SECRET
HONG KONG LAND LEASES IN NEW TERRITORIES
1.
Question of long-term future of Hong Kong difficult.
Meanwhile essential to sustain
Needs careful consideration.
Hong Kong's prosperity and stability.
2.
Short-term concrete problem over granting of individual
land leases in the New Territories.
At present only valid
up to 1997. Need to find way of giving investors property
rights which could continue beyond 1997. Can be done without
affecting Chinese position on Hong Kong.
3.
Short-term problem will become critical in mid-1982.
From then lease periods will become shorter than standard
mortgage in Hong Kong (15 years*).
and legal difficulties for investors.
Increasing technical
4. We should aim at arrangements to deal with this by
end of 1981. Suggest using individual cases to work out
an acceptable system.
6.
Both sides need to consider. We will revert in due course.
*NB
Mortgage :
抵押
(diya)
SECRET