WEDNESDAY, SEPTEMBER 26, 1984
+THE AGREEMENT ALSO ENSURES THAT HONG KONG'S ECONOMIC LIFEBLOOD CAN CONTINUE FLOWING WITH THE SAME VIGOUR IN THE FUTURE AS IT HAS IN THE PAST. THE FOUNDATIONS OF HONG KONG'S ECONOMIC SUCCESS HAVE BEEN A FREE MARKET ECONOMY, A FREE PORT, DYNAMIC INDUSTRIES, ASSURED ACCESS TO MARKETS IN THE INDUSTRIALISED WORLD AND A FREELY CONVERTIBLE CURRENCY. THE CONTINUATION OF ALL THESE KEY ELEMENTS IS PROVIDED FOR IN THE TEXTS.
+THE IMPLEMENTATION INTERNATIONALLY OF SOME OF THE PROVISIONS OF THE AGREEMENT REQUIRES FURTHER WORK BY THE BRITISH AND CHINESE GOVERNMENTS, IN SOME CASES IN CONSULTATION WITH OTHER GOVERNMENTS,
THIS WILL NOTABLY THOSE OF HONG KONG'S PRINCIPAL TRADING PARTNERS. BE ONE OF THE FIRST MATTERS FOR DISCUSSION WITHIN THE SINO- BRITISH JOINT LIAISON GROUP, WHICH IS TO BE SET UP AS SOON AS THE JOINT DECLARATION COMES INTO FORCE. I AM CONFIDENT THAT THE GOVERNMENTS OF HONG KONG'S MAIN PARTNERS CAN BE PERSUADED TO ACCEPT THAT THE SUCCESS OF THIS AGREEMENT WILL BE IN THE WIDER INTEREST. THIS WILL ENABLE HONG KONG'S NETWORK OF EXTERNAL ECONOMIC RELATIONS TO BE MAINTAINED AND DEVELOPED, AND IN PARTICULAR ALLOW THE RIGHTS OF ACCESS TO OVERSEAS MARKETS FOR HONG KONG'S GOODS, NOW SET OUT IN A SERIES OF MULTILATERAL AND BILATERAL AGREEMENTS, TO BE PRESERVED.
+LAND HAS ALWAYS PLAYED AN IMPORTANT ROLE IN THE ECONOMY OF HONG KONG. THE AGREEMENT PROVIDES FOR THE CONTINUATION OF EXISTING LAND GRANTS: AND THE MEANS WHEREBY NEW LAND MAY CONTINUE TO BE MADE AVAILABLE TO MEET HONG KONG'S FUTURE NEEDS. MANY EXISTING LEASES EXTEND BEYOND 1997: SUCH LEASES, AND THE RIGHTS IN SUCH LEASES WILL CONTINUE TO BE RECOGNISED AFTER THE ESTABLISHMENT OF THE HONG KONG SPECIAL ADMINISTRATIVE REGION. OTHER LEASES, WHICH ARE DUE TO EXPIRE ON OR BEFORE 1997, MAY BE RENEWED FOR 50 YEARS AFTER THAT DATE: NEW LEASES WILL BE GRANTED EXTENDING UP TO THE YEAR 2047. THE UNCERTAINTY CONCERNING EXISTING RIGHTS IN LAND AND FUTURE LAND TENURE HAS THUS BEEN REPLACED BY DETAILED PROVISIONS WHICH SHOULD GIVE CONFIDENCE AND ENCOURAGE INVESTMENT.
+ THE CHINESE GOVERNMENT HAS ALWAYS REGARDED ALL HONG KONG CHINESE AS CHINESE NATIONALS: THE MAJORITY OF THEM HAVE BEEN REGARDED AS BRITISH NATIONALS UNDER BRITISH LAW. IN SUCH CIRCUMSTANCES A SOLUTION WAS NOT EASY. IT HAS BEEN FOUND IN A PRACTICAL ARRANGEMENT. IT IS OBVIOUS THAT THE STATUS OF BRITISH DEPENDENT TERRITORIES CITIZEN CANNOT CONTINUE AFTER 1997. BUT ALL PRESENT BRITISH DEPENDENT TERRITORIES CITIZENS AND THOSE WHO WILL BECOME BRITISH DEPENDENT TERRITORIES CITIZENS UP TO JUNE 30, 1997 WILL BE ELEGIBLE FOR A NEW STATUS. THIS WILL ENABLE THEM TO OBTAIN BRITISH PASSPORTS OF A NEW TYPE BEFORE THIS DATE, AND TO CONTINUE TO TRAVEL ON THEM AFTER THAT DATE IF THEY SO WISH. THE IR RIGHT TO TRAVEL FREELY IS ENSHRINED IN THE AGREEMENT.
+I RECOGNISE