FRIDAY, MAY 1, 1987
•HONG KONG A SAFE PLACE TO DO BUSINESS'
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HONG KONG IS A SAFE PLACE TO DO BUSINESS GIVEN ITS SOUND LEGAL SYSTEM WHICH IS GROUNDED IN THE COMMON LAW AND AN ESTABLISHED FREEDOM OF CONTRACT AND A RELIABLE AND FAIR JUDICIAL SYSTEM, THE ATTORNEY-GENERAL, MR MICHAEL THOMAS, SAID IN BRUSSELS YESTERDAY (THURSDAY).
SPEAKING AT A LUNCH MEETING OF THE BRITISH CHAMBER OF COMMERCE FOR BELGIUM AND LUXEMBOURG, MR THOMAS DREW ATTENTION TO THE SPECIFIC ASSURANCES CONTAINED IN THE SINO-BRITISH AGREEMENT REGARDING THE CONTINUED INDEPENDENCE OF HONG KONG'S LEGAL AND AND JUDICIAL SYSTEM UP TO AND AFTER 1997.
CONSIDERATION WAS ALREADY BEING GIVEN TO THE ESTABLISHMENT OF A FINAL COURT OF APPEAL IN HONG KONG, AS PROVIDED FOR IN THE AGREEMENT, IN THE EARLY 1990'S, HE ADDED.
ASKED ON HONG KONG'S FUTURE POSITION AS A FINANCIAL CENTRE, MR THOMAS EXPRESSED CONFIDENCE, NOTING HONG KONG'S IMPORTANCE TO CHINA AS WELL AS ITS ROLE AS A GATEWAY TO CHINA.
+HONG KONG'S WELL REGULATED BANK ING SECTOR, SECURITIES AND COMMODITIES EXCHANGES AND FINANCIAL SERVICES SECTOR GENERALLY MAKE IT AN ATTRACTIVE CENTRE FOR INSTITUTIONAL INVESTORS AS WELL,+ HE SAID.
MEANWHILE, AT A LUNCH MEETING OF THE NETHERLANDS-HONG KONG SOCIETY IN AMSTERDAM ON WEDNESDAY (APRIL 29), MR THOMAS WAS ASKED ON THE LEGAL AND FINANCIAL SAFEGUARDS FOR OVERSEAS INVESTORS IN HONG KONG AFTER 1997.
HE REITERATED THAT THE SINO-BRITISH AGREEMENT GUARANTEED THE CONTINUATION OF HONG KONG'S INDEPENDENT LEGAL SYSTEM AND JUDICIARY FOR 50 YEARS AFTER 1997.
+THE BASIS OF HONG KONG'S LEGAL SYSTEM IS, AND WILL REMAIN, THE COMMON LAW,+ HE STRESSED.
REPLYING A QUESTION ON THE LINK BETWEEN THE HONG KONG DOLLAR AND THE U.S. DOLLAR, MR THOMAS REFERRED TO THE FINANCIAL SECRETARY'S RECENT STATEMENT THAT THERE WERE DEFINITELY NO PLANS TO BREAK OR CHANGE THE LINK.
HE ALSO TOLD THE MEETING THE EXCELLENT RECORD OF CO-OPERATION AND CONCRETE ACHIEVEMENTS OF THE JOINT LIAISON GROUP AND THE LAND COMMISSION, AND THE CURRENT HEALTHY STATE OF THE ECONOMY AMIDST CONCERNS OVER PROTECTIONIST TRENDS IN HONG KONG'S MAJOR MARKETS.
ON IMMIGRATION MATTERS, MR THOMAS OUTLINED THE RECENT MEASURES TAKEN TO STEM THE INFLOW OF CHILD ILLEGAL IMMIGRANTS AND THE CONTINUING PROBLEM OF VIETNAMESE REFUGEES AWAITING RESETTLEMENT FROM HONG KONG.
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