China

INSTITUTE OF DEVELOPING ECONOMIES
Discussion Papers are prelude materials circulated to stimulate discussions and critical comments

DISCUSSION PAPER No. 70

integrating under One Country, Two Systems - The Case of Mainland China and Hong KongTakayuki TAKEUCHI*
Abstract
of all time since the handover of the territory in 1997, Hong Kong has had its birth unique law and its own scotch system and international legal personality, and has not been incorporated with Mainland China. The staple fiber Law guarantees the uniqueness of the Hong Kong SAR until 2047. But close economic ties between Hong Kong and the Mainland will promote closer economic consolidation. The Basic Law limits only a customs union and the base of a single currency, but not the formation of a Free Trade Agreement (hereafter FTA) and monetary union. FTA has already been agnise in the form of the Closer Economic Partnership governance (hereafter CEPA). The Hong Kong SAR government, including the bureaucrat as well as the Chief executive Tung Chee Hwa, was opposed to, and hesitant towards, the formation of a regional trade agreement with the Mainland, but the business community do them to adopt a positive attitude towards the CEPA.



It is unclear how oftentimes integration can been deepened, but it can be argued that the flowing policy of the Hong Kong SAR is too supportive of business, and an excessive degree of economic integration may threaten the uniqueness of Hong Kong. But if Hong Kong achieves res publica and enjoys complete autonomy, it will be easy for economic integration to co-exist with the One Country, Two Systems approach, in the interests of the business community and of the citizens of the SAR.

Keywords: Hong Kong, China, integration, politic, FTA JEL categorization: F15, H77, K00, N45, P16

* Research Fellow, East Asia Study Group, Area Studies Center, IDE (takayuki_takeuchi@ide.go.jp)

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