XN000022-1984-07-24 — Page 10

TUESDAY, JULY 24, 1934

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SAFEGUARD OF PROPERTY RIGHTS SOUGHT

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THE HON CHAN YING-LUN EXPRESSED THE HOPE THAT THE SINO-BRITISH AGREEMENT WOULD INCLUDE DETAILED PROVISIONS FOR THE SAFEGUARD OF LOCAL PEOPLE'S RIGHTS OF OWNING PRIVATE PROPERTIES.

HE WAS SPEAKING IN THE ADJOURNMENT DEBATE ON SOCIAL SYSTEM AND THE FUTURE OF HONG KONG+ IN THE LEGISLATIVE COUNCIL TODAY (TUESDAY).

HE OBSERVED THAT APART FROM WORKING TO SATISFY THEIR BASIC NEEDS OF CLOTHING, FOOD, HOUSING AND TRANSPORTATION, HONG KONG PEOPLE ALSO WORKED TO ACCUMULATE WEALTH.

+ THE DRIVE TO ACCUMULATE PERSONAL WEALTH CAN BE TRACED TO A BASIC RIGHT IN HONG KONG OWNERSHIP OF PRIVATE PROPERTIES,+ HE SAID.

+TO ENCOURAGE THE PEOPLE TO OWN PROPERTIES, IT IS ESSENTIAL THAT THE LAW SAFEGUARD THEIR OWNERSHIP OF PRIVATE PROPERTIES.

+KNOWING THAT THE PROPERTIES ARE OWNED BY NO ONE BUT THEMSELVES, THEY WOULD DEVELOP A SENSE OF BELONGING, A FEELING OF CLOSENESS AND SAFENESS AND WOULD DEVOTE THEMSELVES TO WORKING DILIGENTLY IN ORDER TO IMPROVE THEIR LIVING CONDITIONS, HE SAID.

HE SAID IT WAS THE PEOPLE'S EFFORTS IN SEEKING A BETTER LIVING THAT CREATED THE HONG KONG ECONOMIC MIRACLE WHICH ASTONISHED OUTSIDE PEOPLE.

FACED WITH THE 1997 ISSUE, THE HONG KONG PEOPLE WERE +DEEPLY CONCERNED ABOUT THE PRESERVATION OR OTHERWISE OF THEIR OWNERSHIP OF PRIVATE PROPERTIES AFTER 1997, THE PROBLEM OF LAND TENURE AND THE QUESTION OF THE RIGHT OF INHERITANCE, HE SAID.

HE SUGGESTED THAT THE GOVERNMENT +SHOULD ENSURE FUTURE PROSPERITY BY SAFEGUARDING WITHIN POSSIBLE MEANS THE OWNERSHIP OF PROPERTIES AFTER 1997, BECAUSE THE LIMITATION OF TENURE MIGHT SHAKE UP THE CONFIDENCE OF POTENTIAL PROPERTY BUYERS.+

+AT THE SAME TIME, THE RIGHT OF OWNING PRIVATE PROPERTIES OF INVESTORS, ESTATE DEALERS AND SMALL OWNERS SHOULD BE SAFEGUARDED, HE SAID.

+ IF THE PEOPLE ARE CERTAIN THAT THIS RIGHT WOULD BE MAINTAINED AND THAT THE RIGHT OF INHERITANCE TO PROPERTIES WOULD BE PRESERVED, THE IR PLANS FOR THE FUTURE WOULD BE MORE DEFINITE, THEIR GOALS, CLEARER AND THEIR MINDS, MORE AT EASE, THUS HELPING CONSIDERABLY IN BRINGING PEACEFULNESS AND STABILITY TO THE COMMUNITY, HE ADDED.

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