Tung Reiterates Hong Kong's Fundamental Strengths

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Last updated at: (Beijing Time) Saturday, January 11, 2003

Tung Reiterates Hong Kong's Fundamental Strengths

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Tung Chee Hwa, chief executive of the Hong Kong Special Administrative Region (SAR), reiterated Friday that Hong Kong has not lost its fundamental strengths, despite the dramatic changes in its external environment.

Tung made the remarks at a Hong Kong business community luncheon Friday, explaining his policy address to local business people.

"As the most cosmopolitan and modernized city of China, the world's Number One growth economy, we enjoy a strong and unique halo effect," Tung said.

"We are also the most important international financial, logistics, tourism and business support service center in the Asia-Pacific region," he said. "In short, we are still what we are -- the Pearl of the Orient!"

Tung urged Hong Kong people not to overlook their opportunities.

China is widely recognized as having one of the world's most dynamic economies with great potential. The mainland's rapid economic development, plus its further opening up, will provide historic, unprecedented opportunities for Hong Kong, he noted.

"I have spoken extensively on the need for Hong Kong people to remember our own strengths and advantages, the need to understand the times, discern mainland and global trends and opportunities, and to prepare ourselves in different ways to adapt to the changing circumstances," the chief executive said.

"While all of us are working hard to adapt to and facilitate the structural changes going on around us, external developments seem to be giving us a lift," he added.

Tung expressed his confidence that Hong Kong will successfully ride out from the doldrums and restructure the economy, with full confidence in its advantages, the hard efforts of all the people of Hong Kong, and the blessings and encouragement from the CentralPeople's Government.

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