British PM Blair Sees a 'Bouncing Back' Hong Kong

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Last updated at: (Beijing Time) Thursday, July 24, 2003

British PM Blair Sees a 'Bouncing Back' Hong Kong

British Prime Minister Tony Blair said Wednesday that Hong Kong has a difficult year but "I can see for myself how you are bouncing back." It is vital for Hong Kong to continue its advances as set out in the Basic Law, and to maintain the stability which is "the ultimate bedrock of its success."

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British Prime Minister Tony Blair said Wednesday that Hong Kong has a difficult year but "I can see for myself how you are bouncing back."

In a speech at a luncheon held by the British Chamber of Commerce in Hong Kong, the visiting British leader said much of the difficulty has been unavoidable, because Hong Kong is an open economy and not immune to adverse regional or global economic development.

But equally it benefits when the external environment improves,he said, adding that "I note that afterwards, Hong Kong outperformed many of its regional competitors."

Blair attributed Hong Kong's good performance to its economic flexibility and determination of its entrepreneurs. He also spoke highly of the Hong Kong government's work of putting considerable effort into developing its creative industries.

"Given Hong Kong's traditional strengths it makes sense to focus on sectors which are dependent upon a quality intellectual infrastructure such as finance and the professions," he said.

Having just finished his official visit to the Chinese mainland,Blair said he is "stuck by the vast opportunities that the growth of this continental nation presents us all."

"Hong Kong, occupying the pivotal position that it does in thispart of the world, should do well," he added.

"We want to play our part in helping China grow. We want to play our part in sustaining Hong Kong's vibrancy. We wish to sharein and celebrate your future success," said Blair.

Continuing advances, maintaining stability vital for HK

Blair said it is vital for Hong Kong to continue its advances as set out in the Basic Law, and to maintain the stability which is "the ultimate bedrock of its success."

He said much of the difficulty has been unavoidable, because Hong Kong is an open economy and not immune to adverse regional orglobal economic development. Equally it benefits when the externalenvironment improves.

"I note that afterwards, Hong Kong outperformed many of its regional competitors," he said.

Blair said Hong Kong's outperformance is due to its economic flexibility and determination of its entrepreneurs.

The British prime minister also highlighted the Hong Kong government's work of putting considerable effort into developing its creative industries.

"Given Hong Kong's traditional strengths it makes sense to focus on sectors which are dependent upon a quality intellectual infrastructure such as finance and the professions," he said.

Having just finished his official visit to the Chinese mainland,Blair said he is "stuck by the vast opportunities that the growth of this continental nation presents us all."

"Hong Kong, occupying the pivotal position that it does in thispart of the world, should do well," he added.

"We want to play our part in helping China grow. We want to play our part in sustaining Hong Kong's vibrancy. We wish to sharein and celebrate your future success," said Blair.

Before the luncheon speech, Blair met with the Hong Kong chief executive, Tung Chee Hwa.

Blair had planned further activities before going back Thursday,but has now left Hong Kong after the speech, cutting short his visit to Hong Kong by a day to avoid a typhoon heading toward the area.

Hong Kong was the final stop of Blair's week-long tour which already took him through Tokyo, Seoul, Beijing and Shanghai.

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