h Kiu Yat Po 31/12/82 (report)
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China and Britain should expedite a now
agreement on HK's future
NG
Addressing members of the Y's Men's Club at a luncheon meeting yesterday, Mr Ng Tortai, a real estate developer, urged China and Britain to work out a new agreement on Hong Kong's future as soon as possible. He felt that Hong Kong should be turned into a trust territory under British administration during the transitional period before it reverted to China.
He pointed out that the 1997 issue and worldwide economic recession had been worrying the investing public in Hong Kong. Once an agreement was reached on Hong Kong, business would be brisk again.
Hong Kong being made a British trust territory would be beneficial to both China and Britain. (1) Hong Kong people would continue to work efficiently if they were leading a stable life; (2) China would contime to derive economic benefits from this form of government; (3) China could assimilate foreign technology and cultures; (4) Hong Kong under British administration would be a great boost to China's military affairs.
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Should China take back Hong Kong and implement the scheme to let Hong Kong people run their own territory, it would be difficult for China to absorb foreign technology from Hong Kong. The onset of the takeover would also precipitate an unsettling period in which both local and foreign · investors would hesitate to make any investment in Hong Kong.
So, a new agreement should be worked out between the Chinese and British governments as early as possible to ensure the continuation of British administration over Hong Kong until China had achieved its moderni-
sation.