10.
4.
People also expressed concern over China's apparent displeasure at the Governor's unilateral proposals. They were afraid that this would adversely affect Sino-British relationship, resulting in even longer delays in reaching a consensus over the new airport financing arrangements. Some also feared that the economy would suffer.
ExCo Appointments
ii.
Respondents on the whole support the new appointments but some were disappointed that no "liberals" were appointed. There was also some
concern over the lack of 'grassroots' representation on the new Exco. Some NT personalities were disappointed that SHA had not been appointed, and that they had lost their only voice on ExCo (i.e. Andrew WONG).
12.
Economic Aspects
Our respondents were glad to see the emphasis given to sustaining economic growth. They all echoed that economic success was one of the key factors for the prosperity of Hong Kong and should therefore be maintained. They considered the projected 5% average annual GDP growth between now and 1997 a good indication of economic prosperity. However, a few considered that the projection was too optimistic. Many of our respondents were also supportive of the policy of maintaining the linked exchange rate, and agreed that the risks of tampering with the link would
be enormous. However, a few were worried that the link might bring about other unfavourable consequences like imported inflation. As regards the establishment of a Monetary Authority, our contacts welcomed the suggestion and believed that such an Authority would help to maintain monetary stability and further assist the development of the economy.
13.
Our respondents also found it sensible to establish a Governor's Business Council which would inter alia develop a comprehensive competitive policy for Hong Kong. They felt that it was an innovative idea to establish a closer relationship between the Governor and the business sector, and hoped that such a link would improve the investment
environment of Hong Kong.
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