE BECOME CLEAR I SAID THIS IN ANSWER TO AN EARLIER QUESTION THAT CHINESE CRITICISM OF THE PROJECT WAS GOING TO AFFECT THE WAY IN WHICH THE PRIVATE SECTOR WOULD OR WOULD NOT INVEST IN THE PROJECT OR THE SORT OF PREMIUM, IF YOU CAN PUT IT LIKE THAT, THE PREMIUM THAT THEY MIGHT PUT ON THEIR INVESTMENT IF THERE WAS UNCERTAINTY, AND THAT IS WHY IT HAS BEEN SO NECESSARY TO GET A POSITIVE ATTITUDE FROM CHINA.
STEVE GLAIN: SO THEY WERE BRIEFED ON THE MAGNITUDE AND THE
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