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the present local systems will be preserved and that Hong Kong must be maintained as an international centre will not be enough by themselves to maintain confidence. This was seen very vividly recently in financial fluctuations in Hong Kong.
It is quite clear that the prosperity of Hong Kong depends on confidence. Of course this cannot exist unless we have good relations between Britain and China bilaterally and directly over Hong Kong. But confidence also depends on other things as well, such as:
a stable and internationally respected currency
a financial and tax regime favouring business enterprise and which is not liable to sudden change. As you know Britain derives no revenue from Hong Kong
a formal and internationally respected system of law
the maintenance of public order
the freedom of its political and economic systems
/British administration
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