CRS-7
--The new Hong Kong Government will continue to employ the current
force of civil servants. Expatriate civil servants may stay on their
jobs if they wish.
--The Chinese national flag and Hong Kong flag will fly side by side
on Hong Kong soil.
--The Hong Kong dollar will be retained as an international currency.
--Passports for Hong Kong citizens will bear the description of nation-
ality "China-Hong Kong."
---Hong Kong citizens will continue to have the freedom of overseas
travel.
--The present judiciary and legal system will be maintained, but all
legal proceedings will be confined to Hong Kong. There will be no
appeals to the British Privy Council or to China.
--Horse racing will be allowed except that the Royal Hong Kong Jockey
Club will have the word "royal" deleted. All other entertainment estab-
lishments will continue as Hong Kong citizens see fit.
British, Hong Kong Concerns
If implemented smoothly, this stated Chinese policy may lead to a
smooth transition that will not substantially disrupt Hong Kong's social
and economic system. Such an orderly process remains a paramount goal for
the British Government in the current negotiations. Great Britain has only
a modest economic stake in Hong Kong it trails far behind the United
States, China and Japan as Hong Kong's leading trading partners, and it ac-
counts for only a modest share of foreign investment in the territory. More-
over, officials in London have clearly differentiated between the legal status
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