TNAG-2756-FCO40-3973-Hong-Kong-Business-Works-Conference--London-address-by-John-1993 — Page 19

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I know that some in the business community would prefer that we did not have

this argument. But it is unavoidable. And the point at issue is a vital one. We

owe it to the people of Hong Kong to hold elections which give them a genuine

choice. A credible legislature, resting on fair and open elections, is crucial to

upholding the rule of law on which so much else depends.

So there is a lot at stake, for all with an interest in the future success of Hong

Kong. The Governor has my full support and that of the British Government

for the proposals he has put forward. We would like to reach agreement with

China on the detailed arrangements. To that end, we have put forward revised

proposals in an effort to find common ground consistent with our position of

principle.

The talks are continuing, although it is no secret that there has been no breakthrough yet, despite our strenuous efforts. Time is now very short. I do not believe - and nor does the Governor - that an agreement is worth any price,

although we will do our best to get one. At the end of the day we won't go

further than the people of Hong Kong want, but nor will we go less far. That is the simple moral and political basis of our position. Ultimately it will be for

the Legislative Council to pass the necessary legislation.

Whether or not it is possible to reach agreement, we will strive to maintain a cooperative relationship with China over Hong Kong. There are still many areas where the two governments need to work together in the interests of turning the concept of "one country, two systems" into a working reality.