positive attitude to reasonable proposals.
The Hong Kong
Government will plan its finances so as to leave not less than
HK$ 25 billion in reserves in 1997.
6.
Separately, in accordance with the MOU, the HKG will establish an Airport Authority. HKG have, in addition, set up a Consultative Committee on the airport, also agreed in the MOU.
This is a committee of 50, and includes academics and
businessmen.
7. The MOU has been widely acclaimed both in Hong Kong and internationally as a good and workable agreement. It has
rightly given a major boost to confidence in Hong Kong.
8.
At a meeting in Rio on 12 June 1992 the Prime Minister and
Premier Li Peng agreed that high level talks would be held to
carry forward negotiations on the financing arrangements for the
Airport Authority and the Mass Transit Railway Corporation. These talks took place in Peking, 3-6 July, and although some
progress was made there remained a number of issues to be
resolved with the Chinese. Further meetings of the Airport Committee have recently taken place and the Chinese side is
presently considering new financing proposals put forward by the British side, which build on Chinese suggestions. In an address
to the Legislative Council on 7 October the Governor said
that a delay in completing the airport would be a great
pity for Hong Kong, but equally so for China. On return from
a visit to Peking on 23 October, the Governor said that in
the absence of a comprehensive agreement with the Chinese, the
Hong Kong Government would do what it could to keep work
going on the airport.
British Interests
9.
British and British/Hong Kong companies have been very
new.airport.BACKBRIEF.JRB
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