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property values, and political uncertainty over the future. With
uncertainty removed by the agreement, and Hong Kong's economy
benefitting from renewed confidence, the Financial Secretary looks
forward to a return to balanced budgets in a year's time.
(ii) FURTHER DEVELOPMENT OF REPRESENTATIVE
7.
GOVERNMENT
Meanwhile, in the aftermath of the agreement a further stage in the development of representative government in Hong Kong will take
place this year:
(a) the second round of elections to the local government District
Boards are taking place in March;
(b)
a provisional Regional Council will be established to provide a
regional representative body for the New Territories (having
the same functions as does the Urban Council for Hong Kong
Island and Kowloon); and
(c) in September the first (indirect) elections to Hong Kong's
Legislative Council will take place, to select 24 of the
Council's 56 members. A further review of progress towards
representative government will take place in 1987, before the
next Legislative Council elections scheduled for 1988.
Forexiera
Hong Kong Department
8 March 1985
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