SECRET
CHINA'S TWELVE BASIC POINTS ON HONG KONG'S FUTURE
China will resume the exercise of its sovereignty over Hong Kong from 1 July 1997.
1.
2.
After China resumes the exercise of its sovereignty, the Hong Kong Special Administrative Region (SAR) directly under the authority of the Central People's Government will be established in accordance with Article 31 of the Constitution of the People's Republic of China. The Hong Kong SAR will enjoy a high degree of autonomy.
3. The Hong Kong SAR will be vested with the power of legislation and independent judicial power including that of final judgement. The laws, decrees and regulations currently in force will remain basically unchanged.
The government of the Hong Kong SAR will be composed of local inhabitants.
4.
The current social and economic systems in the Hong Kong area will remain unchanged. So will the lifestyle.
5.
6.
The Hong Kong SAR will remain a free port.
7. It will maintain the status of an international financial centre and its markets for foreign exchange, gold, securities and futures will remain open. There will be free flow of capital. The Hong Kong dollar will circulate and be freely convertible as usual.
8. The Hong Kong SAR will have its independent finances.
The Hong Kong SAR may establish reciprocal economic relations with Britain.
9.
10.
Using the name 'Hong Kong, China' the HongKong SAR may, on its own, maintain and develop economic and cultural relations and sign agreements with foreign countries and regions and the relevant international organisations.
11. Public order in the Hong Kong SAR will be kept by the government of the SAR.
12. The above stated policies for the Hong Kong SAR will be stipulated by the National People's Congress as the basic law of the Hong Kong SAR and will remain unchanged for 50 years.
SECRET
MKK040/5
R-CHIVED IN AL OPPY
ن الله
VELISTRY
CMIG/2