TNAG-2766-FCO40-3983-Hong-Kong-and-the-media-interviews--press-briefings-and-the--1993 — Page 130

Commercial

UNCLASSIFIED

Current economic boom should be exploited by UK companies. Enthusiasm of Mr Needham (3 visits in 6 months). China imported goods worth over US $70 billion in 1992 comparable to Switzerland or Singapore or Brazil Mexico combined.

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- 1992 export figures not yet available. Likely to be 15-20% up on 1991 but not good enough.

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October CBTG mission led by Lord Prior and Mr Needham went well (generated over £70 million of business). Next major CBTG mission in May.

Decisions on further ATP/Concessional Finance Arrangement remain held up for several reasons inter alia public expenditure constraints and state of bilateral relations. But decisions to support British trade for Canton (Guangzhou) metro rolling stock likely soon.

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UNCLASSIFIED