and other essential aspects of the present system, are clearly
provided for.
Section IV: The Public Service
The main objection of the provisions in this section is to ensure
the continuation in Hong Kong of am impartial, stable and effective
public service. It states that serving officers will be able to
continue to serve on terms and conditions no Less favourable than
before. It provides for the continued employment of foreign
nationals in all but the highest points. Pensions and their
benefits will be paid by the SAR Government on terms no less
favourable than before.
Section V: The Financial System
The key points in this section are that the SAR Government will determine its own fiscal policy; there will be no requirement to
remit revenue to the Central
to the Central People's Government; and the present systems of the accountability to the legislature for all public expenditure and impartial auditing of public accounts will be
retained.
Section VI: The Economy and External Trade
The key elements in this important section are the provisions for Hong Kong's right to contifnue to determine its economic policies, including trade policies, according to its own needs; the continuation of its free enterprise system, the free trade policies and the free port; and the continuation of individual rights and freedomes in economic matters. The Hong Kong SAR will continue to
enjoy autonomy in its external trade relations (e.g. through separate participation in the GATT and the Multi Fibre Arrangement).
Section VII: The Monetary System
This section provides for the continuation of all the essential elements of Hong Kong's monetary system, in particular a freely convertible currency, and the right of the Hong Kong authorities to