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54.
Secondly, it is assumed that the Sino-British
Joint Declaration on the future of Hong Kong will be fully implemented, so that Hong Kong will continue to be an autonomous economy with a free enterprise system, free
trade and an international character. As a result, its
position as a manufacturing, trading, financial, transport and communications centre in the east Asian region will be
maintained, but with some changes in emphasis possible.
55.
Given these pre-conditions, there should be
ample scope for further development in Hong Kong-China economic relations in the future. Hong Kong should continue to provide China with the diversified range of
the services it needs but is unable to supply efficiently
for itself or to obtain conveniently from elsewhere.
China should continue to supply much of the goods for Hong Kong's daily needs. The implications of growing Hong
Kong-China economic relations for the longer term are
discussed in the following sections.
56.
(b) China's importance as a supplier of
essential commodities to Hong Kong
By the mid-1990s, in addition to China's
traditional role as an important supplier of water (at present, about half of the total consumption in Hong Kong) and foodstuffs (at present, about 40% of the total consumption in Hong Kong), China is likely to become a significant supplier of electricity, and perhaps also gas, to Hong Kong. In general, China is likely to remain the
largest supplier of imports (mainly consumer goods, and
raw materials and semi-manufactures) even in the longer
term. This degree of dependence on China for essential supplies might be a cause of concern, but given the
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