Some political analysts thought there was an urgent need to reach an agreement because there were fears that Hong Kong`s economy would collapse without a treaty in the 1980s. Concerns about land ownership in the new leased territories have also contributed to the problem. Although discussions about Hong Kong`s future began in the late 1970s, the final date of the joint declaration was influenced more by factors of ownership and economy than by geopolitical necessities.  In March 1979, the Governor of Hong Kong, Murray MacLehose, made his first official visit to the People`s Republic of China (VRC) and took the initiative to pose deng Xiaoping on the issue of Hong Kong`s sovereignty.  In the absence of clarification and definition of the official position of the Government of the PRC, the intermediation of real estate leases and credit agreements in Hong Kong would be difficult over the next 18 years.  This group was a liaison body and not a power of staff to which each party could send up to 20 support staff. It should meet at least once a year at each of the three sites (Beijing, London and Hong Kong). From 1 July 1988, it had its headquarters in Hong Kong. It should also assist the HKSARs in maintaining and developing economic and cultural relations and conclude agreements on these issues with the States, regions and international organizations concerned, and could therefore establish specialized sub-groups. Between 1985 and 2000, the Joint Liaison Group held 47 plenary sessions, including 18 in Hong Kong, 15 in London and 14 in Beijing. On December 19, 1984, after years of negotiations, the British and Chinese leaders signed a formal pact authorizing the colony`s turnover in 1997 in exchange for the formulation of a “One Country, Two Systems” policy by the Chinese Communist government. Prime Minister Margaret Thatcher called the agreement “a milestone in the life of the territory, in Anglo-Chinese relations and in the history of international diplomacy.” Hu Yaobang, the general secretary of the Communist Party of China, called the signing a “day of red letters, an opportunity of great joy” for the billion Chinese. The Sino-British joint statement itself does not have a mechanism approved by both sides to ensure compliance.
Although the Agreement is registered with the United Nations, it did not contain any monitoring mechanism by the United Nations. Therefore, only the signatories of the declaration have the right to assert possible violations of the conditions. Hong Kong`s autonomy was guaranteed by the “One Country, Two Systems” agreement, enshrined in the 1984 Sino-British Joint Declaration signed by Zhao Ziyang, then Chinese Prime Minister, and British Prime Minister Margaret Thatcher. It was precisely at the moment when the atmosphere of the talks became cordial that members of hong Kong`s Legislative Council felt impatient for the long-standing secrecy on the progress of the Sino-British talks on the Hong Kong issue. . . .