Chief Executive: HK to Speed up Economic Recovery

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Last updated at: (Beijing Time) Tuesday, July 01, 2003

Chief Executive: HK to Speed up Economic Recovery

Hong Kong Special Administrative Region (SAR) Chief Executive Tung Chee Hwa pledged to speed up economic recovery and early realization of economic restructuring.

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Hong Kong Special Administrative Region (SAR) Chief Executive Tung Chee Hwa pledged to speed up economic recovery and early realization of economic restructuring.

Making remarks at a reception for marking the 6th anniversary of Hong Kong's return to the motherland, Tung said implementing "one country, two systems" and sustaining the social and economic growth of Hong Kong is a solemn pledge of his administration to the 6.8 million Hong Kong people.

He said, based on global economic trends and the experience over the past six years, Hong Kong's positioning, direction and goal in economic restructuring are clear: a highly developed knowledge-based society with the Chinese mainland as its hinterland and a global outlook.

Tung said that Hong Kong is now taking all necessary steps to reinforce and upgrade its position as a leading international financial and logistics center, a preferred tourist destination and a trade-related services hub in the Asia Pacific region, adding this is Hong Kong's medium-to-long term goal.

He said to achieve it, Hong Kong must further enhance local value-added services; develop innovation, brands and high-tech manufacturing industries to best shape the future of Hong Kong.

Tung said the Mainland/Hong Kong Closer Economic Partnership Arrangement signed on June 29 offers Hong Kong a solid platform from which to launch itself in this direction.

He added that Hong Kong will vigorously foster closer economic ties with the mainland, in particular the Pearl River Delta region,and strengthen HK's already excellent global business network.

Chinese Premier Wen Jiabao attended the reception and delivereda speech.

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