Article Abstract:
Many Hong Kong business analysts expressed concern that China may curb free speech once it takes over the colony on Jul. 1, 1997. Particularly, many observers fear that access to reliable financial reports may be hindered as part of China's crackdown on free speech. Such fears were heightened when China's foreign minister discussed some aspects of free speech restrictions in a recent interview and the proliferation of reports that a Western securities researcher was detained for allegedly disseminating restricted information about future foreign exchange policies.
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Article Abstract:
The Hong Kong government unveiled a package of measures consisting of tax breaks and new investments in its budget with the aim of improving its long-term competitiveness. Among the contents of the budget are the planned privatization of the Mass Transit Railway Corp, the merging of the Hong Kong Stock Exchange and the Hong Kong Futures Exchange and a proposed cyberport for high-technology firms. Tax rebates will also be mailed to 1.5 million taxpayers as part of Hong Kong's HK$10.9 billion one-time tax cuts.
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Article Abstract:
Tung Chee Hwa, Hong Kong's future governor after Chinese takeover, vowed to conduct legislative elections by early 1998. He assured the Hong Kong government that the planned provisional legislature will exercise powers only for a year. Tung seeks to establish fair business competition and to preserve civil service integrity. Tung further assured that China will grant Hong Kong a high degree of autonomy as embodied in its Basic Law.
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