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Remember the predictions, the forecasts of calamity, that we used to hear about Hong Kong in the last years of transition? The fact that those forecasts haven't come true is the result of many factors. But at least one of them is that Hong Kong has been well governed, carefully governed. Success isn't simply an accident. You've worked for it; the Government has worked for it. We intend to go on working for it.

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Second, back in 1992 and this was something that many people including Lee Kuan Yew encouraged me to do back on those days I set out a five year agenda for Hong Kong. It's interesting to look back at the newspaper headlines from then. It was seen as a pretty bold programme, and some doubted how much of it we could achieve.

Much of it is now completed. And we do something which is unusual if not unique for modern governments. Every year we set out for you a clear record of what we've done against what we promised. What it shows is where we've fallen behind, and we naturally get criticised for that. But I hope that some people will also give us the credit for being honest.

My second task will be to try to complete successfully that 5 year agenda of change and renewal. Programmes for the elderly. For the disabled. For our school children, students and teachers. For the needy. For those at the frontiers of our commercial efforts.

A great deal has been achieved, but some things remain to be done.

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For instance and this is our third main task we have to complete our programme of legislation to ensure that all our laws are in line with the international covenants and the Bill of Rights. There are some people who ask why bother, if China's advisers are urging them to reverse all that you and LegCo do? There's a simple answer to that. I intend to see that we do all that we promised to do before 1st July 1997 to live up to the promises made to Hong Kong in the Joint Declaration. If others afterwards resile from their promises and obligations, than that's for them to explain. For our part, we'll keep our word even if keeping our word is thought by some to be disgracefully provocative.

Fourth, we've still got quite a few important bits of work to do in the Joint Liaison Group. The much maligned JLG has actually got through much more work than it's been given credit for. But we're not yet at the end of the road, and time is running out. We shall also, as part of the work of managing the transition, wish to establish as good a co-operative relationship as possible with the Chief Executive- Designate and his or her team. That shouldn't be too difficult. After all, the likelihood is that most of those who are running Hong Kong today will be running Hong Kong tomorrow. And while there will obviously be some changes in policy, reflecting perhaps different perspectives and priorities, Hong Kong's social and economic record doesn't suggest that a complete overhaul of everything we do is required. There isn't too much wrong with Hong Kong today. Maybe the best analogy is that the car will need a good service rather than to be traded in for a completely different model.

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