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DSR 11C (Revised 5/87)
13. The Joint Declaration sets out the essentials of
what the two governments have agreed. It outlines the
policies of the Chinese Government towards Hong Kong
after 1997, which are further elaborated in Annex I.
Paragraph 7 stipulates that the two governments agree to
implement the Joint Declaration and Annexes. It has the
effect of making them legally binding on both parties.
PRIVACY MARKING
In Confidence
14.
convenience,
The all important detail of the Agreement is
contained in the Annexes. The first Annex elaborates
Chinese policies towards Hong Kong after 1997. (For
Annex I to this Memorandum contains a
summary of the key points and an indication of their
importance to the maintenance of those features of Hong
Kong which account for its success.) The second Annex to
the Joint Declaration describes the terms of the Joint
Liaison Group (see paragraphs 19-20 below). The third
Annex to the Joint Delcaration deals with the question of
land leases, which are to be dealt with through the work
of the Land Commission (see paragraph 21 below). The
associated Exchange of Memoranda is dealt with in greater
detail in the section of this Memorandum on nationality
(paragraphs 49-53 below).
VI: Hong Kong since the signing of the Joint
Declaration:
the Economy
15.
As indicated earlier, while the question of Hong
Kong's future remained unresolved, Hong Kong faced the
prospect of a steady erosion of confidence and a decline