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DSR 11C (Revised 5/87)
income from land transactions, after deduction of the
average cost of land reclamation, clearance and other
related costs, is shared equally between the Hong Kong
Government and the future SAR Government. (The Chinese
side of the Land Commission manage their share of the
income in trust, through a Hong Kong SAR Government Land
Fund and an Investment Committee.) Almost HK$10 billion
has so far been credited to the account of the future SAR
Government.
26.
In Confidence
Ministers have taken a close interest in the
implementation of the Joint Declaration. The work of the
JLG and other aspects of implementation have featured
regularly in the Foreign Secretary's talks with his
Chinese counterpart
-
nine
on eight occasions since 1985
in other exchanges at Ministerial level.
-
and
27. A key aspect of the implementation of the Joint
Declaration is the drafting of the Basic Law. That is
dealt with in Section XI of this memorandum.
VIII: Development of representative government in Hong
Kong
28. The system of government in Hong Kong has
evolved in a way which has reflected the particular
circumstances of the territory. In other British
dependent territories our policy has been to promote the
development of democracy as part of the preparations for
eventual independence. There has however never been any
question of Hong Kong becoming an independent state:
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