Pearl River Delta to Grow in Economic Importance: Magazine

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Last updated at: (Beijing Time) Wednesday, April 02, 2003

Pearl River Delta to Grow in Economic Importance: Magazine

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A Hong Kong Special Administration Region (HKSAR)-based fund investment magazine Benchmark has run articles in its latest issue, highlighting the growing economic importance of the Pearl River Delta (PRD).

Headlined "PRD: the latest buzz," the article stressed that the news surrounding the closer economic integration between the HKSAR and PRD may be new, but the PRD itself has been the economic powerhouse of China for the last two decades, registering China's high growth rates.

It said PRD is and will be an economic powerhouse that drives the development of the HKSAR.

"The issues going forward are complex, but how development of the PRD plays out will have great implications for the people of Hong Kong," it said.

Commenting on the economic integration, HSBC's Chief Economist for China George Leung said the PRD has definitely helped Hong Kong for many years already, and without the relocation of Hong Kong factories to the PRD, it would not have been possible to see Hong Kong's service sector expand the way it has.

Po Chung, chairman of the Hong Kong Pearl River Delta Foundation (HKPRDF), said, with professional, legal, financial and accounting services and entrepreneurial ethics, Hong Kong's positioning as the business hub "should address a lot of the psychological problems" and solve the "uncertainties about the future of the HKSAR."

Saimond Ip, executive director of the HKPRDF, added that Hong Kong should no longer just be a gateway that provides intermediate services, but instead should attract companies from around the world and from the PRD region as well to live and operate businesses here.

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