TNAG-2753-FCO40-3968-Budget-of-Hong-Kong-1993 — Page 6

2 March 1993

SECRET

HKB

100/3

RECEIVED IN REGISTRY

30 MAR 1993

100/3

Foreign & Commonwealth

Office

14

DESK OFFICER

JP McIntyre Esq

IN TX

PA

REGISTRY Action Taken

London SWIA 2AH

HMT

Telephone: 071-

Dear Paul,

HKG RESERVES

1. The Governor told Lu Ping during his October visit to Peking that he would give him advance warning of any changes in the reserves. Enclosed is a copy of a letter which the Governor has sent to Lu Ping which indicates the revised forecast for the fiscal reserves at 31 March 1997 (please note that the letter was slightly amended before it was handed over to indicate which financial year each of the columns refers to). This information will be made public tomorrow as an appendix to the Financial Secretary's Budget Speech

2. I am copying this letter to Chris Elston at the Bank of England.

Your ever

Nigel

NC G Whitney

Hong Kong Department

cc

C D Elston Esq, Bank of England

SECRET

hkg.ADM.JRB