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Hong Kong Aims Higher in Next Decade

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Hong Kong Aims Higher in Next Decade HONG KONG ECONOMIC & TRADE OFFICE • SINGAPORE No. 2/2007 ISSUE • MICA (P) 126/10/2006 Hong Kong aims higher in next decade THIS year, Hong Kong Government will imple- celebrates the 10th anni- ment policies to facilitate versary of its reunification Hong Kong’s economic with the motherland, and development, and July 1 marked the begin- improve cooperation ning of Hong Kong’s next mechanisms with Hong decade of development as Kong. a Special Administrative “As long as the Hong Region. On the day, Kong Government and the inauguration cer- people work in partner- emony of the third ship, give full play their term Hong Kong Special strengths, enhance eco- Administrative Region nomic cooperation with (HKSAR) Government was ����� the Mainland, and adapt held. President Hu Jintao, to accelerated economic who was in Hong Kong globalisation, they can for this special occasion, ensure Hong Kong’s sus- swore in Donald Tsang, tained and steady eco- the Chief Executive, and President Hu (right) swears in the Principal Officials of the third term nomic growth,” President the Principal Officials. HKSAR Government, with CE Donald Tsang looking on. Hu said. President Hu said the President Hu also Central Government hopes Hong Kong and the Hong Kong pointed out that Hong Kong has remained a free port and an people have a better future. In concluding the past 10 years’ international financial, trade and shipping centre during the past experiences, President Hu said it is important to fully implement decade, and has been consistently rated as the most open and the “One Country, Two Systems” policy and strictly comply with freest economy and one of the most dynamic regions with the the Basic Law. best business environment in the world. At the inauguration ceremony, the Chief Executive said: Focus on economic development “The Government will promote a new mode of economic President Hu also said that Hong Kong should concentrate on development: The financial sector will be expanded and developing the economy and improving people’s livelihood, so investment in infrastructure will be increased to drive wage that the community can remain stable and a democratic system increases and create more job opportunities for grassroots that is suitable for Hong Kong can be developed. The Central workers”. ◆ Shenzhen Bay Port and Bridge open THE opening of Shenzhen Bay Port marked the success of the “One Country, Two Systems” policy, and the implementation of immigration co-location realised the policy’s flexibility and creativity, Donald Tsang, the Chief Executive said. Speaking at the Shenzhen Bay Port and Shenzhen Bay Bridge opening ceremony on July 1, Mr Tsang said the facilities were the fruitful results of close co- operation between Hong Kong and Shenzhen in the past five years. Tang Jiaxuan, State Councillor said at the ceremony that the port and bridge would greatly improve the cross-boundary traffic between Hong Kong, Shenzhen and the Pearl River Delta Region, strengthening Hong Kong’s ties with the Mainland. President Hu shakes hands with a girl after President Hu Jintao officially opened the port and bridge, as his car drove through officiating at the opening of the Shenzhen a ribbon at the boundary line dividing Hong Kong and Shenzhen. He then left Hong Bay Port and Bridge. Kong, concluding his three-day visit to the city. ◆ 2 HKSAR 10th anniversary celebrations in ASEAN song “Just Because You Are Here”, and “Challenge Met”. They noted the importance of Hong Kong as a strategic gateway to Mainland China as they viewed the display panels of the HKSAR 10th anniversary special exhibition. Business forum drew Malaysian and Indonesian participants To sustain the efforts to raise the profile of the HKSAR for the 10th anniversary occasion, the HKETO also partnered the Singapore Chinese Chamber of Commerce and Industry to organise a business forum named “Singapore and Hong Kong: Building Economic Synergies” on July 31 in Singapore. Mr Lam said the current 11th Five-Year Plan of China stated clearly that China would continue to support the development of Hong Kong as an international hub of financial services, logistics, trade and tourism. He looked forward to identifying more opportunities and HKETO Director K K Lam (third left) picture with the Chinese platforms for Singapore and Hong Kong to collaborate and Ambassador Madam Zhang Xiaokang (fourth right), the Chair achieve win-win. Moderator Professor Wang Gungwu (third right), Vice President Under the chairmanship of Professor Wang Gungwu of the of the Singapore Chinese Chamber of Commerce and Industry East Asian Institute in Singapore, four speakers from Hong Kong Patrick Lee (fourth left) and speakers at the business forum. and Singapore shared their insights at the forum. They were Professor Yeung Yue Man, Director, Hong Kong Institute of Asia-Pacific Studies, the Chinese University of BEGINNING June, the HKETO Hong Kong; Professor Michael launched a series of activities to Enright, Sun Hung Kai Properties mark the HKSAR 10th anniversary. Professor, School of Business, the All of these events received University of Hong Kong; Richard enthusiastic response and helped Eu, Chief Executive Officer of the to promote the Hong Kong spirit. Eu Yan Sang Group in Singapore; Celebrations in the ASEAN and Simon Galpin, Associate were kicked off with the stage Director-General of Investment of a Hong Kong Pavilion in Kuala Promotion at Invest Hong Kong. Lumpur, Malaysia from June 22 The forum drew more than to 24. The Hong Kong Tourism 200 participants with some from Board (HKTB) and Hong Kong Malaysia and Indonesia. tourist attraction operators were On the cultural side, a Hong co-organisers of this pavilion. Kong Film Festival will be launched “We are pleased to stage our in Singapore from September 18 special exhibition of the 10th anniversary Guests look at the display panels of the to 23 to showcase 10 Hong Kong within this Hong Kong Pavilion at the HKSAR 10th anniversary exhibition at the productions in the last decade and to Putra World Trade Centre to highlight, celebration reception in Singapore. introduce a diverse spectrum of Hong among other themes, the successful Kong movies. ◆ implementation of the ‘One Country, Two Systems’, and our developments in economy, business, infrastructure, sports and culture. Hong Kong indeed has much to celebrate, as illustrated in this exhibition,” K K Lam, Director of the HKETO said. The three-day event in Kuala Lumpur attracted about 50,000 visitors from all walks of life. Dignitaries graced reception in Singapore In Singapore, more than 300 leaders from the Government, diplomatic, finance, business and academic sectors as well as media representatives joined the toast in celebration of the HKSAR 10th anniversary at a cocktail reception organised by the HKETO on June 28. Dignitaries included Madam Zhang Xiaokang, Chinese Ambassador in Singapore, and Dr Balaji Sadasivan, Senior Minister of State (Foreign Affairs), Singapore. The highlight of the evening was a performance by seven students from the Hong Kong Academy for Performing Arts. The dizi performance, soprano solo and modern dance staged by the students won great applause of the guests. HKETO Director K K Lam (right), Hong Kong actress and singer The guests were also impressed with the achievements of the Karen Mok, and HKTB Regional Director David Leung officiate at HKSAR through watching the videos of the 10th anniversary theme the opening ceremony of the Hong Kong Pavilion in Kuala Lumpur. 3 Hong Kong focusing on Islamic finance JOHN C TSANG, the Financial Secretary Minister to discuss co-operation between stopped over at Kuala Lumpur on August Hong Kong and Malaysia in financial and 6 on his way back to Hong Kong after monetary matters. attending the 14th Finance Ministers’ Mr Tsang also had a discussion with Ms Meeting of the Asia-Pacific Economic Co- Irene Dorner, the Chief Executive Officer operation (APEC) in Coolum, Australia, of HSBC Bank Malaysia Berhad to learn and his side trips to Brisbane and Sydney. the latest developments of the banking The main purpose of his visit to Malaysia sector in Malaysia. was to learn more about the development During a luncheon gathering with of Islamic finance in the country. top leaders of major banks and financial Mr Tsang said that among Muslim investment entities including Tun countries, Malaysia was generally considered Mohamed Dzaiddin, Chairman of Bursa to have the most sophisticated market Malaysia, Mr Tsang exchanged with them structure, as well as legal and regulatory issues on global and regional financial regimes, for Islamic finance. “My trip serves On his first official visit to Malaysia development. as a valuable source of information and as the Financial Secretary, Mr Tsang met Other major organisations visited by experience as we formulate our strategy Senator Tan Sri Nor Mohamed Yakcop, the the Financial Secretary included Khazanah to promote and develop Islamic finance in Minister of Finance II (see picture), and Nasional Berhad, Bank Islam Malaysia Hong Kong,” he said. Dato’ Dr Ng Yen Yen, Deputy Finance Berhad and Bank Negara Malaysia. ◆ Talks to share Hong Kong’s investment climate MIKE ROWSE, Director-General of Investment Promotion implemented the “One Country, Two Systems” principle, at Invest Hong Kong conducted an official visit to Singapore Hong Kong played an even more special and unique role in on August 31 and September 1. Apart from having a busy the sustained development of China as the HKSAR celebrated schedule of conducting calls on investment promotion, Mr the 10th anniversary of its return to the country. Rowse also gave a luncheon talk for members of the Singapore Mr Rowse also conducted a dinner dialogue with members International Chamber of Commerce and interlocutors of the of the Singapore Institute of International Affairs (SIIA), the HKETO. country’s oldest think-tank.
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