TNAG-1489-FCO40-2046-Hong-Kong-and-the-Asian-Development-Bank-1986 — Page 112

J

[ME2AGJ]

ASIAN DEVELOPMENT BANK: UK GUARAN TEE OF HONG KONG'S OBLIGATIONS

Notes for Supplementaries and Winding up Section C:

General Hong Kong Questions

Agreement

1.

Every reason to believe that the

t

Both HMG and Chinese Government are committed to full

implementation of agreement.

Chinese will honour their commitment.

Economic Situation

2.

Confidence has clearly been re-established following

signature of the Sino-British agreement.

Hang Seng stock market

index recently reached an all-time high and prospects for 1986

appear to be good.

Joint Liaison Group

Second meeting

3.

in

GATT

Sino-British Joint Liaison Group set up

under Joint Declaration took place in Peking from 26-29 November

1985. Continued discussions on Hong Kong's future status

and other international agreements and organisations begun at the

first meeting in London in July 1985. Also discussed and reached

initial agreement on right of abode endorsements in BN (0) passports,

and the issue of new Hong Kong identity cards. Also discussed

recent changes in political

system. Next meeting will be held in

Hong Kong from 11-14 March.

Basic Law

4.

Government.

on the

Law

Drafting of the Basic Law i s a matter for the Chinese

Welcomed decision to include Hong Kong people

Basic Law Drafting Committee (BLDC) and to establish a Basic

Consultative Committee (BLCC) in Hong Kong.

Representative Government

5.

HMG will remain responsible for administration of Hong Kong

up to 1 July 1997. We will exercise that responsibility fully and

of continuing ec on omic prosperity

to LegCo took place in 1985.

prudently in the

stability.

First

interests

election s

and

Next