What is the status of land leases granted before the establishment of the Hong Kong Special Administrative Region?

The correct answer is related to the specific date of 30 June 1997, which marks the end of British colonial rule in Hong Kong and the transfer of sovereignty over Hong Kong to the People's Republic of China. Before this transition, land leases were granted under British administrative practices. The Basic Law, which came into effect with the establishment of the Hong Kong Special Administrative Region (HKSAR) on 1 July 1997, provided that land leases, including those granted prior to the HKSAR's establishment, would continue to be recognized and honored under the new governance framework.

In particular, Section 7 of the Basic Law addresses the continuity of laws and land leases that predate the HKSAR. This means that land leases issued up until 30 June 1997 remain valid under the applications of local laws and regulations post-handover. This provision helps ensure stability and confidence among property owners and investors regarding land tenure following the transition to Chinese sovereignty.

The other options do not accurately reflect important dates related to the land lease framework prior to the establishment of the HKSAR. For example, 30 July 1997 is just after the handover, and therefore, leases granted are already under the new legal framework. The other