SECRET
104247
MDHOAN 9539
SECRET
FM FCO
TO IMMEDIATE HONG KONG
TELNO 187 ·
OF 11170OZ FEBRUARY 92
TOP COPY Q DIST?
No Cox
INFO IMMEDIATE PEKING, UKREP JLG HONG KONG
M
enter
MB 12/2
PERSONAL FOR GOVERNOR FROM RICKETTS, HKD PEKING: PERSONAL FOR AMBASSADOR
UKREP JLG: PERSONAL FOR GALSWORTHY
34
YOUR TELNO 373:
CONFIDENTIAL FINANCIAL DIALOGUE: DISCLOSURE OF
INFORMATION ON EXCHANGE
FUND
1. WE ARE GENERALLY CONTENT WITH THE DRAFT SPEAKING NOTE ON THE EXCHANGE FUND SET OUT IN TUR. LOOKED AT IN ISOLATION, IT SEEMS TO TREAT THE SUBJECT RATHER ABRUPTLY BUT NO DOUBT SECRETARY FOR MONETARY AFFAIRS WILL WRAP IT UP WITH A SUITABLE INTRODUCTION. YOU MAY ALSO WISH TO CONSIDER THE FOLLOWING SUGGESTED MINOR AMENDMENTS:
PARAGRAPH 1. IT MIGHT HELP IF THE DETAILS OF THE SIMPLE STATEMENT YOU INTEND TO PUBLISH (PARA 2(A)) WERE ALSO SET OUT IN
THIS PARAGRAPH.
PARAGRAPH 2 SECOND LINE. THIS MIGHT BETTER READ LONGER NECESSARY OR APPROPRIATE TO MAINTAIN PARAGRAPH 2 THIRD LINE. SUBSTITUTE ''ADVANTAGES FOR
'ARGUMENTS IN SUPPORT''.
IT IS NO
1 1
...
1
PARAGRAPH 2B THIRD LINE.
AFTER ''A MORE OBJECTIVE'' ADD AND,
WE EXPECT, MORE FAVOURABLE'.
PARAGRAPH 2E. REFERENCES TO ''INTERNATIONAL'' PRACTICE MAY BE A SENSITIVE WITH THE CHINESE. IT MIGHT BE BETTER TO PHRASE THIS AS ''IT IS IN LINE WITH THE PRACTICE OF MOST OTHER MARKET ECONOMIES TO DISCLOSE
T T
PARAGRAPH 4. AS SUGGESTED IN OUR TELNO 149, YOU MIGHT TAILOR THIS PARAGRAPH TO SUIT THE REACTIONS FROM THE CHINESE TO THE
BRIEFING THUS FAR.
PAGE
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