We have made real efforts to narrow the gap and some progress has been made. But a lot more progress is needed before an agreement will be possible. Given the short time remaining, we are proposing to the Chinese side that negotiations move into a more intensive phase with the aim of finding mutually acceptable solutions to all the outstanding issues.
- Our objectives remain, as always, election arrangements which are open, fair and acceptable to the people of Hong Kong. The test of acceptability is one which the Legislative Council will
have to make at the end of the day.
NEW AIRPORT
All agree that Hong Kong needs a new airport if it is to
remain an important international trade and financial centre.
Hope that agreement on the overall financing arrangements can be reached with the Chinese soon.
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In the meantime, we are maintaining momentum on the airport to avoid expensive slippages and cost increases.
The project represents excellent value for money. Any substantial cost reduction would compromise the scope of the project and would not lead to the construction of the first rate
airport which Hong Kong needs.
ECONOMY
Economic fundamentals in Hong Kong remain very strong. Probably sounder than in any other community in the world. GDP
bullpts.PR.JRB
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