XN000022-1995-07-12 — Page 19

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Because this partnership has worked so well, Hong Kong has been able to allay much of the inevitable doubt and worry about the change in sovereignty and our ability to maintain Hong Kong's separate systems after 1997. The people of Hong Kong have shown considerable faith in their ability to cope with the challenges of 1997. They have continued to set their sights on the prospects for a better Hong Kong,

better education and career opportunities for their children,

better homes and living standards for their families, and

better public services for all who need them.

The business community has shown its faith in Hong Kong's ability to provide the most attractive business environment in this part of the world, an environment in which honest government and an impartial judiciary are key ingredients. And this confidence has brought its own substantial rewards both before and since 1992.

In particular, we have been able to take the fullest advantage of the Chinese economy's growth, allowing our GDP to increase by 5% a year in real terms.

We have also enjoyed buoyant government revenue, enabling us to improve our social services, invest heavily in the infrastructure, cut taxes and boost our fiscal reserves.

Given this background, the motion now under debate rejects the sort of partnership to which I have referred.

It presents a grossly distorted view of the Administration and its relationship with this Council.

It devalues the efforts, both of the civil service and of Council Members over the last three years to secure our future based on the rule of law.

And finally, it calls into question the very basis of business as well as political confidence in our future.

I must also draw Members' attention to the wider audience which the motion addresses, the audience overseas. In particular,