Formulating a new political system for the governance of our special administrative region is not something that can be rushed. Hong Kong's stability and prosperity in the decades ahead depends on the decisions we make in the next three years.

It is clear, from the series of opinion polls which the Liberal Party has been conducting, that a large proportion of the public shares this view. While the majority wants democratic reform, people tend to be flexible and open-minded about how to achieve it.

That is the sensible approach. It will help to create the right atmosphere for talks, and will encourage everyone directly involved in official consultations to work hard to find a blueprint, with which all citizens can feel comfortable. Admittedly, that is not going to be easy. The economic storms we have weathered since 1997 have made people uneasy and anxious for change, and, naturally, there is a great diversity of views and aspirations.

But regardless of personal aspirations, it is important to be patient, and to keep in mind the principles laid down in the Basic Law. If we remember that changes must come in a gradual and orderly manner, so as to preserve economic prosperity and social stability, we can clearly see the importance of giving this process all the time necessary to reach a satisfactory conclusion. That is the only rational course.

Moreover, reforms have to be made in accordance with practical conditions in Hong Kong. The Liberal Party shares the political aspirations expressed by the public in the two protest marches, on July 1 and January 1, but we are anxious to make progress through harmony and careful deliberation. We do not wish to see action from any quarter which might try to steamroller radical measures on to the agenda, by encouraging people to take part in acts of civil disobedience.

If that were to happen, the outcome would be factional strife and public discord. The unity which has been the hallmark of our city for so many years would be destroyed.

In a fair society, the majority view should always hold sway, but not at the cost of ignoring the voice of minority groups. We believe that retaining the functional constituencies in the legislature and at the same time broadening their bases of representation is the best way to guarantee a balanced representation of the various interests in our society - at least for the near future, until the people of Hong Kong can agree on a better system.

Whatever the final decision, it is vital that the consultation process between Beijing and Hong Kong people is open and transparent, conducted in an atmosphere of goodwill and in a sincere manner.

Talks are off to a good start with the appointment of the taskforce headed by Chief Secretary Donald Tsang Yam-kuen.

The central government must be involved in any review of our political system, because the Basic Law lays down that any amendment to the method for selecting the chief executive or forming the legislature must be reported to the Standing Committee of the National People's Congress for approval and for the record, respectively.

Through the taskforce, Hong Kong people can exchange ideas and thoughts with the central government. Constructive dialogue can help to avoid misunderstandings on the relevant provisions of the Basic Law. At the same time, the Hong Kong government should keep the public informed about possible changes, by presenting options on a constitutional review before the Legco elections in September. That will give voters the time to understand the platform of all candidates before deciding which to support.

Our own polls showed that more than half the respondents favoured direct elections for the chief executive in 2007, but only two-fifths want to see all legislature seats allocated by direct vote by 2008.

Ongoing surveys, however, indicate that the attitude towards both elections tended to change as and when in-depth discussions on the subject increased. The business community is particularly concerned that hasty and major changes to the legislature will undermine our hard-earned economic and social advantage.

No one would wish to see that happen, and it is also obvious from our polls that people want the process to be carried out in a constructive, open and well-intentioned atmosphere, with respect for opposing views, and amid mutual goodwill.

Given those ingredients, there is every reason to hope that the talks will be fruitful and the final arrangements on our political system generally acceptable to all.

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