TNAG-1324-FCO40-1736-Future-of-Hong-Kong-Parliamentary-debates-1984 — Page 32

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interest in these objectives. Our approach to the talks has,

therefore, been to examine with the government of China how it might

be possible to arrive at arrangements that would secure for Hong

Kong, after 1997, a high degree of autonomy under Chinese

sovereignty and that would preserve the way of life in Hong Kong,

together the essentials of the present systems.

8. I believe that the Chinese government share the desire of Her

Majesty's government to see the continuation in Hong Kong of a

society which enjoys its own economic and social systems and

distinct way of life. 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 which would last for at least 50

years from 1997.

In such a situation, that autonomy would extend to

administration, the maintenance and making of laws, (including the

common law system) the continuation 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 would be

based upon the present system and existing freedom would be maintained. Hong Kong would manage its own public finances. There would a place for outside people, from Britain and elsewhere, to go on making a contribution to life in Hong Kong.

9.

Given Hong Kong's significance as an international financial

and commercial centre, it would be of particular importance for its prosperity that its present openness to the world should be maintained. Under the arrangements that I have outlined above, I

can visualise that the territory's extensive and direct economic

relationship with the world would continue. It would remain an important participant in regional and world economic organisations such as the Asian Development Bank and, in particular, the GATT. In

our approach to the negotiation we have taken fully into account the crucial importance for Hong Kong's trading activity of its status in the latter organisation and indeed of its ability to manage its international economic relations as a whole. In the same context it is essential to maintain an independent Hong Kong dollar, which would as now, circulate freely as internationally convertible

currency.

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