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3.
CHINA'S INTENTION REITERATED:
Chinese Premier, Mr. Zhao Ziyang, reiterated China's intention to regain sovereignty over HK when he gave an interview to Australian journalists in Beijing. He said worries about HK's future were exaggerated. The drastic fall in property prices and the economic slump were caused by global economic factors rather than the 1997 question. But China would take over HK in 1997, he said.
Later in the week a HK Times commentator challenged his statement. He quoted figures released by the US Department of Commerce to show that US$1 500 million has flowed out of HK to the US in the past two years. This flight of funds was due to apprehension about a Chinese takeover rather than the world economic recession. He also viewed Mr. Zhao's remark that China would regain sovereignty in 1997 as a softening in Beijing's stand compared with Liao Chengzhi's statement earlier that China would take over HK at any time if the territory's economy deteriorated.
4.
SAR LAW:
The 16 March issue of Wide Angle said the National People's Congress would spell out the basic organisational law of an SAR in the form of a “mini constitution” to provide a legal framework for establishing HK as an SAR. The plan was revealed by members of China's Academy of Social Science to a Wide Angle reporter, who accompanied a team of the New HK Institute (formed by intellectuals who support the reversion of sovereignty over HK to China) during their recent visit to Beijing.
Members of the Academy said the future SAR government in HK would be made up of people who backed the reversion of HK to China. These administrators would recognise that the People's Republic of China was the sole legitimate Government in China and that HK was part of Chinese territory. It would not bother China(very much whether they were supporters of socialism or advocates of different beliefs or systems. It was China's basic policy to maintain HK's social system; it was the responsibility of people in HK to examine and implement any reforms here. Such reforms should be supported by the majority and conducive to HK's stability and prosperity. The future municipal council would become the law-making body. The president would be either elected or chosen by a consultative process as the situation then warranted. His appointment would be endorsed by the Central Government in China. He might attend the NPC or the Chinese Communist Party's Political Consultative Conference. China's policy towards HK would be outlined in a statement when conditions were ripe. It would be a broad guideline with room for manoeuvre, details of which would have to be drawn up by HK itself.
Members of the Academy also said the Chinese Government would not be accountable to its ancestors, populace and descendants as well as international opinion
if it did not regain sovereignty over HK. Any proposition to extend British rule here would not be acceptable to China.
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