AUG 22 '91 11:15 BRITISHEMBASSYPEKING
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IDENTICAL
B. The Chinese Government will support the construction of the
new airport and related projects. It will indicate clearly to
interested potential investors in accordance with the principles
enshrined in this Memorandum that obligations related to the
airport projects entered into or guaranteed by the Hong Kong
Government will continue to be valid and be recognised and
protected by the Hong Kong Special Administrative Region:
Government from 1 July 1997. The Chinese Government have accepted
that the Bank of China will play an appropriate part, for example
in the syndication of loans for the airport projects, and that
Chinese construction firms may compete in the normal way for
projects connected with the airport.
C. On important matters relating to the airport project that
straddle 30 June 1997, the Chinese and British Governments will
carry out consultations in a spirit of cooperation and in
accordance with the Sino-British Joint Declaration. An Airport
Committee will be constituted for this purpose under the auspices
of the Sino-British Joint Liaison Group, with membership drawn
equally from both sides. Its tasks will be as follows:
(i) The British side will consult the Chinese side within the
Airport Committee before the Hong Kong Government grants major
airport-related franchises or contracts straddling 30 June 1997 or
guarantees airport-related debt straddling 30 June 1997. The
Chinese side will adopt a positive attitude to such grants,
contracts and guarantees:
Up to one month after the British side.
provide details of the proposals will be allowed for discussion
: