TNAG-2756-FCO40-3973-Hong-Kong-Business-Works-Conference--London-address-by-John-1993 — Page 21

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FAX TRANSMISSION

Our Reference:

25 October 1993

PF Ricketts

HKD

FCO

Fax no

Page 1 of 2

Dear Peter,

CONFIDENTIAL

Mr Whitney,

British

logood ideas Trade Commission

to the.

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25/10

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Fco Comms

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Please pass Urgently

"HONG KONG WORKS" CONFERENCE:

tk's Co

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10.

10 NOVEMBER

Hong Kong

9th Floor, Bank of America Tower, 12 Harcourt Road, Hong Kong

Mail Address: GPO Box No 528, Hong Kong

Telephone: 523 0176

Telex: HX 73031 (a/b 73031 UKTRA HX)

Facsimile: (852) 845 2870

Cable Address: UK TRADE, Hong Kong

HKB 102/4

L8 OCT 1993

Thank you for sending me a copy of your submission of 21 October with which you attached a first draftles the Bes

Minister's speech.

On the commerczal side, I think that this conveys very much the right message to the very senior businessmen whom I imagine be present. But I think that parts of it could be pointed up a bit and the following suggestions are made with that in mind.

para 4. Second sentence might read: "Hong Kong is very auch part of this trend and is ideally placed to benefit from this growth..

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in

- para 4.

At the end you could illustrate the engine of growth point by saying that there are now 30,000 Hong Kong firms Guangdong Province alone employing some 3.5 million Chinese. Indeed the economies are very closely entwined now with about 40% of the Hong Kong bank notes in circulation being in China at any one time.

para 5. I think one should spread out a bit from power generation. After the first sentence, you could say: "There are colossal plans in other sectors as well - ports, airports, railways, manufacturing of all sorts as China strives to catch up.

Richard Needham has been

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pace 6 You may want to strengthen the "gateway of China" section. The first part of this p..agraph might read: That means thinking about Hong Kong. That is where the expertise in the China market is to be found in trading, in joint-ventures, in financial services operating successfully in one of the most benign environments for business anywhere in the world. Hong Kong as not the only way into China but it is a well tried, well signposted one with plenty of willing 'des. Business people in Hong Kong have been a vital moving force behind some of the most exciting commercial developments in China. I am glad to see

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