CONFIDENTIAL
current policy for the public service, eg requirement for
administrative officers to be British nationals will no longer be appropriate.
47. FUTURE OF ROYAL HONG KONG POLICE FORCE?
Agreement makes clear that officers serving in the RHKP may remain in employment and continue their service in the SAR with pay,
allowances, benefits and conditions of service no less favourable
than before.
SECTION V: FINANCIAL SYSTEM
48. CPG APPROVAL FOR SAR'S BUDGETS AND FINAL ACCOUNTS?
Agreement makes clear that the SAR's budget and final accounts will
be reported to the CPG only for the record.
49. SAFEGUARDS FOR SAR'S REVENUES TO BE USED ONLY FOR SAR?
Agreement provides clearly that the revenues of the SAR will be used only for SAR purposes. Public expenditure must be approved by the legislature of the SAR.
SECTION VI: ECONOMIC SYSTEM AND EXTERNAL ECONOMIC RELATIONS
50.
CONTINUITY OF PRIVATE ENTERPRISE, BUSINESS AND TRADE?
Agreement provides for the continuation of the free enterprise system, free trade policies, and the free port status of Hong Kong. These are some of the essential features of Hong Kong's consistent and successful economic policies.
51. HONG KONG'S STATUS WITHIN GATT, MFA AND OTHER PREFERENTIAL
TRADE ARRANGEMENTS?
Hong Kong plays important role in GATT and MFA. Agreement allows Hong Kong's continued participation in GATT and MFA. Provides also that Hong Kong SAR will have status of a separate customs territory.
52. EFFECT OF THE AGREEMENT ON HONG KONG'S TEXTILE QUOTAS? Hong Kong SAR will be a separate customs territory. Export quotas, tariff preferences and other similar arrangments obtained by the SAR shall be enjoyed exclusively by it.
CONFIDENTIAL
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