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As regards enforcement of arbitral awards, Mr Fung pointed out that after 1997, those who successfully obtained an arbitration award granted in Hong Kong against a People's Republic of China (PRC) company would not be able to enforce it in the PRC under the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
This arose because the Convention did not cover the enforcement within the one sovereign state of awards made in another part of that same state, he explained.
"In order to instil confidence in the rule of law in the Hong Kong SAR after 1997 and to ensure the smooth transition of Hong Kong to Chinese sovereignty in 1997, it is imperative that every effort be made to overcome this problem.
"To that end, the governments of both Hong Kong and China have recognised the urgent need to put in place workable arrangements for legal assistance between the two jurisdictions.
"I am sure that active steps will be pursued by the two governments to address these important issues shortly," he said.
Mr Fung also referred to the recommendations by the Attorney General's Chambers for improvements to legal services in Hong Kong.
He reiterated that Hong Kong could not - neither as a government nor as individuals, whether as legal professionals or as consumers of the system - afford to be complacent about the quality, efficiency and cost-effectiveness of legal services available in this modern and dynamic city.
"Not if we wish Hong Kong to maintain its enviable position in the run-up to 1997 and well beyond that date as the leading centre for legal services and dispute resolution in East Asia and the Western Pacific Basin," he said.
"One thing is crystal clear," he added, "no new arguments have emerged whether from the legal profession or, indeed, from any quarter. The debate on these issues has been simmering, in some cases, for several years. Everyone has had more than ample opportunity to make his or her views known."
"There is clear public support for most of the recommendations we have made and the government would stand rightly accused of shirking its moral responsibility owed to the community if it should fail to take them forward," he said.
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