HK Plays Role of Dynamo in Pearl River Delta: Official

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Last updated at: (Beijing Time) Saturday, October 12, 2002

HK Plays Role of Dynamo in Pearl River Delta: Official

Hong Kong's role as the dynamo of the Pearl River Delta manufacturing powerhouse was brought home by a senior Hong Kong trade official in Britain Friday.

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Hong Kong's role as the dynamo of the Pearl River Delta manufacturing powerhouse was brought home by a senior Hong Kong trade official in Britain Friday.

At a seminar in Birmingham on the business environment and investment opportunities in the Hong Kong Special Administrative Region (SAR), Director-General of the SAR's Economic and Trade Office in London Andrew Leung emphasized the synergy of Hong Kong and the Pearl River Delta in manufacture investment and exports.

Addressing around 50 top UK business leaders in the region, Leung opened his speech by mapping out the vast market potential of the Chinese mainland.

"The size of the China market will amount to one third of Japan's projected GDP in 2005, and exceed that of Germany by 2010," Leung said, adding that much of the growth is driven by China becoming the "Factory of the World."

Leung noted that China has already overtaken France as the world's fourth manufacturing exporter, accounting for 5 percent ofthe world's manufacturing output, with a 17.5 percent growth even against global economic downturn in the first eight months of the year.

He said the most affluent and fastest growing manufacturing hubin China was located in Guangdong Province's Pearl River Delta, a huge megalopolis with a population of 48 million and a GDP of 88 billion US dollars, similar to the size of Malaysia.

Exports through foreign invested enterprises in Guangdong accounts for 41.5 percent of the whole of China. Much of the investment and drive in the Pearl River Delta comes from Hong Kong,Leung said.

Hong Kong accounts for 70 percent of foreign direct investment in the Pearl River Delta. Over 5 million people are employed by more than 40,000 companies wholly or partly owned by Hong Kong concerns.

"The synergy of Hong Kong and the mainland's manufacturing powerhouse has made the city well poised as a strategic partner for international enterprises to establish a foothold in that vastmarket," he said.

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