CONFIDENTIAL
4. If there is time for us to set up the first of these regular contacts, I would like to do so in late March. But I will discuss this further with Sir John Coles and with the Governor. For the moment we should take comfort from Mr Broadbent's conclusion that the economic and budgetary outlook in Hong Kong is better than before- although he rightly underlines the key role which issues of export credit and the absence of a Chinese "guarantee" will play over the next five years.
EM4 AAH
CONFIDENTIAL
Andan Bran
RA Burns
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