Mr Major’s Written Parliamentary Answer on Hong Kong (United Kingdom Assets) – 20 February 1990

Below is the text of Mr Major’s written Parliamentary Answer on Hong Kong (United Kingdom Assets) on 20th February 1990.

Mr. Heseltine To ask the Chancellor of the Exchequer what calculations he has made of the value of United Kingdom assets in Hong Kong.

Mr. Major Information is available only for certain categories. The latest information for direct investment is for end-1987 when the book value of United Kingdom direct investment in Hong Kong was £1,924 million. There is no information on United Kingdom portfolio investment by country. Information is available on external assets and claims on Hong Kong by banks and other financial institutions in the United Kingdom. (See table 14 of the Bank of England Quarterly Bulletin.) At end of September 1989 United Kingdom liabilities to Hong Kong were £18,781 million whilst United Kingdom claims on Hong Kong were £18,446 million.