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provides that the ultimate aim is to select the Chief Executive
through universal suffrage. We welcome this. The machinery for the
selection of the first Chief Executive is one of the points we
intend to discuss with the Chinese Government.
Relationship between the Executive and the Legislature
18. The Committee took the view that the Legislative Council should
be sovereign and that the Chief Executive should resign if there is
an irreconcilable conflict (paragraph 3.22). Article 73 (9) of the
Basic Law provides for a procedure whereby the legislature can
impeach the Chief Executive if he or she refuses to resign when
charges of a serious breach of law or dereliction of duty have been
found substantiated by an investigation committee chaired by the
Chief Justice of the Court of Final Appeal. Other provisions of the
Basic Law, while making provision for the accountability of the
Executive to the Legislature (Article 64) establish a separation of
powers between them. Although the Chief Executive may dissolve the
legislature once during each of his terms of office if there is
disagreement between them as to certain Bills (Article 50), he is
required to resign if the same disagreement persists after a new
legislature is elected (Article 52).
BRITISH POLICY AND ACTIONS
British Interests in Hong Kong
19.
The Government welcome the Committee's analysis of British economic interests in Hong Kong (paragraph 4.3). Britain has an enormous stake in terms of trade, investment and jobs in Hong Kong's
continuing success. Britain's visible exports to Hong Kong are
worth more than £l billion a year. In addition, Britain earns over
El billion every year from invisible exports. British exports to
Hong Kong grew by over 10% in the 1980s, compared to growth of only 8.7% for Britain's exports worldwide. Hong Kong is Britain's
largest export market in Asia, after Japan. More than 1000 British
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