05-JAN-1993 15:40
CONSTITUTIONAL AFFAIRS BR
+ 852 840 1976
P.12
Q.
A.
11
that contracts straddling 1997 will have to be discussed in the JLG. Both sides are doing that now. Certain contracts that straddle 1997 have been discussed. Some have been resolved. One example is China Light and Power. After JLG discussions both sides came to an agreement. The method was for the Chinese representatives of the JLG to write CLP a letter (to confirm the validity of the contract after 1997).
If this is not' a new problem why would China, at a time when Hong Kong is in a confidence crisis, issue
such a statement?
That is precisely the issue.
In the past it was handled within the JLG and on what basis? It was on a basis of convergence, on a basis of mutual trust. Now
that the British do. not want convergence and trust, there is no longer mutual trust. This is why we need to publicise the issue, hoping that the Hong Kong public could help monitor it. This is to protect investors especially their interests after 1997, so
they'11 remain confident about investing in HK, assuring them that contracts are valid after 1997.
say
We
when we deal with these contracts, we will adopt a very responsible and positive attitude to give full assurances to investors.
Q.
A.
Do you want investors to talk directly with the Chinese side?
This issue will be dealt with in the JLG. We asked
Britain to discuss at the JLG all contracts straddling
1997. CLP is an example of a problem solved this way.