Talks on HK airport funds

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The Independent Online
HONG KONG - The deadlock between China and Britain over the funding for the planned 112.2bn Hong Kong dollar ( pounds 7.4bn) airport eased yesterday when Chinese officials formally tabled new proposals for restructuring the financial package, writes Teresa Poole.

British officials said the Chinese ideas would be studied seriously and another meeting between the two sides was likely next week.

China is concerned at the high level of debt it will inherit with the project in 1997. It wants the Hong Kong government to increase its direct funding by using some of the revenues generated from property development along the airport railway to pay for the airport rail link.

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