TNAG-2280-FCO40-3280-Anglo-Hong-Kong-Trust-1991 — Page 16

FROM:

DATE:

PS/Lord Caithness

27 March 1991

CC:

Mr Burns

28/2

Mr Davies, FED

Mr Crystal, News Dept

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DIN. FOISTRY

2OAPR 1991

1. Mr David Davies of the Anglo Hong Kong Trust called on the Minister this morning. His main piece of news was that the Trust are at the early stages of a project to finance a business school in China along the lines of the business school they have already financed at the Hong Kong University. The Hong Kong school cost some £3-4 million. Mr Davies estimated that the school in China would cost at least that, and probably more. He said that the initial assumption had been that the school would be located in Beijing. On reflection the Trust were now thinking of Guandong or Shanghai. The Governor, with whom Mr Davies had discussed these ideas, had remarked that Hong Kong should not put all its Chinese eggs in the one basket of Guandong. The Trust were therefore thinking again about other locations.

2.

Mr Davies said that business confidence in Hong Kong had now completely recovered from the shock of Tiananmen Square. But, in answer to a question from Lord Caithness, he thought that any decision not to proceed with the new airport would be very damaging indeed. It would be seen locally as a complete capitulation by the Hong Kong Government and HMG.

3.

Mr Davies should be added to our list of guests for a future "brain-stroming" dinner.

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Peter Tibber

PS/Lord Caithness

27 March 1991