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attracted significant local interest and commentary which, on the whole, reflected community approval of the proposed new classification system. The provision in the Bill which provoked the most controversy was that which seeks to prevent the showing of films likely to damage Hong Kong's relations with other countries
and territories. A revised draft Bill, which incorporated comments received during the consultation period, was published for further public comment in November 1987.
CONCLUSION
73.
Hong Kong has continued to make steady progress during 1987. The economy performed exceptionally well during the year and growth was rapid. Unemployment was at a record low and inflation remained
relatively moderate. Investment in construction and in plant and machinery was high. Steady improvements are being made in education, health and other social programmes and in tackling environmental problems. The Sino-British Joint Liaison Group and the Land Commission are continuing to register practical and solid achievements in a co-operative manner. 1988 will be a significant year for the territory in that decisions will be made on possible further steps to develop its institutions of representative government following the public consultations on the Green Paper
1987.
in
74. Confidence in the future of Hong Kong is being maintained. Internationally there is no doubt of this, reflecting a growing perception of Hong Kong's role as a gateway to China and as an international manufacturing, commercial and financial centre in its. own right. There are a number of signs, as well, which indicate that the local community is, for the most part, retaining its confidence in the future of the territory. Hong Kong businessmen are, for instance, continuing to make very substantial investments in new construction projects, some of which will not pay for themselves until beyond 1997. As in any strong economy, there is some outflow of capital, but this is matched by an equally strong inward flow for investment in Hong Kong. The demand by ordinary people to buy their own houses and apartments is also particularly
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