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MONDAY, OCTOBER 15, 1984
ON THE ARRANGEMENTS ABOUT LAND LEASES, HE MADE THE FOLLOWING SUGGESTIONS:
* LAND LEASES NOT HAVING THE RIGHT OF RENEWAL
AND EXPIRING AFTER JUNE 30, 1997, SHOULD ALSO BE EXTENDED FOR A PERIOD EXPIRING NOT LATER THAN JUNE 30, 2047, WITHOUT ADDITIONAL PREMIUM, BUT AT AN ANNUAL RENT EQUIVALENT TO THREE PER CENT OF THE CURRENT RATE ABLE VALUE OF THE PROPERTY FROM THE DATE OF EXTENSION;
* THE PRACTICE THAT LEASES WHERE THE LAND IS
ZONED FOR GOVERNMENT, INSTITUTIONAL, COMMUNITY USE OR AS OPEN SPACE ON TOWN PLANS ARE NOT REGRANTED SHOULD CONTINUE, BUT INSTEAD OF GOVERNMENT TAKING SUCH PROPERTIES INTO MANAGEMENT ON EXPIRATION OF THE LEASES, EXTENSIONS SHOULD BE GRANTED WHICH WOULD TAKE ACCOUNT OF THE NEED OF DEVELOPMENT PROGRAMMES AND THAT SIMILAR ARRANGEMENTS SHOULD ALSO BE ADOPTED AFTER 1997;
* THERE SHOULD BE A COMMITMENT FOR 'LEASES
FOR SPECIAL PURPOSES' TO BE FURTHER EXTENDED UPON EXPIRY EVEN BEYOND 1997 IN ORDER TO GIVE THE LEASE HOLDERS CONCERNED AN ASSURANCE OF CONTINUITY SO THAT THEY MAY CARRY OUT FURTHER DEVELOPMENT BEFORE 1997 IF NECESSARY, PROVIDED THEY CONTINUE TO SERVE THE PURPOSE FOR WHICH THE LEASES WERE ORIGINALLY GRANTED: AND
* THE LIMIT OF NEW LAND TO BE GRANTED EACH YEAR SHOULD BE APPLIED WITH REASONABLE FLEXIBILITY.
MR HU CALLED ON THE PEOPLE OF HONG KONG TO HAVE FAITH IN THE IR FUTURE BECAUSE THE FUTURE PROSPERITY OF HONG KONG WAS IN THE IR HANDS.
+AT THE SAME TIME, WE MUST BE PREPARED TO ACCEPT NEW CHALLENGE IN OUR POLITICAL STRUCTURE WHICH WILL GRADUALLY EVOLVE TOWARDS REPRESENTATIVE LINES.
+HOWEVER, WE MUST BEAR IN MIND THAT IN ANY EVENT, PROSPERITY AND STABILITY CANNOT BE SACRIFICED FOR ACHIEVING DEMOCRACY IN A HURRY AS IT MIGHT DAMAGE A GOOD INVESTMENT ENVIRONMENT.
+HONG KONG WILL ONLY BE OF USE TO CHINA IF IT REMAINS PROSPEROUS AND STABLE, HE SAID.
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