ENG-1986 — Page 62

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明合中

Implementation of

The Sino-British Joint Declaration

貫商機

Bape D

策

FOLLOWING two years of negotiations, the Sino-British Joint Declaration on the Question of Hong Kong was signed by the British and Chinese governments on December 19, 1984. As a result, the Hong Kong Act 1985, passed by the British Parliament to provide for the ending of British sovereignty and jurisdiction over Hong Kong, received the Royal Assent on April 4, 1985. The Joint Declaration entered into force on May 27, 1985, when instruments of ratification were exchanged in Peking between the two governments. It was then registered at the United Nations by the two governments, simultaneously, on June 12. Briefly, the Joint Declaration and its Annexes provide that Hong Kong will, with effect from July 1, 1997, become a Special Administrative Region (SAR) of the People's Republic of China. The SAR will have its own government and legislature composed of local inhabitants, and will enjoy a high degree of autonomy. However, the Central People's Government will be responsible for Hong Kong's foreign and defence affairs. Hong Kong's social and economic systems, as well as its lifestyle, will remain unchanged for 50 years after 1997, and China's socialist system and policies will not be practised in the SAR.

Following the ratification of the Joint Declaration, steps were immediately taken by the British and Chinese governments to implement its provisions, the object being that the transition of present day Hong Kong to a Special Administrative Region of China should be smooth and co-ordinated, causing as little disruption as possible to the social, business and administrative environment in Hong Kong. The most important steps taken were the formation of the Sino-British Land Commission and the Joint Liaison Group.

Land Commission

The Sino-British Land Commission was established in 1985 in accordance with Annex III to the Joint Declaration. Its function is to conduct consultations on land leases and other related matters. The commission is composed of three senior officials on each side. It meets regularly in Hong Kong and has had 10 formal meetings up to the end of 1986.

Despite its short history, the commission has made solid progress. It has reached agreement on a series of legal documents to be used in various types of land transaction covered by the provisions of Annex III, and the arrangements for the sharing of premium income from land transactions. The commission has also agreed on the annual land disposal programme for 1985 and 1986. In August 1986, the Chinese side of the Land Commission set up an Investment Committee made up of eminent local bankers and monetary experts to administer the investment of funds from premium income due to the future Special Administrative Region. The amount of premium income credited to the Special Administrative Region's account came to $1,615 million at the end of 1986.

The Land Commission will continue to meet regularly until July 1, 1997.