TNAG-1325-FCO40-1737-Future-of-Hong-Kong-Parliamentary-debates-1984 — Page 203

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We are fully aware of 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 an internationally convertible

currency. That convertibility is indeed a key element

in Hong Kong's prosperity. It must be underpinned by

really effective confidence.

The people of Hong Kong are naturally enough

asking for assurances that continuity and confidence

will be maintained. Neither in Hong Kong nor anywhere

else in today's troubled world can any government give

a cast iron assurance about the future. But certainly

we need to do all we can to meet Hong Kong's concerns.

That underlines the importance of our objective:

a binding international agreement in which arrangements

for Hong Kong's continuing prosperity and stability,

based on a substantial degree of autonomy, would be

formally recorded. We are looking for the clarity

and the detail which is essential to give confidence

to all those affected by the Agreement, in Hong Kong

and elsewhere.