HK's Economic Success Relies on Cooperation with Mainland

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Last updated at: (Beijing Time) Monday, June 24, 2002

HK's Economic Success Relies on Cooperation with Mainland

The economic expansion of Hong Kong could not be achieved without cooperation with the mainland, Chan Wing-kee, president of the Chinese Manufacturers' Association of Hong Kong told Xinhua in a recent interview.

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The economic expansion of Hong Kong could not be achieved without cooperation with the mainland, said Chan Wing-kee, president of the Chinese Manufacturers' Association of Hong Kong.

Confronted with the globalization of the world economy, Hong Kong and the mainland are in greater need of closer economic ties for the common prosperity of both economies, Chan was quoted as saying by China's Xinhua News Agency.

Born in Hong Kong, Chan is a well-known entrepreneur both in Hong Kong and the mainland. After graduating from the Purdue University in the United States, he came back to Hong Kong and started his family business -- Yangtzekiang Garment MFG. Co. Ltd.

Recalling Hong Kong's economy over the past years, Chan attributed Hong Kong's success to the reform and opening up in the mainland.

Many Hong Kong manufacturers set up factories in the mainland, helping the country to develop the economy and at the same time expanding their own productivity. They brought what they earned back to Hong Kong and promoted the development of the service industry in Hong Kong, Chan told Xinhua.

Reform in mainland gives Chan good opportunity

As early as in 1979 when the reform and opening up just started, Chan took notice of the advantages of textile industry in Jiangsu Province, east China, and forged partnership with local factories to produce spindles.

The joint venture has since grown up to top five spindle manufacturers in China, with an annual output of 200,000 spindles.

In response to the government strategy of developing the central and western China, Chan started to invest in Qinghai eight years ago, becoming the first Hong Kong investor in this northwestern Chinese province. His investment in an electrolytic aluminium spindle factory has made profits.

Chan said revitalizing Hong Kong's economy relies on the opening up of the mainland and investing in the mainland requires making use of resources of each provinces, not merely the labor intensive industries.

However, Chan also expects more mainland enterprises, especially private sectors, to invest in Hong Kong, to develop the service industry of Hong Kong and create more jobs for the ordinary Hong Kong people.

As the president of the Chinese Manufacturers' Association of Hong Kong, Chan Wing-kee has worked hard to serve local manufacturers and help them invest in the mainland, Xinhua said.

Chan hopes mainland enterprises to invest in HK

Chan has been to Beijing and Guangzhou several times to call on Ministry of Foreign Trade and Economic Cooperation, Ministry of Labor and Guangdong Provincial Government for the interests of the Hong Kong investors.

On the other hand, the Chinese Manufacturers' Association is also active to help the industrial development in the mainland.

Whenever a mainland province or a city hosts trade fair in Hong Kong to draw foreign investment, the Association is ready to offer great support.

The association has also organized delegations to the mainland to seek business opportunities, leading to more investment by Hong Kong manufacturers in the mainland in recent years.

Chan said he is quite content with that he can contribute to the country.

Chan has served as a Hong Kong deputy to the National People's Congress for two terms and he is now also a member of the Selection Committee of the Hong Kong Special Administrative Region(SAR).

He used to be advisor of Hong Kong Affairs and member of the Preparatory Committee of the Hong Kong SAR.

Chan said Hong Kong has maintained the rule of law and the Basic Law has been implemented in Hong Kong very well. The SAR government run Hong Kong in accordance with the law, safeguarding the authority of the Basic Law and making the "one country, two systems" a great success.

On the future development of Hong Kong, Chan said Hong Kong will benefit from the integration with the neighboring Pearl River Delta region. The big "triangle" he said, centers on cities of Guangzhou, Hong Kong, Shenzhen, Macao and Zhuhai and spreads to a great extent in Guangdong Province and Guangxi Zhuang Autonomous Region.

"Hong Kong must make full use of its advantages to help the economic development of the country and to make itself more prosperous," Xinhua quoted him as saying.

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