- 16.
Hong Kong's economic and social accomplishments would give the new Government of the Special Administrative Region the best possible start in life, he said, estimating that at the time of the handover, Hong Kong should have about $320 billion in its reserves.
Four plenary sessions and many expert group meetings have been held by Joint Liaison Group this year during which agreement or consensus was reached on a number of important issues.
Despite various problems the Group had to face, he said, substantial if sometimes slow progress had been made. These include:
agreement to ensure the continued application of international rights and obligations;
bilateral arrangements with other countries covering matters like air services and investment promotion and protection;
localisation of many of the laws and the validity of a number of major contracts straddling 1997;
establishment of a Court of Final Appeal in Hong Kong and on the continuity of the Judiciary; and
the funding of the airport and on the issue of travel and identity documents.
Mr Patten said there was still a significant amount of work to complete and the time was short.
This includes the transfer of government; legal matters, for instance the conclusion of the localisation of laws programme; immigration issues; and economic issues, for example Air Services Agreements.
However, he said: "With determination and energy on both sides, I am sure we can finish most of this work."
While he would leave Hong Kong after June 30, 1997, Britain would not, said Mr Patten.
"Britain's moral and political commitment to Hong Kong will remain, inscribed in a binding international treaty spanning the next 50 years," he said.
End