FILE
10
IPU CONFERENCE, GUATEMALA CITY 1988
HKB 040/4
BRIEF NO
: HONG KONG
1. A general background brief on Hong Kong is attached.
The Agreement
2.
The Sino-British Joint Declaration on the future of Hong Kong
was signed by the British Prime Minister and the Chinese Premier Zhao Ziyang on 19 December 1984 in Peking. It marked the outcome of two years of intensive negotiations between Britain and China which had as their agreed common aim the maintenance of Hong Kong's stability and prosperity. The agreement was ratified on 27 May 1985 in Peking and entered into force on that date. Both Britain and China registered the agreement at the United Nations.
3. The agreement is a formal and binding one. Both Britain and China are fully committed to the implementation of the agreement, which provides the best possible basis for the continuation of Hong Kong's stability and prosperity up to and after 1997, when Hong Kong will become a Special Administrative Region of China. As such it will enjoy considerable autonomy.
The Economy
4. The economy is buoyant; GDP growth in 1987 was 13% and the outlook for 1988 remains good. The Hong Kong Government has predicted a growth in GDP of 5% for this year combined with low unemployment, a growth in total exports of 9% and an inflation rate of approximately 7%.
Joint Liaison Group
5. In accordance with Annex II to the Joint Declaration, a
Sino-British Joint Liaison Group (JLG) has been established to continue the process of liaison and consultation between Britain and
China until the year 2000. It meets at least three times a year,
once each in Peking, London and Hong Kong.
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Private notes are available after approval.