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ORGANISATIONS SUCH AS THE ASIAN DEVELOPMENT BANK AND, IN
IN OUR APPROACH TO THE NEGOTIATION WE HAVE PARTICULAR, THE GATT. 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.
10.
THE CHINESE GOVERNMENT HAVE MADE IT CLEAR PUBLICLY THAT THEY SEE THE ADMINISTRATION, AFTER 1997, AS BEING IN THE HANDS OF HONG
THIS WOULD FOLLOW A PROCESS OF KONG PEOPLE THEMSELVES.
AND DEVELOPMENT WHICH I AM GLAD TO SAY IS ALREADY UNDER WAY,
DURING THE YEARS IMMEDIATELY WHICH I EXPECT TO EVOLVE FURTHER.
AHEAD, THE GOVERNMENT OF HONG KONG WILL BE DEVELOPED ON INCREASINGLY REPRESENTATIVE LINES.
11. HER MAJESTY'S GOVERNMENT ARE WORKING FOR AN AGREEMENT IN WHICH ARRANGEMENTS FOR HONG KONG'S CONTINUING PROSPERITY AND STABILITY BASED ON EFFECTIVE AUTONOMY WOULD BE FORMALLY RECORDED. SUCH AN AGREEMENT WOULD BY ITSELF CREATE A LEGAL AND POLITICAL OBLIGATION BINDING THE TWO GOVERNMENTS INVOLVED.
THAT IS A
IT WOULD BE RECOGNISED AS SUCH THE INTERNATIONAL PRESTIGE OF
TOGETHER WITH THE CLEAR COMMON
STRONG GUARANTEE OF OBSERVANCE. BY THE INTERNATIONAL COMMUNITY. BOTH COUNTRIES WOULD BE AT STAKE. INTEREST THAT HONG KONG SHOULD CONTINUE TO FLOURISH, THERE WOULD BE A POWERFUL INCENTIVE TO MAINTAIN THE AGREEMENT.
THESE
I AM
12. THE HOUSE WILL UNDERSTAND WHY I CANNOT ENLARGE ON THE CONTENT OF OUR NEGOTIATIONS WITH THE CHINESE GOVERNMENT. NEGOTIATIONS ARE STILL IN PROGRESS, AND THE CONFIDENTIALITY ON WHICH BOTH SIDES ARE AGREED IS IMPORTANT FOR THEIR SUCCESS. VERY MUCH AWARE OF THE PROBLEMS AND ANXIETIES FOR THE PEOPLE OF HONG KONG, AND ALSO OF THE FRUSTRATIONS FOR MEMBERS OF THIS HOUSE, WHICH ARISE FROM THE CONFIDENTIALITY OF THE NEGOTIATIONS. I GREATLY APPRECIATE THE PATIENCE WHICH HAS BEEN SHOWN. THAT WHAT I WAS ABLE TO SAY IN MY STATEMENT IN HONG KONG AND NOW IN THE HOUSE TONIGHT WILL DEMONSTRATE THAT WE ARE DOING ALL WE CAN, WITHIN THE CONSTRAINTS IMPOSED ON US, TO ALLOW DISCUSSION ON
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