13. After the September elections business interests in
LegCo represented by appointed and functional constituency members, formed a group called the Co-operative Resources
Centre (CRC), led by Mr Allen Lee. The CRC intends to turn itself into a political party shortly in order to prepare for the 1995 LegCo elections.
14.
Other political parties include the pro-Peking Democratic Alliance for the Betterment of Hong Kong), formed in May 1992 and the smaller liberal parties: Meeting Point and Association for Democracy and Peoples' Livelihood
(ADPL), which have 3 LegCo seats between them; and the Hong Kong Democratic Foundation (HKDF).
New Airport
15.
After lengthy negotiations between the Chinese, British
and Hong Kong Governments, agreement on Hong Kong's new
airport was finally reached in late June 1991. A detailed Memorandum of Understanding on how Hong Kong will deal with the airport and on related issues was signed by the Prime Minister and Chinese Premier in Peking on 3 September
1991.
16.
The MOU is a detailed document which clearly states China's support for the airport project and gives the Hong Kong Government the certainty it needs to proceed with
the project. It sets out that China will indicate to investors that contracts etc will be honoured after 1997. The Hong Kong Government will complete as much as possible of the airport core projects before 30 June 1997. To facilitate cooperation on major airport-related projects, an Airport Committee has been constituted under the Joint Liaison Group. More generally, the Hong Kong Government will be able to borrow up to HK$5 billion with maturity post-1997: if it wishes to borrow more, this must be agreed with the Chinese but they have undertaken to take a positive attitude to reasonable proposals. Finally the Hong Kong
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