TNAG-0945-FCO40-1164-Future-of-Hong-Kong-1980 — Page 115

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HONG KONG LAND LEASES IN NEW TERRITORIES

1.

Question of long-term future of Hong Kong difficult.

Meanwhile essential to sustain

Needs careful consideration.

Hong Kong's prosperity and stability.

2.

Short-term concrete problem over granting of individual

land leases in the New Territories.

At present only valid

up to 1997. Need to find way of giving investors property

rights which could continue beyond 1997. Can be done without

affecting Chinese position on Hong Kong.

3.

Short-term problem will become critical in mid-1982.

From then lease periods will become shorter than standard

mortgage in Hong Kong (15 years*).

and legal difficulties for investors.

Increasing technical

4. We should aim at arrangements to deal with this by

end of 1981. Suggest using individual cases to work out

an acceptable system.

6.

Both sides need to consider. We will revert in due course.

*NB

Mortgage :

抵押

(diya)

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