TNAG-2501-FCO40-3639-Relations-between-Hong-Kong-and-Commonwealth-countries-1992 — Page 24

CONFIDENTIAL

Singapore and Hong Kong

on

26. China's decision

decision to modernise and expand its economy

economy in part through imports of foreign technology and reliance on foreign investment and expertise, has focused Singapore's attention not only China itself, but also on Hong Kong, for so long China's principal trade outlet to the world. The Singapore government welcomed the agreement on Hong Kong reached in September 1984 between China and Britain, though it emphasised the need for the "right spirit" in interpreting and implementing the declaration and its annexes if investors' confidence in Hong Kong was

sustained.

to

be

27. At the same time, it is clear that Singapore is coming to and promote itself as an alternative "gateway" to China for those wanting to do trade with the PRC. Its

Its rivalry with Hong Kong, how- ever, has not prevented it in recent years from showing interest in attracting skilled personnel, both technical and professional, from

It has sought, for Hong Kong.

instance, to make use of the expertise acquired by people involved with the Hong Kong Mass Transit Railway in the construction of a similar system in Singapore. It has also encouraged Hong Kong investors and entrepren- while the Singapore media, academic institutions and government-run enterprises are reported to have advertised in Hong Kong for skilled professional staff.

eurs;

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CONFIDENTIAL