The
The judicial system in Hong Kong will remain essentially unchanged. Hong Kong will have its own Court of Final Appeal. independence of the judiciary and the prosecuting authority will be
maintained.
There will be continuity in the public service and serving
officers will be able to continue to serve after 1997 on terms and
conditions no less favourable than before.
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There
The SAR Government will determine its own fiscal policy.
will be no requirement to remit revenue to the Central People's
Government. The present systems of accountability to the legislature for all public expenditure and impartial auditing of
public accounts will be retained.
Hong Kong will continue to determine its own economic and trade
policies. Its free enterprise system will continue. It will retain
its role as a free port.
Hong Kong will continue to have a freely convertible currency.
The Hong Kong SAR will manage the Exchange Fund (which provides the
backing for the note issue and is used to regulate the exchange value of the currency).
Hong Kong will retain its position as a major shipping centre. It will have its own Shipping Register. Merchant shipping will have free access to Hong Kong ports.
All scheduled air services touching the Hong Kong SAR will be regulated by separate agreements concluded by the SAR Government. Hong Kong will enjoy autonomy in many civil aviation matters (eg
licensing local air lines, maintaining its own aircraft register).
Hong Kong will be able to operate its own distinct system of
education, separate from that in other parts of China.
While defence and foreign affairs are the responsibility of the
Central People's Government, the Hong Kong SAR will manage certain aspects of its external relations: it will be able to negotiate
MOPAAD5