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for its administration.
Thirdly and most importantly, the Agreement provides a blueprint for continuity in Hong Kong of its present social, economic and legal systems as well as its lifestyles and personal rights and freedoms for 50 years beyond 1997. This is based on the novel concept of "One country - two systems".
For the past 18 months, I have been travelling to many parts of the world including Japan, Europe, UK, Canada and the USA and making speeches to international business community on the future of Hong Kong. Invariably, they asked the same two questions. The first one wası "How will Hong Kong fare from the Sino-British Agreement?"
Well, according to the Agreement, Hong Kong will retain the status of a free port, a separate customs territory, and an
Foreign exchange, gold, international financial centre.
The
There will
securities and commodity future markets will continue, Hong Kong dollar will remain freely convertible, be no restriction on foreign investment and on flow of capital. Hong Kong will manage its own finance and China will not levy
This free enterprise capitalist economy any taxes in Hong Kong. environment will in fact be assured by two great powers for 60 years. Can any one find a better or even similar place anywhere in the world?
For the international business community, the terms and provisions of the Agreement will provide a sound basis for long-term confidence in Hong Kong, a good platform from which international businessmen can actively and confidently operate in the remarkable development taking place throughout the Asian Pacific Region and, In particular, in China's modernization
in
a process which will ultimately bring one quarter of the world's population into the mainstream of the, international economy.
Since the signing of the Sino-British Agreement by the two Prime Ministers in December 1984, there has been significant progress made in the early stage of its implementation,
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