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the first of July 1997. It gives Hong Kong a high degree of autonomy whereby it will be able to administer itself and to pass its own legislation. It allows Hong Kong to continue to decide its own economic, financial and trade policies and to participate in international organisations and agreements. It preserves Hong Kong's familiar legal system and the rights and freedoms enjoyed there. In short it provides the assurances for the future which Hong Kong needs, in order to continue to play its unique role in the world as a trading and financial centre.
6.
These qualities have been recognised in the agreement by the British Parliament and the National People's Congress of China, which have approved the intention of our Governments
our Governments to proceed to signature. The agreement has been subject to a thorough public debate among those whose future it will determine the people of Hong Kong. Although they have expressed some reservations and sought clarification on particular points, they have clearly judged it acceptable to them as a whole. The agreement has been widely praised by other Governments, in international organisations and in financial and economic circles. The Secretary General of the United
Nations has described it as an example for other countries of the way in which difficult international problems can be successfully resolved. Hong Kong can I think count on widespread international goodwill and support in the future.
7. I should like to pay a tribute to the leaders of China for the vision and farsightedness of their approach to the negotiations. The concept of preserving two different political, social and economic systems within one nation has no precedent. It offers an imaginative response to the special historical circumstances of Hong Kong. Though circumstances elsewhere are very different, it perhaps also offers an example of principle to other divided nations in the
world today.
8.
The agreement is a basis on which the people of Hong Kong will build. They will bring to the task the energy, persistence and determination for which they are rightly famous throughout the world. I am confident that they will make Hong Kong an even more
flourishing place than it is today.
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