TNAG-2477-FCO40-3607-The-Hong-Kong-Association-1992 — Page 48

no

fundamental conflict of interests

increases this year; comparison importance of invisibles

with other markets in region;

difficult to quantify but UK

clearly a very major player increasing importance as Hong Kong moves from a manufacturing to service economy; importance

of

partnerships between UK and Hong Kong companies; Hong Kong as a base for financing business elsewhere in the region (Shajiao C); aerospace business.

Infrastructural

not

projects: Hong Kong the world leader

just the airport. Massive opportunities and intense

competition. Delighted by UK success on Lantau Crossing clearly demonstrates international competitiveness of UK companies. Emphasise UK looks for no favours from Hong Kong

Government in award of airport contracts and certainly gets none. Business is rightly won through full and fair

competition.

within Hong Kong

Future of Hong Kong: no sense of gloom business is booming (look at property prices). 1997 increasingly seen as a time of opportunity and looking forward not of retrenchment. Important for us here to ensure UK business takes the

same view. UK fully implementation of Joint

have been and well. There will be differences of opinion but these should be resolved: Also very much in China's interest for Hong Kong to /remain economically successful

closely

Kong can

Declaration

to

•not a

bull point

committed

has repeatedly affirmed

is as

confident China Li

economies are

Сол

already very

interrelated, particularly in Guangdong where Hong provide the technical and financial skills to accelerate the rate of development. Hong Kong/Guangdong is already one vast fast developing economic growth area. There can be no going back.

Appointment of new Governor; his tasks and priorities.

(See attached sheet)

that it