HKSAR Needs Greater Determination and Action on Economic Integration

Home>>China

Last updated at: (Beijing Time) Friday, October 04, 2002

HKSAR Needs Greater Determination and Action on Economic Integration

DISCUSSION

CHINESE

SEND TO FRIEND

Greater determination, strategic thinking and concrete action will be needed to propel Hong Kong' economic growth and tapping the growth potential on the Chinese mainland, Lau Pui King, the associate head of Business Studies of Hong Kong Polytechnic University told Xinhua Thursday afternoon.

A similar message was conveyed in the recent National Day speech of the Hong Kong Special Administrative Region (HKSAR) Chief Executive Tung Chee Hwa. He said with China increasingly gaining importance in the world stage in both political and economic terms, exchange between Hong Kong and the Chinese mainland should continue to intensify.

"Government leaders, politicians and scholars have all made various predictions about our country's development in this new century. And although the details may vary, one thing they all have in common is the emergence of China as a political and economic power on the world stage," he said.

Lau, who is also a Hong Kong delegate to the National People's Congress, remarked that more concrete actions and strategic thinking are now needed to translate rhetoric and paperwork into action.

She said issues that need to be solved urgently include the 24-hour border-crossing issue and HKSAR's infrastructural connectivity with the mainland.

"Guangdong province always has plans for 10-year or 20-year periods. And almost all the infrastructural development details have come out already. The HKSAR government tends to think in terms of project items, like a certain road project or a project, rather than as a strategy," she said.

Even reputable economic magazines, such as Forbes and the Economist recently also advised that Hong Kong should foster closer links with the Chinese mainland, saying that such is the way for Hong Kong to sustain its economic development.

Steve Forbes, chief executive officer and president of the Forbes, particularly pointed out that HKSAR has an important role to play for the time to come in the economy Pearl River Delta, remarking that so long as Hong Kong reforms its education and improves its infrastructure, it will have a bright future ahead.

Hong Kong, as a financial center, is a good fund-raising centerfor Chinese mainland businesses, Lau said.

But she said not only should businesses on the mainland be allowed to list in Hong Kong, but given Hong Kong's understanding of the international market, Hong Kong can function to actively seek to contact international market on behalf of such businesses.

"I think A share companies should be allowed to set up offices in Hong Kong and to conduct international business. Chinese mainland companies should go beyond their domestic market. For them, to make connection with the international market, Hong Kong is the best place for them to start with in terms of borrowing funds, obtaining marketing information and gaining access to various commercial services," she said.

Source: Xinhua News Agency

Questions?Comments? Click here

Jiang Urges Army to Prepare for Military, Anti-Terror Struggles ( 34 Messages)

'Taiwan Independence': Greatest Threat to Taiwan Straits Peace ( 41 Messages)

China Continues to Absorb Foreign Investment ( 2 Messages)

China Becomes Biggest Market for English Learning ( 2 Messages)

US Urged to Stop Activities in Chinese EEZ ( 7 Messages)

Two Chinese Students Shot Dead When Robbing a Malaysian Bank ( 5 Messages)