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131307
MDHOAN 4051
ГОР СОРУ
Q DIST?
Hus 187/7
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FM FCO
TO DESKBY 050030Z HONG KONG
TELNO 1947
OF 041952Z NOVEMBER 91
AND TO DESKBY 050030Z PEKING, UKREP JLG HONG KONG
PQS: AUTONOMY AND AIRPORT MOU.
#
1 GRATEFUL COMMENTS DESKBY 051000Z ON FOLLOWING PROPOSED WRITTEN REPLIES TO 2 PQS TABLED BY MRS TERESA GORMAN MP:
(A) A STATEMENT ON THE AUTONONY OF HONG KONG BEFORE AND AFTER 1997 ?
HONG KONG HAS IN PRACTICE LONG ENJOYED SUBSTANTIAL AUTONOMY IN MOST AREAS, PARTICULARLY IN ECONOMIC, COMMERCIAL AND FINANCIAL MATTERS. UNDER THE JOINT DECLARATION, FROM 1 JULY 1997 THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA WILL ENJOY A HIGH DEGREE OF AUTONOMY. EXCEPT FOR FOREIGN AND DEFENCE AFFAIRS IT WILL BE VESTED WITH EXECUTIVE, LEGISLATIVE AND INDEPENDENT JUDICIAL POWER.
(B) A STATEMENT ON THE NEW OBLIGATIONS AND UNDERTAKINGS CONTAINED IN THE AIRPORT MOU ?
THE MOU CONCERNING THE CONSTRUCTION OF THE NEW AIRPORT IN HONG KONG AND RELATED QUESTIONS, WHICH WAS PUBLISHED ON 4 JULY AND SIGNED IN PEKING ON 2 SEPTEMBER, PROVIDES A FIRM BASIS FOR THE HONG KONG GOVERNMENT TO BUILD A MODERN AIRPORT TO MEET THE EXPANDING NEEDS OF THE TERRITORY. IT HAS BEEN WIDELY WELCOMED IN HONG KONG AND INTERNATIONALLY, AS WELL AS IN THIS HOUSE. THE MEMORANDUM STATES THAT THE CHINESE GOVERNMENT WILL SUPPORT THE PROJECTS, INCLUDING BY PROVIDING CERTAIN ASSURANCES TO INVESTORS. IT WILL ALSO ADOPT A POSITIVE ATTITUDE TO NECESSARY AND REASONABLE HONG KONG GOVERNMENT BORROWING TO BE REPAID AFTER 30 JUNE 1997 AND TO CERTAIN AIRPORT-RELATED GRANTS, CONTRACTS AND GUARANTEES STRADDLING THAT DATE. THE HONG KONG GOVERNMENT WILL COMPLETE THE AIRPORT CORE PROGRAMME PROJECTS TO THE MAXIMUM EXTENT POSSIBLE BEFORE 30 JUNE 1997. IT WILL PLAN ITS FINANCES WITH THE FIRM OBJECTIVE THAT THE FISCAL RESERVES ON THAT DATE WILL NOT BE LESS THAN HKD 25 BILLION IF THE
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