system and free business and financial markets, no exchange control, a free port, a policy of free trade and free movement of goods, intangible assets and capital. Hong Kong is to remain a separate customs territory and, notwithstanding that responsibility for external affairs is vested in the Central People's Government (CPG), the Basic Law will confer on Hong Kong a wide power to conduct external economic, trade, financial and monetary relations. If the only questions were trade and commerce, Hong Kong would have reason to be content with the Basic Law. There were, however, other areas where the proposals for implementing the Joint Declaration were a cause of dispute both between the mainland and Hong Kong and within Hong Kong itself and where the solutions ultimately reached remain a source of disappointment and dissatisfaction within Hong Kong.
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