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a flourishing and dynamic society:
and an agreement
in which these arrangements will be formally recorded.
I believe that the British and Chinese Governments
share a desire to see the continuation in Hong Kong of
a society which enjoys its own economic and social
systems and distinct way of life, and which offers a
service to the world as an industrial, commercial and
financial centre. Against that background, it is
possible to foresee a situation in which Hong Kong
would, as part of China, enjoy a high degree of autonomy.
In such a situation, that autonomy would extend to
administration, the making of laws, the maintenance
of Hong Kong's own familiar system of justice, and
responsibility for public order in the territory.
Under such arrangements, the laws of Hong Kong,
including the written and common law, would be based
upon the present system: existing freedoms would be
maintained freedom from arbitrary arrest, freedom
of religion, assembly and speech, freedom of travel,
and freedom of the Press. Hong Kong would manage its
own public finances, within which taxes levied in
Hong Kong would, as now, be employed in Hong Kong for
the benefit of Hong Kong people. And, under such
arrangements, Hong Kong's extensive and direct economic
relationships with the world would continue. Hong Kong
would remain an important participant in regional and
world economic organisations. And there would be a
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