(4) Free operation of financial businesses
(a) The Hong Kong dollar, as the legal tender in the
HKSAR, shall continue to circulate:
[Article 111,
Para. 1]
(b) No foreign exchange control policies shall be applied
in the HKSAR. [Article 112, Para. 1]
(c) Markets for foreign exchange, gold, securities, futures and the like shall continue. [Article 112, Para. 1]
(5) Free trade
(a) The HKSAR shall maintain the status of a free
port and shall not impose any tariff unless otherwise prescribed by law. [Article 114]
and
(b) The HKSAR shall pursue the policy of free trade
safeguard the free movement of goods, intangible assets and capital. [Article 115]
Kong, China", organizations
(c) The HKSAR may, using the name "Hong
participate in relevant international and international trade agreements (including preferential trade arrangements), such as the General Agreement on Tariffs and Trade and arrangements regarding international trade in textiles.
[Article 116, Para. 2]
(6) Land leases
(a) All leases of land granted, decided upon or renewed before the establishment of the HKSAR which extend beyond 30 June 1997, and all rights in relation to such leases, shall continue to be recognised and protected under the law of the Region. [Article 120]
(b) As regards all leases of land granted
or renewed
where the original leases contain no right of renewal, during the period from 27 May 1985 to 30 June 1997, which extend beyond 30 June 1997 and expire not later than 30 June 2047, the lessee is not required to pay an additional premium as from 1 July 1997, but an annual rent equivalent to 3 per cent of the rateable value of the property at that date, adjusted in step with any changes in the rateable value thereafter, shall be charged. [Article 121]
(c) Where
leases of land without a right of renewal expire after the establishment of the HKSAR, they shall be dealt with in accordance with laws and policies formulated by the Region on its own. [Article 123]
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