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There have been notable achievements on defence lands, the airport and cross border co-operation, but too many uncertainties have been left unresolved.
Issues that have drawn concerns include the right of abode, the Court of Final Appeal, Container Terminal No. 9 and the future of the civil service.
People would like to see these issues settled so that they can take assurance for the future and plan with more confidence.
"The British and the Hong Kong Governments will do all that they can to enable this to be done.
"I am sure that the Chinese side appreciate their importance to Hong Kong.
"It is in the common interest of Britain and China, too," he said.
Britain doesn't just have a moral obligation to discharge its responsibilities to Hong Kong faithfully, it also has a huge interest in Hong Kong's success after 1997, an interest that comes from the huge investments of British companies in the territory, hc said.
By that measure of economic interest, China has an even greater reason for wanting Hong Kong to do well than has Britain, he added.
"A place to start would be the forthcoming Preliminary Working Committee seminar on the future of Hong Kong as an international financial centre."
It will be reassuring to many people if that seminar produces as strong an endorsement of Hong Kong's fundamental virtues as an economy, and as unequivocal a commitment to uphold them, as I have given today, he said.
"I'm sure that officials from the Hong Kong Government would be happy to take part and give the benefit of their experience and advice if asked.
"Beyond that, words need to be acted on with concrete agreements. I do very much hope that more of these will be forthcoming over the next few months.
"The Hong Kong Government, as ever, will be doing all that it can to assist and explain, to help Chinese officials to take those steps that the people of Hong Kong and international investors alike would all welcome," he said.
End/Monday, January 23, 1995