TNAG-1843-FCO40-2618-House-of-Commons-Select-Committee-on-Foreign-Affairs-enquiry-1989 — Page 155

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BRIEF F: A LOOK TO THE FUTURE

1. HOW WOULD YOU HOPE HONG KONG WOULD LOOK ECONOMICALLY AND

SOCIALLY IN 1997 AND CIRCA 2007

Joint Declaration and Basic Law of course provide for the continuation of Hong Kong's existing economic and social systems. We believe that these provide the framework for Hong Kong to continue to flourish. But that does not mean that Hong Kong will stand still. The systems must continue to be adaptable, so that adjustments can be made to cope with new social and economic

demands.

Hong Kong has always responded quickly to such demands. am sure that this will continue so that Hong Kong will continue to fulfil an important role as an international trade and financial

centre, as the Pacific Basin economy grows.

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Economic co-operation with China (including two-way investment and manufacturing by Hong Kong concerns in China) is likely to grow further, with major economic benefits for both China and Hong Kong.

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The Hong Kong Government are already embarked upon large scale development projects, the benefits of which will continue to be felt long after 1997:

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the Eastern Harbour crossing

- a second tunnel (at Tate's Cairn) linking Kowloon with the New

Territories.

continuation of existing housing schemes, so as to provide housing for all urban squatters by 1994/5 and adequate accommodation for all Hong Kong residents by the turn of the

century.

the building of the third university (the Hong Kong University of Science and Technology) as part of plans to provide 62,000 places in tertiary institutions by the end of the century.

Beyond the projects already underway, Hong Kong continues to face new and more daunting challenges if it is to continue to be the trading commercial and, financial link between China and the outside. world. Hong Kong will need to develop its infrastructure,

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