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Hong Kong continues to prosper despite global slowdown, NPC deputy
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15:58, March 05, 2009

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Hong Kong’s economy was hit hard by the ongoing financial downturn, but the region enjoys strong support from central government. Economy will continue to prosper despite the crisis, said Yuen Mo, NPC deputy from Hong Kong Special Administrative Region (HKSAR) confidently.

Hong Kong drew a lot of experiences from the Asian Financial Storm in 1997, and this time, the SAR government adopted prompt and effective measures to tackle the crisis. The general public will not be hard hit if they have not bought financial derivatives such as mini bonds, said Yuen.

Yuen also encouraged college students in Hong Kong to do field work in inland cities in consideration that the Hong Kong economy was not as badly hit. “Being a college student, he or she must clearly understand the situation in China. Better understanding will give them rich experiences,” Yuen added.

Born in Hong Kong, Yuen joined China Merchant, a shipping company, in 1964, and served in various positions. Now he is the director of China Merchants Group Limit, and Chairman of China Merchant Industry Holdings Co., Ltd.

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