Joint Declaration
The Sino-British Joint Declaration consist of eight paragraphs, three Annexes about the Basic Policies regarding Hong Kong, the Sino-British Joint Liaison Group and the Land Leases as well as the two Memoranda of the two sides. Each part has the same status, and “The whole makes up a formal international agreement, legally binding in all its parts. An international agreement of this kind is the highest form of commitment between two sovereign states.”[2] Within these declarations the Hong Kong Special Administrative Region shall be directly under the authority of the Central People’s Government of the PRC and shall enjoy a high degree of autonomy except for foreign and defence affairs. It shall be allowed to have executive, legislative and independent judicial power, including that of final adjudication. The Basic Law explains that in addition to Chinese, English may also be used in organs of government and that apart from the national flag and national emblem of the PRC the HKSAR may use a regional flag and emblem of its own. It shall maintain the capitalist economic and trade systems previously practised in Hong Kong. The PRC declared that the basic policies regarding Hong Kong are as follows:
National unity and territorial integrity shall be upheld and a Hong Kong Special Administrative Region (HKSAR) shall be established.
The HKSAR will be directly under the authority of the Central People’s Government of the PRC and will enjoy a high degree of autonomy, except in foreign and defence affairs.
It will vested with executive, legislative and independent judicial power (including that of final adjudication) and the laws currently in force in Hong Kong will remain basically unchanged.
The Government of the HKSAR will be composed of local inhabitants but the chief executive will be appointed by the Central People’s Government and he will nominate the principal officials. Furthermore the legislature of the HKSAR shall be constituted by elections.
Not just the current social and economic system in Hong Kong will remain unchanged, also the life-style and rights and freedoms, including those of the person, of speech, of the press, of assembly, of association, of travel, of movement, of correspondence, of strike, of demonstration of choice of occupation, of academic research and of religious belief, inviolability of the home, the freedom to marry, the right to raise a family freely. Those will be ensured by law as well as the private property, ownership of enterprises, legitimate right of inheritance and foreign investment.
The Hong Kong Special Administration Region will retain the status of a free port and a separate customs territory. It can continue the free trade policy, including free movement of goods and capital.
The HKSAR will retain the status of an international financial centre with free flow of capital and the Hong Kong dollar remaining freely convertible. The HKSAR may authorise designated banks to issue or continue to issue Hong Kong currency under statutory authority.
It will have independent finances with its own budgets and final accounts, but reporting it to the Central People’s Government. Additionally the Central People’s Government will not levy taxes on it.
The HKSAR may establish mutually beneficial economic relations with the United Kingdom and other countries.
The name used for international relations will be ‘Hong Kong, China’. In doing so it may maintain and develop economic and cultural relations and agreements with states, regions and relevant international organisations on its own and it may issue travel documents for Hong Kong. International agreements to which the PRC is not a party but Hong Kong is may remain implemented in the HKSAR.
The government of the HKSAR is responsible for the maintenance of public order. Military forces sent by the Central People’s Government, stationed in HKSAR, for the purpose of defence shall not interfere in the internal affairs in the HKSAR.
Those basic policies will be stipulated in a Basic Law of the Hong Kong Special Administrative Region in the PRC by the National People’s Congress and will remain unchanged for 50 years.