5-
"Well, quite frankly, these claims are totally misguided and misleading," said the Chief Secretary, adding that the agreement reached on June 9 was in Hong Kong's best interests.
"The only alternative, quite frankly, is a judicial vacuum in 1997 until the SAR Government sets up the CFA, at a time and on a basis about which there can be no certainty."
Besides the rule of law, said Mrs Chan, a second guarantee of Hong Kong's successful capitalist system was a sound and effective infrastructure..
"It is important for Hong Kong to maintain its status as a centre of global and regional aviation, as well as an international financial and business centre," she said, welcoming Financial Support Agreements reached with the Chinese side.
With the two major agreements reached in quick succession and coupled with her recent visit to Beijing, said Mrs Chan: "I very much hope that we will now enter into a period of most positive co-operation between the British/Hong Kong and the Chinese governments."
The Chief Secretary also outlined a number of essential tasks which needed to be resolved to ensure a smooth transition.
These include the immigration issues, container terminals, air services agreements and retirement protection as well as the localisation and adaptation of laws.
The key to maintain Hong Kong's overall stability and confidence was a smooth transfer of government, she stressed, adding that she was pleased to note the recent results of co-operation between the British and Chinese Governments.
"But I am confident that, with the commitment of both sides, we will be able to achieve a smooth transition," said Mrs Chan.
End/Friday, July 7, 1995