§ Mr. ByersTo ask the Secretary of State and Commonwealth Affairs what representations have been made to the Government of China concerning the protection of existing business interests in Hong Kong; and if he will make a statement. [28944]
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§ Mr. HanleyWe have on many occasions explained to the Chinese, through the Sino-British joint liaison group and other official channels, the importance of maintaining Hong Kong's economic and social systems, in particular an environment in which business can prosper and flourish. These priorities were enshrined in the Sino-British joint declaration on the question of Hong Kong and the Hong Kong basic law—a Chinese law which will be Hong Kong's constitution after 30 June 1997—which contains important provisions designed to ensure that Hong Kong businesses can continue to operate in a free and open environment. It provides for the economic and social systems in Hong Kong to remain unchanged, for Hong Kong to retain its status as an international financial centre, and for private property, ownership of enterprises, legitimate right of inheritance and foreign investment to be protected by law. The common law ill continue to apply in Hong Kong.