TNAG-2408-FCO40-3502-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-Brit-1992 — Page 97

A-273

To:

dti

the department for Enterprise

Minister for Trade HKA 182/3

From:

David Hall

Hd/PEP

Room 256

Ashdown House 215 5462

25 February 1992

HONG KONG

Summary

CC

Pleapy to the

54

(paras 10-1

13/20 My Ridelts To Showe 161] to fined $1413.

M

Secretary of State 13/

Sir Peter Gregson

of most

Interest

!!

Mr Roberts

Mr Willott

ECGD

Mr Meadway

OT2

Mr Wild

ECGD

了

Mr Rogers

PEP1

Mr Casey

PEP2

Mr Worman

PEP3

Mr Pentecost ECGD

Mr Day

PEP2

MrBroadbent

b.c.c.

mr Bups. fco

M. James in Mr Heap, BTC

RES 8/3-

I visited Hong Kong last week for discussions with the Hong Kong Government and others on current project opportunities. Against a background of continued economic growth and renewed optimism, Hong Kong is a key market for British exporters who are well placed to obtain major business, notably on the new airport and the Black Point power station. ECGD cover is likely to prove critical.

2.

This note is for information only.

Detail

3. Together with Mr Rogers and Mr Day of PEP, I visited Hong Kong last week to discuss project opportunities. We had a useful series of meetings with the Governor, the Financial Secretary and other senior people in the Hong Kong administration; with representatives of the airport authority, the railway authorities; and with the electricity companies; and with a range of UK company representatives in Hong Kong.

4.

In general, Hong Kong is in confident mood. The atmosphere is in striking contrast to that in the UK (and the United States.) The economy continues to perform

impressively: although it has weakened slightly in recent months, the key economic indicators remain enviable by any standards. Energetic Hong Kong entrepreneurs are active not only in Hong Kong itself but in neighbouring parts of Southern China and in South East Asia more widely. Hong Kong's

relations with the PRC are now much more settled, and there is much optimism about the future. No doubt there will be alarms and panics in Hong Kong on the way to 1997, and relations with the Chinese are always fragile, so that more serious difficulties cannot be entirely ruled out. But there was a widespread view that these were likely only to be temporarily blips, and that Hong Kong would continue to grow and prosper.

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