TNAG-2815-FCO40-4061-Future-of-Hong-Kong-International-Rights-and-Obligations-(IR-1993 — Page 178

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MDHIAN 3399

5. ON THE QUESTION OF FINANCIAL GUARANTEE, WE AGREE THAT UKDEL AND HIS CHINESE COUNTERPARTS SHOULD CONTINUE TO PRESS THE BANK/FUND TO BE FLEXIBLE IN VIEW OF THE FINANCIAL AUTONOMY ENJOYED BY HONG KONG BEFORE AND AFTER 1997. WE REMAIN OF THE VIEW THAT A FORMAL FINANCIAL GUARANTEE BY THE SOVEREIGN GOVERNMENTS ON HKG'S ASSURANCE IS UNNECESSARY. HOWEVER, WE DO NOT HAVE ANY STRONG VIEWS ON AN ENDORSEMENT TO BE MADE BY THE UK AND CHINA IF IT REMAINS A STICKING POINT.

6. UK REP JLG CONCURS.

PATTEN

YYYY

ΜΑΙΝ

24

DISTRIBUTION

35

.HK FINANCIAL

.CDIALOGUE)

HKD

PUSD//HD

ECONOMIC ADVISERS//HD

ERD//HD

RAD//MR WYE

PS

PS/MR GOODLAD

PS/PUS

SIR J COLES

MR HUM

FED//HD

ADDITIONAL

11

CAOFF//SIR R BRAITHWAITE

CAOFF//MS DL CORNER CAOFF//MR SIBSON

CAOFF //MISS NEVILLE JONES BANK ENG// MR A CROCKETT

BANK ENG//MR C ELSTON

BANK ENG//MR LATTER

HMT//PS/CHANCELLOR

HMT//MR MORTIMER

HMT//MRS WOOD

HMT//MS H ROBERTS

NNNN

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