II:
THE CONTENTS OF THE JOINT DECLARATION
1.
The Sino-British Joint Declaration on the future of Hong Kong is a unique document born of a unique set of circumstances. In the case of other British Dependent Territories, our policy has been to prepare them for eventual independence. In the case of Hong Kong, we are obliged by treaty to make arrangements for its return to Chinese sovereignty. But we have a responsibility to the people of Hong Kong to ensure that this change takes place in a way which will not affect the way of life and prosperity of the territory.
2.
The provisions of the Joint Declaration are designed to achieve this. The Agreement consists of a Joint Declaration by the two Governments and three annexes, the first of which describes in detail Chinese policies towards Hong Kong after 1997. The key provisions in this annex are as follows:
China will enact a Basic Law stipulating that the socialist system and socialist policies practised in the People's Republic of China shall not be extended to Hong Kong and that Hong Kong's capitalist system and lifestyle shall remain unchanged for 50 years.
Except in relation to foreign affairs and defence, the Hong Kong Special Administrative Region will enjoy a high degree of autonomy, including executive, legislative and independent judicial power.
The Government and legislature of the Hong Kong SAR will be composed of local inhabitants!, The Chief Executive will be selected by election or through consultations held locally and will be appointed by the Central People's Government.
The legislature will be constituted by elections. The executive authorities will be required to act in accordance with the law and will be accountable to the legislature.
The Hong Kong SAR will have its own legal system and laws after 1997. The laws will include those laws previously in force in Hong Kong before 1997, and laws passed by the legislature of the SAR, provided they do not contravene the Basic Law.
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