Hong Kong People Should Make Most of Opportunities, Tsang

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Last updated at: (Beijing Time) Sunday, April 14, 2002

Hong Kong People Should Make Most of Opportunities, Tsang

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Face up the challenges of a more open and free mainland market and an increasingly prosperous Pearl River Delta, Hong Kong people should make the most of the opportunities that come with change, a senior official said here Saturday.

"Our strength has always been our ability to adapt to, and profit from change. We have never been a community to sit on our hands. We have always had a great deal of self-confidence and get- up-and-go," the Administrative Secretary Donald Tsang told a local TV program "Hong Kong Letter".

Tsang said that after his visits to Guangdong, he knows that Hong Kong has what it takes to succeed. The development in Guangdong is impressive, but Hong Kong is not standing still. "We really do have a lot going for us," Tsang said.

"But we need to blow away the pessimistic fog that is hanging over the community. And we need to work hard to build on our existing strengths to achieve our goals," he added.

"I must tell you that Hong Kong is not being left behind. In fact, we lead the way in many areas and will continue to do so as long as we play to our strengths," Tsang noted.

In Hong Kong, services account for more than 85 percent of its economic growth, compared with 35 percent in the mainland, and many of the services in Hong Kong are of world class standard, according to Tsang.

"As China continues to open up - and for us that means the Pearl River Delta - they will require a far greater range of professional services that conform to international standards. Management and accounting, law, finance, insurance, marketing, architecture and design and retailing - all of these are areas in which Hong Kong excels and in which the Mainland will need assistance," he said.

Hong Kong has the most international workforce in Asia, not only a large number of international companies, but also a very substantial pool of local workers extremely familiar with international business practices, he explained.

Tsang said that while Hong Kong entrepreneurs and business people will have to search and make the most of these opportunities, the government does have a role to play, that is, to smooth and facilitate these opportunities where possible.

"We will help multi-national firms to use Hong Kong as a springboard to enter the mainland market, and likewise to assist mainland firms to enter the global stage," he stressed.

Speaking of Hong Kong's port and airport, Tsang said what Hong Kong offers is an international route network unmatched anywhere in the mainland, as well as an extremely efficient and reliable system of cargo throughput and tracking, and advanced Customs declaration procedures.

What Hong Kong must do now is to speed up the movement of people, goods and capital across our boundary to maintain a competitive edge, he said.

Tsang said tourism is another area that has benefited from the smoother flow of people across the boundary. "Mainland visitors are now our largest source of tourists, and they have overtaken tourists from foreign countries, even the U.S. tourists, in the spending stakes," he added.

There is no doubt in my mind that the Pearl River Delta will become a more sophisticated and important market, not only in China but on the global stage. "Our greatest challenge now is to harness all of our imagination, skill and flair to hone our existing strengths in areas such as financial services, tourism, logistics and business services," he noted.

"At the same time we must play to these strengths while the government will continue nurturing a much closer relationship with our Pearl River Delta partners. Our strategy is to ensure a smooth flow of people, goods and capital, he concluded.

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